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National Tax Free Fund

Daily price w/o sales charge as of 11/15/2019

$11.72

arrowUp$0.01

YTD Returns w/o sales charge as of 11/15/2019

8.55%

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 National Tax Free Fund?

The Fund seeks to deliver a high level of income exempt from federal taxation by investing primarily in investment grade municipal bonds with select exposure to lower-rated municipal bonds.

Yield

Dividend Yield 1 as of 11/15/2019  

w/o sales charge 3.20%

30-Day Standardized Yield 2 as of 10/31/2019  

2.04%

Fund Basicsas of 10/31/2019

Total Net Assets
$3.02 B
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.53%
Fund Net Expense Ratio
0.50%
Number of Holdings
759

Fund Expense Ratio :

Gross 0.53%

Net 0.50%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/26/2010
w/o sales charge 8.87% 11.03% 4.31% 4.41% - 5.31%
Lipper Category Avg. General & Insured Municipal Debt Funds 7.11% 9.10% 3.34% 3.35% - -
Bloomberg Barclays Municipal Bond Index 6.94% 9.42% 3.62% 3.55% - -

Fund Expense Ratio :

Gross 0.53%

Net 0.50%

Fund Expense Ratio :

Gross 0.53%

Net 0.50%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/26/2010
w/o sales charge 8.86% 9.95% 3.90% 4.57% - 5.36%
Lipper Category Avg. General & Insured Municipal Debt Funds 7.09% 8.20% 3.00% 3.48% - -
Bloomberg Barclays Municipal Bond Index 6.75% 8.55% 3.19% 3.66% - -

Fund Expense Ratio :

Gross 0.53%

Net 0.50%

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.

RELATED CONTENT

Municipal Bonds: Look Beyond the “Tax-Free” Label
November 4, 2019

Investors have long embraced municipal bonds for their tax-advantaged status, but they may not be aware of other potential advantages the asset class offers.

Muni Matters: Demystifying Non-Rated Muni Bonds
October 14, 2019

Here’s a closer look at this $82 billion segment of the tax-free bond market—and how portfolio managers might find opportunities in the sector.

California Charter Schools: How Might Political Shifts Affect Credit?
August 23, 2019

Legislation under consideration in Sacramento could influence future authorizations of charter schools.

Sector Assets
Transportation
IDR/PCR
Healthcare/Hospital
Lease
Special Tax
GO Local
GO State
Education
Water & Sewer
Housing
Power
Pre-Refunded
VRDN
Other
Insured

The Fund's portfolio is actively managed and is subject to change.

Maturity Assets
<1 Year
1-3 Years
3-5 Years
5-7 Years
7-9 Years
9-12 Years
12-15 Years
15-18 Years
18-25 Years
25-30 Years
30+ Years

The Fund's portfolio is actively managed and is subject to change.

Credit Quality Distribution as of 10/31/2019 View Portfolio

Rating Assets
AAA
AA
A
BBB
< BBB
Not Rated

Ratings provided by Standard & Poor’s, Moody’s, and Fitch.  Where the rating agencies rate a security differently, Lord Abbett uses the higher credit 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 are not 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

Daniel S. Solender
Daniel S. Solender, CFA

Partner & Director

32 Years of Industry Experience

Greg Shuman
Gregory M. Shuman, CFA

Portfolio Manager

9 Years of Industry Experience

Supported By 15 Investment Professionals with 13 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 11/15/2019  

w/o sales charge 3.20%

30-Day Standardized Yield 2 as of 10/31/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.04% 2.04%

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

Fund Expense Ratio :

Gross 0.53%

Net 0.50%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/26/2010
w/o sales charge 8.87% 11.03% 4.31% 4.41% - 5.31%
Lipper Category Avg. General & Insured Municipal Debt Funds 7.11% 9.10% 3.34% 3.35% - -
Bloomberg Barclays Municipal Bond Index 6.94% 9.42% 3.62% 3.55% - -

Fund Expense Ratio :

Gross 0.53%

Net 0.50%

Fund Expense Ratio :

Gross 0.53%

Net 0.50%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/26/2010
w/o sales charge 8.86% 9.95% 3.90% 4.57% - 5.36%
Lipper Category Avg. General & Insured Municipal Debt Funds 7.09% 8.20% 3.00% 3.48% - -
Bloomberg Barclays Municipal Bond Index 6.75% 8.55% 3.19% 3.66% - -

Fund Expense Ratio :

Gross 0.53%

Net 0.50%

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

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

Year Fund Returns Bloomberg Barclays Municipal Bond Index
2018 0.96% 1.28%
2017 7.41% 5.45%
2016 0.48% 0.25%
2015 3.52% 3.30%
2014 13.06% 9.05%
2013 -5.90% -2.55%
2012 14.14% 6.78%
2011 11.29% 10.70%
2010 -2.66% 2.38%
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 3.53% 2.89% 2.19% - 8.57%
2018 -1.16% 1.33% -0.20% 1.00% 0.96%
2017 1.93% 2.16% 1.74% 1.39% 7.41%
2016 2.10% 3.56% 0.01% -4.97% 0.48%
2015 1.30% -1.16% 1.41% 1.96% 3.52%
2014 4.78% 3.55% 2.34% 1.82% 13.06%
2013 0.64% -4.76% -1.88% 0.06% -5.90%
2012 4.93% 2.73% 3.94% 1.87% 14.14%
2011 -0.13% 5.20% 3.49% 2.35% 11.29%
2010 - - - -5.79% -2.66%

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

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Sector Assets
Transportation
IDR/PCR
Healthcare/Hospital
Lease
Special Tax
GO Local
GO State
Education
Water & Sewer
Housing
Power
Pre-Refunded
VRDN
Other
Insured

The Fund's portfolio is actively managed and is subject to change.

Maturity Assets
<1 Year
1-3 Years
3-5 Years
5-7 Years
7-9 Years
9-12 Years
12-15 Years
15-18 Years
18-25 Years
25-30 Years
30+ Years

The Fund's portfolio is actively managed and is subject to change.

State Assets
CA
IL
NY
PA
NJ
TX
FL
MA
OH
MD
CT
AZ
GA
KY
AL
MI
HI
NE
NC
CO
Puerto Rico
VA
MN
IN
LA
NV
MO
SC
WI
OK
ME
OR
WY
WA
DIST. OF COLUMBIA
MT
DE
TN
WV
NH
AR
OT
IA
VT
DC
ND
NM
KS

Credit Quality Distribution as of 10/31/2019

Rating Assets
AAA
AA
A
BBB
< BBB
Not Rated

Ratings provided by Standard & Poor’s, Moody’s, and Fitch.  Where the rating agencies rate a security differently, Lord Abbett uses the higher credit 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 are not 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 09/30/2019

  • Relative to its benchmark, the Bloomberg Barclays Municipal Bond Index, the portfolio is underweight bonds in the 1- to 12-year maturity range, while maintaining an overweight to longer maturity bonds.
  • The portfolio continues to maintain an overweight in revenue bonds, specifically in the transportation, health care, and industrial development sectors, given their dedicated income streams and favorable return prospects.
  • The portfolio continues to maintain an overweight in lower tier investment grade bonds due to the incremental yield advantage and relatively attractive credit spreads.

Portfolio Details as of 10/31/2019

Total Net Assets
$3.02 B
Number of Issues
759
Average Coupon
4.6%
Average Effective Maturity
19.9 Years
Average Effective Duration
6.81 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 Effective Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

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
Texas Surface Transportation Corp - NTE Mobility Partners 5.000% 06/30/2058 1.0%
City of Chicago General Obligation 6.000% 01/01/2038 0.8%
Massachusetts Sch Bldg Auth 5.000% 10/15/2032 0.7%
New Jersey Transportation Trust Fund 4.000% 06/15/2050 0.7%
Duluth Economic Development Auth - Essentia Health 5.250% 02/15/2058 0.7%
Salt Verde Fin Corp - Citigroup 5.000% 12/01/2037 0.6%
Pennsylvania Financing Auth - Tobacco Settlement 4.000% 06/01/2039 0.6%
Kansas City Ind Dev Auth - KC International Airport 5.000% 03/01/2054 0.5%
North Carolina Turnpike Auth 4.000% 01/01/2037 0.5%
NY Transportation Dev Corp - LaGuardia Airport 5.250% 01/01/2050 0.5%
% of Total Assets 6.6%

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
Texas Surface Transportation Corp - NTE Mobility Partners5.000% 06/30/20581.0%
City of Chicago General Obligation6.000% 01/01/20380.8%
New Jersey Transp Tr Fnd Auth4.000% 06/15/20500.7%
Duluth Economic Development Auth - Essentia Health5.250% 02/15/20580.7%
Salt Verde Fin Corp - Citigroup5.000% 12/01/20370.7%
Pennsylvania Financing Auth - Tobacco Settlement4.000% 06/01/20390.6%
Kansas City Ind Dev Auth - KC International Airport5.000% 03/01/20540.6%
North Carolina Turnpike Auth4.000% 01/01/20370.6%
NY Transportation Dev Corp - LaGuardia Airport5.250% 01/01/20500.5%
New York City Mun Fin Auth1.580% 06/15/20490.5%
Louisiana Enviromental Facs- Westlake Chemical3.500% 11/01/20320.5%
Central Plains Energy - Goldman Sachs5.000% 09/01/20420.5%
Chicago O'Hare International Airport4.000% 01/01/20440.5%
Riverside County Redevelopment Agency - Housing0.000% 10/01/20410.5%
Hawaii Airports System5.000% 07/01/20480.5%
Trimble County Env Facs - Louisville Gas & Electric3.750% 06/01/20330.5%
San Joaquin Hills Transportation Corridor Agency5.000% 01/15/20500.4%
MD Hlth & Higher Ed - Mercy Medical Center6.250% 07/01/20310.4%
Chicago, IL5.500% 01/01/20490.4%
Illinois State General Obligation5.000% 11/01/20280.4%
ME Hlth & Higher Ed - MaineGeneral Hlth7.500% 07/01/20320.4%
Campbell, WY3.625% 07/15/20390.4%
Chicago5.000% 01/01/20530.4%
Baltimore Mayor & City Council, MD5.000% 07/01/20460.4%
Maryland Hlth & Hgr Ed Facs Auth5.500% 01/01/20460.4%
Metropolitan Boston Transit Parking Corp5.250% 07/01/20330.4%
Massachusetts School Building Auth- Sales Tax8.660% 10/15/20320.4%
Tender Option Bnd Tr Receipts/Certificates8.620% 11/01/20280.4%
Allegheny Cnty Hosp Dev Auth, PA4.000% 04/01/20440.4%
New Jersey Transp Tr Fnd Auth5.000% 06/15/20460.4%
Las Vegas Convention & Visitors Authority5.000% 07/01/20430.4%
Metropolitan Pier & Exposition Auth, IL0.000% 12/15/20360.4%
Hawaii St Dept of Budget & Fin3.200% 07/01/20390.4%
Main Street Natural Gas - Macquarie5.000% 05/15/20490.4%
Pennsylvania4.000% 09/15/20300.4%
Martin Cnty Hlth Facs Auth, FL4.000% 01/01/20460.4%
Cook Cnty, IL5.000% 11/15/20240.4%
New York Liberty Dev Corp.2.800% 09/15/20690.4%
California Muni Fin Auth - LINXS4.000% 12/31/20470.4%
New York City Transitional Fin Auth5.000% 07/15/20300.4%
Texas Muni Gas Acquisition & Supply Corp. III5.000% 12/15/20290.4%
Chicago5.000% 01/01/20520.4%
Philadelphia General Obligation5.000% 08/01/20360.4%
California State General Obligation5.000% 02/01/20330.4%
Pennsylvania Tpk Comm5.000% 06/01/20290.4%
Central Texas Regl Mobility Auth, TX6.000% 01/01/20410.4%
Foothill Eastern Transportation Corridor Agency6.000% 01/15/20490.4%
Louisville & Jefferson Cnty Metro Swr Dist, KY5.000% 05/15/20280.4%
Cnty of Cuyahoga, OH5.500% 02/15/20520.4%
Illinois, IL5.500% 07/01/20330.4%
California State General Obligation5.500% 03/01/20400.4%
New York City Hsg Dev Corp, NY3.450% 05/01/20590.4%
Long Beach Bond Finance Auth - Merrill Lynch5.500% 11/15/20370.4%
Buckeye Tobacco Settlement Fin Auth5.125% 06/01/20240.3%
Virginia Coll Bldg Auth3.000% 02/01/20390.3%
New York Mtg Agy2.950% 10/01/20490.3%
Univ of Connecticut5.250% 11/15/20470.3%
Washington & Multnomah Cntys Sch Dist No 48J Beave5.000% 06/15/20360.3%
Central Plains Energy Pj5.250% 09/01/20370.3%
San Antonio, TX5.000% 07/01/20450.3%
Cnty of Sacramento CA Arpt Sys Rev5.000% 07/01/20410.3%
Delaware Econ Dev Auth5.375% 10/01/20450.3%
Foothill Eastern Transportation Corridor Agency6.000% 01/15/20530.3%
Foothill-Eastern Transp Corridor Agy, CA3.500% 01/15/20530.3%
California Poll Cntrl Fin Auth5.000% 11/21/20450.3%
Hampton Roads Transportation Comm5.500% 07/01/20570.3%
California State Pub Wks Bd5.000% 04/01/20330.3%
Puerto Rico Sales Tax Financing Corporation5.000% 07/01/20580.3%
Kentucky Mun Pwr Agy4.000% 09/01/20450.3%
Delaware River Port Auth, PA5.000% 01/01/20340.3%
Long Beach Bnd Fin Auth2.896% 11/15/20270.3%
Lower Alabama Gas District - Goldman Sachs5.000% 09/01/20460.3%
California State General Obligation5.250% 08/01/20320.3%
Texas Water Development Board4.000% 10/15/20370.3%
North Carolina Medical Care Comm4.000% 11/01/20520.3%
Lucas Cnty, OH5.250% 11/15/20480.3%
Louisiana Pub Facs Auth6.250% 05/15/20310.3%
California Infrastr & Econ Dev Bnk5.250% 10/01/20340.3%
Apache County Indus Dev Auth - Tucson Electric4.500% 03/01/20300.3%
Clifton Hgr Ed Fin Corp., TX6.125% 08/15/20480.3%
New Jersey Econ Dev Auth5.625% 01/01/20520.3%
Connecticut5.000% 01/01/20370.3%
Oklahoma Dev Fin Auth5.500% 08/15/20570.3%
Golden State Tobacco Securitization Corp5.000% 06/01/20470.3%
California Edl Facs Auth5.000% 05/01/20450.3%
Greater Orlando Aviation Auth4.000% 10/01/20440.3%
Univ of North Carolina at Wilmington5.000% 06/01/20370.3%
Michigan Fin Auth4.000% 11/15/20500.3%
Greater Orlando Aviation Auth4.000% 10/01/20520.3%
Metropolitan Pier & Exposition Auth, IL0.000% 12/15/20370.3%
Wisconsin Hlth & Edl Facs Auth4.000% 02/15/20500.3%
California Muni Fin Auth5.000% 02/01/20470.3%
Indianapolis Local Pub Impt Bnd Bank5.000% 02/01/20310.3%
Philadelphia, PA5.250% 10/01/20520.3%
Maryland Hlth & Hgr Ed Facs Auth5.000% 07/01/20380.3%
County of Hillsborough FL3.250% 08/01/20480.3%
San Francisco City & Cnty Arpt Comm, CA5.250% 05/01/20330.3%
New Jersey Transp Tr Fnd Auth0.000% 12/15/20280.3%
California Statewide Comntys Dev Auth5.500% 12/01/20540.3%
County of Allen OH Hospital Facilities Revenue5.000% 05/01/20330.3%
Southwest Local School District/Hamilton County4.000% 01/15/20550.3%
Illinois, IL5.000% 12/01/20360.3%
Metropolitan Pier & Exposition Auth, IL0.000% 12/15/20300.3%
Berks County Industrial Development Authority5.000% 11/01/20500.3%
Bay Area Toll Auth, CA3.000% 04/01/20540.3%
Erie Cnty Indl Dev Agy, NY5.250% 05/01/20280.3%
Maryland Transp Auth3.000% 06/01/20360.3%
New Jersey Transportation Trust Fund5.250% 06/15/20430.3%
New York City5.000% 08/01/20270.3%
California5.600% 03/01/20360.3%
Dorm Auth of the St of New York5.000% 01/01/20470.3%
City of Reno NV4.000% 06/01/20460.3%
Erie Co Indus Dev Auth - Buffalo City Sch Dist5.000% 05/01/20260.3%
Indiana Fin Auth5.000% 07/01/20350.2%
Michigan St Bldg Auth4.000% 04/15/20540.2%
Massachusetts3.000% 04/01/20410.2%
Richland Environmental Improvement - International Paper Co3.875% 04/01/20230.2%
California Hsg Fin Agy4.250% 01/15/20350.2%
San Antonio, TX5.000% 07/15/20390.2%
Connecticut Hlth & Educl Facs Auth4.000% 07/01/20490.2%
Illinois, IL5.000% 01/01/20350.2%
New Jersey Econ Dev Auth5.000% 06/15/20470.2%
Berks County Industrial Development Authority5.000% 11/01/20470.2%
Illinois, IL5.000% 03/01/20300.2%
Mid Bay Br Auth, FL7.250% 10/01/20340.2%
Virginia Small Business Fing Auth5.250% 01/01/20320.2%
Illinois Fin Auth6.125% 09/01/20390.2%
Montana Facility Finance Authority5.000% 07/01/20480.2%
New York City Transitional Finance Authority5.000% 07/15/20310.2%
Minnesota Hsg Fin Agy2.750% 07/01/20440.2%
Public Auth For CO Energy6.500% 11/15/20380.2%
Baltimore Mayor & City Council, MD4.000% 07/01/20490.2%
Hawaii Dept of Budget & Finance - Hawaiian Electric Co3.100% 05/01/20260.2%
Minneapolis, MN5.000% 11/15/20490.2%
Central Texas Turnpike5.000% 08/15/20330.2%
New York City Indl Dev Agy5.000% 07/01/20280.2%
Pulaski Cnty Hlth Fac Brd, AR5.000% 12/01/20390.2%
Michigan St Hsg Dev Auth3.600% 10/01/20600.2%
Illinois Fin Auth4.000% 10/01/20490.2%
Oklahoma Tpk Auth4.000% 01/01/20480.2%
Metro Atlanta Rapid Transit Auth, GA3.000% 07/01/20400.2%
New York City Indl Dev Agy0.000% 03/01/20300.2%
Arlington Higher Ed Fin Corp., TX7.650% 08/15/20400.2%
New Jersey Tpk Auth4.000% 01/01/20430.2%
Hosp Auth of Hall Cnty and The City of Gainesville5.500% 08/15/20540.2%
Railsplitter Tobacco Settlement Authority6.000% 06/01/20280.2%
Cnty of Cuyahoga, OH5.500% 02/15/20570.2%
California State Pub Wks Bd5.000% 12/01/20280.2%
New Jersey Transp Tr Fnd Auth0.000% 12/15/20290.2%
Massachusetts Hsg Fin Agy3.600% 12/01/20590.2%
Lee Memorial Health System4.000% 04/01/20490.2%
NYC Capital Resource Corp - Arthur Corp7.000% 08/01/20250.2%
Indiana Fin Auth5.250% 02/01/20320.2%
Miami Dade Cnty Edl Fac Auth, FL5.000% 04/01/20530.2%
NY Transportation Dev Corp - Delta5.000% 01/01/20330.2%
California Muni Fin Auth5.000% 12/31/20380.2%
South Carolina St Ports Auth5.000% 07/01/20440.2%
North Texas Tollway Auth5.000% 01/01/20480.2%
Central Plains Energy5.000% 09/01/20320.2%
Chicago, IL5.000% 01/01/20340.2%
Florida Dev Fin Corp.7.625% 06/15/20410.2%
New York City Hsg Dev Corp, NY3.050% 05/01/20500.2%
Suffolk Tobacco Asset Securitization Corp.5.375% 06/01/20280.2%
FHLMC Multifamily VRD Certificates4.600% 12/15/20440.2%
Chicago, IL5.000% 01/01/20260.2%
Massachusetts Port Auth4.000% 07/01/20460.2%
South Carolina St Ports Auth5.250% 07/01/20550.2%
Regional Transportation District5.375% 06/01/20310.2%
Tender Option Bnd Tr Receipts/Certificates0.001% 12/01/20270.2%
Tuscaloosa City Bd of Ed5.000% 08/01/20460.2%
Illinois, IL5.500% 07/01/20380.2%
West Virginia Parkways Authority4.000% 06/01/20470.2%
Kentucky Mun Pwr Agy5.000% 09/01/20350.2%
New Jersey Edl Facs Auth4.000% 09/01/20290.2%
Kentucky Mun Pwr Agy5.000% 09/01/20360.2%
Dorm Auth of the St of New York5.000% 07/01/20400.2%
Hawaii Arpt Sys5.000% 07/01/20410.2%
New Jersey Transportation Trust Fund6.000% 06/15/20350.2%
New York City Hlth & Hosp Corp.5.000% 02/15/20300.2%
Pub Fin Auth5.000% 12/01/20270.2%
Metropolitan Transp Auth, NY5.000% 11/15/20300.2%
Denver City & Cnty Dept of Aviation, CO4.000% 12/01/20430.2%
California Hlth Facs Fing Auth5.250% 08/15/20310.2%
Salem County Pollution Control Fin Auth - Chambers5.000% 12/01/20230.2%
Massachusetts Dev Fin Agy4.000% 07/01/20410.2%
California4.000% 09/01/20370.2%
Univ of Illinois Bd of Trustees4.000% 04/01/20380.2%
Inland Valley Development Agency5.250% 09/01/20370.2%
Chicago, IL5.500% 01/01/20420.2%
New Jersey Econ Dev Auth3.180% 03/01/20280.2%
Chicago, IL5.000% 11/01/20290.2%
North Sumter Cnty Util Dependent Dist, FL5.375% 10/01/20300.2%
Compton, CA6.000% 08/01/20390.2%
Baltimore Mayor & City Council, MD5.000% 07/01/20390.2%
Pennsylvania Econ Dev Fing Auth3.250% 08/01/20390.2%
New Jersey Econ Dev Auth5.000% 06/15/20420.2%
Metropolitan Washington Arpts Auth, DC5.000% 10/01/20350.2%
Franklin Cnty, OH6.125% 07/01/20400.2%
Bay Area Toll Auth, CA4.000% 04/01/20490.2%
NY Transportation Dev Corp - LaGuardia Airport5.000% 07/01/20460.2%
Massachusetts Educational Financing Authority4.125% 07/01/20460.2%
Vermont Edl & Hlth Bldgs Fing Agy5.000% 12/01/20350.2%
Maricopa Cnty Poll Cntrl Corp., AZ3.600% 02/01/20400.2%
Upland, CA6.375% 01/01/20320.2%
Colorado Hlth Facs Auth4.000% 08/01/20490.2%
San Francisco Airport5.000% 05/01/20250.2%
New Hampshire Bus Fin Auth4.875% 11/01/20420.2%
Pima Cnty Indus Dev Auth, AZ4.000% 09/01/20290.2%
Niagara Area Dev Corp., NY4.750% 11/01/20420.2%
Norman Y Mineta San Jose International Arpt SJC6.250% 03/01/20340.2%
King Cnty Public Hosp Dist No 45.000% 12/01/20380.2%
Philadelphia, PA5.000% 07/01/20420.2%
Virginia Coll Bldg Auth3.000% 02/01/20360.2%
Pell City Special Care Facs - Noland Health5.000% 12/01/20310.2%
Miami Dade Cnty, FL5.000% 10/01/20280.2%
New Jersey Econ Dev Auth5.000% 06/15/20430.2%
Golden St Tobacco Securitization Corp.5.000% 06/01/20470.2%
Illinois, IL5.000% 05/01/20380.2%
City of Reno NV4.000% 06/01/20430.2%
Allentown Neighborhood Impt Zone Dev Auth5.000% 05/01/20350.2%
Chicago, IL5.000% 01/01/20400.2%
New York City Transitional Fin Auth1.520% 11/01/20220.2%
Connecticut5.000% 01/01/20380.2%
Central Texas Mobility Authority5.000% 01/01/20450.2%
Maryland Econ Dev Corp.4.000% 07/01/20390.2%
New Jersey Transp Tr Fnd Auth0.000% 12/15/20300.2%
Buckeye Tobacco Settlement Fin Auth5.875% 06/01/20470.2%
New York City Indl Dev Agy2.610% 03/01/20240.2%
Kentucky Bond Development Corp4.000% 09/01/20480.2%
Cass Cnty, ND5.125% 02/15/20370.2%
Lansing Bd of Wtr & Lt, MI5.000% 07/01/20300.2%
New Jersey Transp Tr Fnd Auth5.000% 12/15/20230.2%
Luzerne Cnty, PA5.000% 11/15/20290.2%
Metropolitan Pier & Exposition Auth, IL5.500% 06/15/20530.2%
New Jersey Transp Tr Fnd Auth5.000% 12/15/20350.2%
Montgomery Co Ind Dev Auth - Jefferson Health5.000% 10/01/20270.2%
New York City Mun Fin Auth1.690% 06/15/20450.2%
Hlth & Ed Facs Bd of the Metro Govt of Nashville &5.250% 10/01/20580.2%
Texas Muni Gas Acquisition & Supply Corp. III5.000% 12/15/20280.2%
San Francisco City & Cnty Arpt Comm, CA5.250% 05/01/20420.2%
California Statewide Comntys Dev Auth4.000% 07/01/20480.2%
Missouri Hlth & Edl Facs Auth4.000% 02/15/20540.2%
North Texas Tollway Auth5.000% 01/01/20400.2%
Canaveral Port Authority5.000% 06/01/20450.2%
Montgomery Cnty, OH4.000% 11/15/20420.2%
Dorm Auth of the St of New York5.000% 07/01/20310.2%
Pennsylvania4.000% 03/01/20370.2%
Massachusetts Dev Fin Agy5.000% 07/01/20480.2%
Palomar Hlth5.000% 11/01/20360.2%
Omaha Pub Pwr Dist5.250% 02/01/20420.2%
Michigan Fin Auth5.000% 11/15/20480.2%
Montana Facility Finance Authority5.000% 07/01/20430.2%
Los Angeles, CA5.000% 05/15/20410.2%
Denver Hlth and Hosp Auth, CO2.530% 12/01/20330.2%
California Muni Fin Auth2.650% 08/01/20360.2%
Salt Verde Financial Corp.5.250% 12/01/20270.2%
El Dorado Irr Dist, CA5.000% 03/01/20340.2%
San Jose, CA6.125% 05/01/20310.2%
City of Atlanta, GA, Department of Aviation5.000% 01/01/20310.2%
Golden St Tobacco Securitization Corp.5.250% 06/01/20470.2%
Washington Hlthcare Facs Auth5.000% 07/01/20380.2%
Salt Verde Financial Corp.5.000% 12/01/20320.2%
Greenville Hosp Sys Bd of Trustees, SC5.000% 05/01/20340.2%
Houston, TX5.000% 07/15/20350.2%
City of Atlanta, GA, Department of Aviation4.000% 07/01/20400.2%
California5.000% 08/01/20380.2%
Port Auth of New York & New Jersey5.250% 10/15/20550.2%
Metropolitan Transp Auth, NY4.000% 11/15/20460.2%
Detroit Pub Schs, MI5.000% 05/01/20290.2%
Texas Muni Gas Acquisition & Supply Corp. III5.000% 12/15/20310.2%
Chicago, IL5.000% 01/01/20340.1%
Union Cnty Util Auth, NJ4.750% 12/01/20310.1%
Los Angeles Hsg Auth6.250% 06/01/20340.1%
Illinois, IL5.000% 01/01/20330.1%
Montgomery Cnty Hgr Ed & Hlth Auth, PA4.000% 09/01/20490.1%
NYS Tobacco Settlement Corp5.000% 06/01/20480.1%
Connecticut Special Tax - Transportation Infrastructure5.000% 08/01/20340.1%
County of Cook IL Sales Tax Revenue4.000% 11/15/20340.1%
New Jersey Econ Dev Auth5.000% 03/01/20280.1%
NJ Tobacco Settlement Fin Corp5.000% 06/01/20460.1%
Jefferson County Sewer5.500% 10/01/20530.1%
California Muni Fin Auth5.000% 12/31/20470.1%
State of Connecticut Bradley International Airport5.000% 07/01/20490.1%
Chandler Industrial Development Authority2.700% 12/01/20370.1%
Mission Econ Dev Corp, TX4.625% 10/01/20310.1%
New Jersey Transp Tr Fnd Auth5.000% 12/15/20360.1%
Essex Cnty Imp Auth, NJ5.250% 07/01/20450.1%
Kirkwood Indus Dev Auth8.000% 05/15/20290.1%
Railsplitter Tobacco Settlement Auth5.000% 06/01/20270.1%
New Jersey Econ Dev Auth6.000% 10/01/20430.1%
Ohio Air Quality Auth - AMG Vanadium5.000% 07/01/20490.1%
California Statewide Comntys Dev Auth5.500% 12/01/20580.1%
Main Street Natural Gas, Inc.5.000% 05/15/20370.1%
Lee Cnty, FL5.375% 10/01/20320.1%
San Diego Unif Sch Dist, CA3.250% 07/01/20480.1%
Metropolitan Pier & Exposition Auth, IL5.000% 06/15/20570.1%
Illinois Sports Facs Auth5.000% 06/15/20270.1%
Philadelphia, PA5.000% 07/01/20300.1%
California Muni Fin Auth4.000% 12/31/20470.1%
Chicago Brd of Ed5.000% 12/01/20460.1%
State of Connecticut Bradley International Airport4.000% 07/01/20490.1%
Illinois, IL5.000% 01/01/20410.1%
Philadelphia, PA5.000% 08/01/20370.1%
Massachusetts Dev Fin Agy5.000% 10/01/20570.1%
Michigan Fin Auth4.000% 11/01/20480.1%
VA Tobacco Settlement Financing Corp5.000% 06/01/20470.1%
Chicago, IL5.000% 11/01/20390.1%
Buckeye Tobacco Settlement Fin Auth5.750% 06/01/20340.1%
Massachusetts Dev Fin Agy4.000% 07/01/20440.1%
Pennsylvania Tpk Comm4.000% 12/01/20490.1%
Tusaloosa Ind Dev Auth - Hunt Refining Co5.250% 05/01/20440.1%
Metropolitan Washington Arpts Auth, DC5.000% 10/01/20270.1%
Massachusetts Port Auth5.000% 07/01/20450.1%
New Mexico Hosp Equipment Loan Council5.000% 07/01/20490.1%
Pennsylvania Tpk Comm4.000% 12/01/20380.1%
E-470 Pub Hwy Auth, CO0.000% 09/01/20370.1%
Sacramento City Fing Auth, CA5.250% 12/01/20230.1%
Tennessee Energy Acquisition Corp.5.625% 09/01/20260.1%
Casino Reinvestment Dev Auth, NJ5.250% 11/01/20390.1%
Jefferson Cnty, AL0.000% 10/01/20270.1%
Chicago, IL5.000% 11/01/20360.1%
Ohio Air Qlty Dev Auth3.250% 09/01/20290.1%
New Jersey Transp Tr Fnd Auth5.000% 06/15/20300.1%
Martin Cnty Hosp Dist7.250% 04/01/20360.1%
Eagle County Airport Terminal Corp5.000% 05/01/20410.1%
Town of Davie FL6.000% 04/01/20420.1%
Allegheny Cnty Hosp Dev Auth, PA4.000% 04/01/20370.1%
New Jersey Transp Tr Fnd Auth0.000% 12/15/20380.1%
Lower Colorado River Auth, TX5.000% 05/15/20400.1%
Philadelphia Hosp & Hgr Ed Fac Auth, PA5.000% 07/01/20330.1%
Maricopa Cnty Poll Cntrl Corp., AZ3.600% 04/01/20400.1%
Montgomery Cnty Indus Dev Auth, PA5.000% 11/15/20240.1%
Indiana Fin Auth5.000% 07/01/20440.1%
North Carolina Hsg Fin Agy2.625% 07/01/20390.1%
Philadelphia, PA5.250% 07/15/20320.1%
Puerto Rico Aqueduct & Swr Auth5.250% 07/01/20420.1%
New York City Transitional Fin Auth4.000% 05/01/20370.1%
California State General Obligation5.000% 04/01/20320.1%
NY Transportation Dev Corp - Delta4.000% 01/01/20360.1%
Foothill-Eastern Transp Corridor Agy, CA0.000% 01/15/20330.1%
Puerto Rico Sales Tax Fincg Corp4.329% 07/01/20400.1%
Illinois, IL4.000% 06/01/20340.1%
California Poll Cntrl Fin Auth5.000% 11/21/20450.1%
Iowa Finance Auth - Iowa Fertilizer Co5.250% 12/01/20250.1%
Selma Indus Dev Bd, AL6.250% 11/01/20330.1%
Indiana Fin Auth5.000% 07/01/20400.1%
Puerto Rico Aqueduct & Swr Auth5.750% 07/01/20370.1%
Norman Y Mineta San Jose International Arpt SJC5.000% 03/01/20470.1%
NY Conv Ctr Dev Corp5.000% 11/15/20400.1%
New York Transp Dev Corp.5.000% 01/01/20340.1%
Massachusetts Dev Fin Agy5.000% 07/01/20390.1%
Antelope Valley Hlthcare Dist5.000% 03/01/20410.1%
Niagara Frontier Transp Auth, NY5.000% 04/01/20250.1%
Village of Bellwood, IL6.150% 12/01/20320.1%
Montgomery Cnty Hgr Ed & Hlth Auth, PA4.000% 09/01/20490.1%
Phenix City Indus Dev Bd3.625% 05/15/20300.1%
Hawaii Airport System5.000% 07/01/20340.1%
City of Chicago General Obligation5.500% 01/01/20370.1%
Texas Transp Comm5.000% 08/01/20570.1%
Love Field Arpt Modernization Corp., TX5.000% 11/01/20280.1%
Puerto Rico Sales Tax Fincg Corp4.329% 07/01/20400.1%
Pennsylvania Tpk Comm5.000% 12/01/20440.1%
Wilkes-Barre Area School District/PA5.000% 04/15/20590.1%
Golden St Tobacco Securitization Corp.5.000% 06/01/20290.1%
E-470 Pub Hwy Auth, CO0.000% 09/01/20320.1%
Chicago, IL5.000% 11/01/20370.1%
Massachusetts Dev Fin Agy5.000% 07/01/20320.1%
Southern California Pub Pwr Auth2.980% 11/01/20380.1%
New York St Thruway Auth4.000% 01/01/20510.1%
North Carolina Hsg Fin Agy2.850% 01/01/20430.1%
Chicago5.000% 07/01/20480.1%
California Poll Cntrl Fin Auth4.300% 07/01/20400.1%
Miami Dade Cnty, FL5.000% 10/01/20290.1%
Eagle County Airport Terminal Corp5.000% 05/01/20330.1%
New York City Transitional Fin Auth1.500% 08/01/20420.1%
Puerto Rico Elec Pwr Auth2.106% 07/01/20310.1%
Louisiana Pub Facs Auth5.000% 07/01/20590.1%
Houston, TX5.000% 07/15/20280.1%
Baltimore Mayor & City Council, MD5.000% 07/01/20320.1%
Denver City & Cnty Dept of Aviation, CO4.000% 12/01/20480.1%
California Infrastr & Econ Dev Bnk5.000% 11/01/20410.1%
Genesis Hlthcare Sys, OH5.000% 02/15/20440.1%
New Jersey Transp Tr Fnd Auth5.000% 06/15/20310.1%
West Pace Cooperative District9.125% 05/01/20390.1%
New Jersey Econ Dev Auth6.500% 04/01/20280.1%
Middletown City Sch Dist, OH5.250% 12/01/20400.1%
Michigan Strategic Fnd4.250% 12/31/20380.1%
Perris Union High Sch District,CA3.000% 09/01/20440.1%
Brooklyn Arena Local Dev Corp.5.000% 07/15/20300.1%
Antelope Valley Hlthcare Dist5.000% 03/01/20460.1%
Cleveland, OH5.000% 01/01/20300.1%
Connecticut Hlth & Educl Facs Auth4.000% 07/01/20410.1%
Dorm Auth of the St of New York5.500% 01/01/20390.1%
California State Pub Wks Bd5.125% 10/01/20310.1%
New Jersey Hgr Ed Stud Asst Auth3.750% 12/01/20310.1%
Chicago, IL5.500% 01/01/20340.1%
Montgomery Cnty, OH4.000% 11/15/20450.1%
Houston, TX6.625% 07/15/20380.1%
New York Transp Dev Corp.5.000% 01/01/20360.1%
Pub Fin Auth5.250% 10/01/20380.1%
California Statewide Comntys Dev Auth4.000% 12/01/20570.1%
Pennsylvania4.000% 07/01/20460.1%
Maryland Hlth & Hgr Ed Facs Auth5.000% 07/01/20380.1%
Sparks Tourism Improvement District6.750% 06/15/20280.1%
Build NYC Resource Corp., NY4.000% 07/01/20450.1%
Cook Cnty, IL5.000% 11/15/20310.1%
City of Atlanta, GA, Department of Aviation4.000% 07/01/20390.1%
Main Street Natural Gas, Inc.5.000% 05/15/20430.1%
Port of Oakland, CA5.000% 05/01/20280.1%
Louisville & Jefferson Cnty Metro Swr Dist, KY3.250% 05/15/20460.1%
Indiana Housing and Cmnty Dev Auth - Single Family Mortgage1.770% 07/01/20470.1%
Yorba Linda Redev Agy, CA6.500% 09/01/20320.1%
Chicago, IL5.000% 01/01/20330.1%
Jefferson County Sewer6.500% 10/01/20530.1%
Chicago Brd of Ed5.000% 12/01/20300.1%
Pub Fin Auth6.850% 10/01/20470.1%
Metro Atlanta Rapid Transit Auth, GA3.250% 07/01/20390.1%
Massachusetts Dev Fin Agy5.000% 06/01/20390.1%
Dorm Auth of the St of New York5.000% 07/01/20300.1%
New York City Hlth & Hosp Corp.5.000% 02/15/20250.1%
St of Alabama Docks Department5.000% 10/01/20340.1%
St of Alabama Docks Department5.000% 10/01/20350.1%
Berks County Industrial Development Authority4.000% 11/01/20470.1%
Chicago Brd of Ed5.000% 12/01/20290.1%
New Jersey Transp Tr Fnd Auth5.000% 06/15/20420.1%
Valparaiso, IN7.000% 01/01/20440.1%
Philadelphia, PA5.000% 08/01/20290.1%
Connecticut Hlth & Educl Facs Auth3.125% 11/01/20380.1%
Miami Beach, FL5.000% 09/01/20400.1%
Chicago Brd of Ed5.000% 04/01/20460.1%
Florida Hgr Edl Facs Fin Auth5.000% 04/01/20360.1%
Michigan Fin Auth5.000% 07/01/20340.1%
Atlanta Airport5.000% 01/01/20280.1%
Illinois Fin Auth5.000% 04/01/20310.1%
Metropolitan Washington Arpts Auth, DC5.000% 10/01/20280.1%
Iowa Fin Auth3.125% 12/01/20220.1%
Municipal Elec Auth of Georgia5.000% 01/01/20480.1%
Philadelphia, PA5.250% 07/15/20310.1%
Illinois, IL5.000% 06/01/20270.1%
Minneapolis St Paul Metro Arpts Comm, MN5.000% 01/01/20310.1%
Puerto Rico Hwy & Transp Auth5.250% 07/01/20320.1%
Port Authority of New York & New Jersey4.000% 09/01/20430.1%
Port of Portland, OR Arpt Rev5.000% 07/01/20390.1%
Columbus Cnty Indus Facs & Poll Cntrl Fin Auth5.700% 05/01/20340.1%
Municipal Elec Auth of Georgia5.000% 01/01/20590.1%
Dorm Auth of the St of New York5.000% 07/01/20350.1%
Puerto Rico Highway & Transportation Auth5.500% 07/01/20250.1%
Chicago Brd of Ed5.000% 12/01/20270.1%
Massachusetts Dev Fin Agy5.000% 07/01/20310.1%
California Hlth Facs Fing Auth4.000% 11/15/20420.1%
Massachusetts Dev Fin Agy4.000% 07/01/20350.1%
District of Columbia, DC5.000% 06/01/20410.1%
New York City Transitional Finance Auth - Future Tax1.700% 08/01/20310.1%
Ohio Air Qlty Dev Auth4.500% 01/15/20480.1%
Guadalupe Regional Medical Center5.000% 12/01/20450.1%
Burke Cnty Dev Auth, GA4.125% 11/01/20450.1%
Matagorda Cnty Navigation Dist No 1, TX2.600% 11/01/20290.1%
Chula Vista, CA5.875% 01/01/20340.1%
Allentown Neighborhood Impt Zone Dev Auth5.000% 05/01/20320.1%
Casino Reinvestment Dev Auth, NJ5.250% 11/01/20440.1%
Tobacco Settlement Auth5.250% 06/01/20320.1%
Chicago, IL5.000% 11/01/20360.1%
California Statewide Comntys Dev Auth5.250% 11/15/20340.1%
Chicago Brd of Ed5.000% 04/01/20420.1%
Connecticut5.000% 04/15/20390.1%
Chicago Brd of Ed5.000% 12/01/20330.1%
Carlsbad Unified School District3.125% 08/01/20480.1%
Illinois Fin Auth5.000% 04/01/20200.1%
Puerto Rico General Obligation5.500% 07/01/20390.1%
Port Auth of New York & New Jersey6.000% 12/01/20420.1%
New York City Hsg Dev Corp, NY3.000% 11/01/20440.1%
Chicago Brd of Ed5.000% 12/01/20440.1%
Howard Cnty, MD3.000% 08/15/20390.1%
Gramercy Farms Comnty Dev Dist0.000% 05/01/20390.1%
Southern California Public Power Auth - Goldman Sachs5.000% 11/01/20330.1%
California Sch Fin Auth5.000% 08/01/20480.1%
Wayne Cnty Arpt Auth5.000% 12/01/20390.1%
Florida Hgr Edl Facs Fin Auth5.000% 03/01/20490.1%
Midlothian Wtr Dist, TX0.000% 09/01/20220.1%
New York City Transitional Fin Auth1.700% 11/01/20220.1%
Adelanto Pub Util Auth, CA5.000% 07/01/20390.1%
Nassau Cnty Local Econ Assistance Corp.5.000% 07/01/20310.1%
Dorm Auth of the St of New York4.000% 08/01/20380.1%
Pittsburgh, PA5.000% 09/01/20300.1%
Michigan Public Edl Facs Auth8.750% 09/01/20390.1%
Philadelphia, PA5.000% 08/01/20300.1%
Successor Agy to the Rancho Cucamonga RDA, CA5.000% 09/01/20300.1%
Massachusetts Port Auth5.000% 07/01/20400.1%
Florida Hgr Edl Facs Fin Auth5.000% 04/01/20330.1%
Chicago Brd of Ed5.000% 12/01/20460.1%
Indiana Fin Auth5.000% 10/01/20290.1%
California Sch Fin Auth5.000% 08/01/20450.1%
San Francisco City & Cnty Arpt Comm, CA4.000% 05/01/20490.1%
TSASC, Inc.5.000% 06/01/20350.1%
Virginia Small Business Fing Auth5.000% 07/01/20340.1%
Duluth Econ Dev Auth, MN5.250% 02/15/20530.1%
Toledo-Lucas Cnty Port Auth, OH5.000% 07/01/20390.1%
Cook County General Obligation5.250% 11/15/20240.1%
NJ Eco Dev Auth - School Facilities5.500% 06/15/20310.1%
Successor Agy to the Rancho Cucamonga RDA, CA5.000% 09/01/20310.1%
Massachusetts Dev Fin Agy4.000% 06/01/20490.1%
Dorm Auth of the St of New York4.000% 08/01/20360.1%
North Carolina Turnpike Auth5.000% 01/01/20320.1%
Howard Cnty, MD3.000% 08/15/20400.1%
New Hampshire Bus Fin Auth4.625% 11/01/20420.1%
California Muni Fin Auth5.000% 06/01/20500.1%
Pennsylvania Econ Dev Fing Auth7.500% 05/01/20200.1%
Flint Hosp Bldg Auth7.000% 07/01/20300.1%
Pennsylvania Econ Dev Fing Auth8.000% 05/01/20290.1%
Dorm Auth of the St of New York5.000% 12/01/20310.1%
Connecticut5.000% 06/15/20320.1%
Connecticut5.000% 06/15/20330.1%
Chicago Brd of Ed7.000% 12/01/20460.1%
Maryland Hlth & Hgr Ed Facs Auth5.000% 07/01/20360.1%
Commonwealth Financing Authority5.000% 06/01/20350.1%
San Francisco City & Cnty Redev Fing Auth, CA7.000% 08/01/20410.1%
Massachusetts Dev Fin Agy5.000% 07/01/20330.1%
Dorm Auth of the St of New York5.000% 12/01/20400.1%
Arizona Indus Dev Auth4.000% 11/01/20490.1%
Puerto Rico Sales Tax Fincg Corp0.000% 07/01/20330.1%
Chicago Brd of Ed5.000% 12/01/20320.1%
New Jersey Econ Dev Auth5.000% 06/15/20360.0%
La Verne CA C.O.P.5.000% 05/15/20360.0%
New Jersey Transp Tr Fnd Auth0.000% 12/15/20370.0%
Connecticut5.000% 04/15/20360.0%
Wayne Cnty Arpt Auth5.000% 12/01/20420.0%
Montgomery Cnty Indus Dev Auth, PA5.000% 11/15/20250.0%
Philadelphia Sch Dist, PA5.000% 09/01/20370.0%
Virginia Small Business Fing Auth6.000% 01/01/20370.0%
New Jersey Transp Tr Fnd Auth0.000% 12/15/20310.0%
Chicago Brd of Ed6.500% 12/01/20460.0%
Tempe Industrial Development Authority6.125% 10/01/20470.0%
Cnty of Miami-Dade FL Rickenbacker Causeway Rev5.000% 10/01/20320.0%
Pittsburgh, PA5.000% 09/01/20320.0%
Puerto Rico Sales Tax Fincg Corp0.000% 07/01/20310.0%
West Virginia Hosp Fin Auth6.250% 10/01/20230.0%
Metropolitan Pier & Exposition Auth, IL0.000% 06/15/20450.0%
Crawford Cnty Hosp Auth6.000% 06/01/20510.0%
Indiana Fin Auth7.000% 10/01/20390.0%
Pittsburgh, PA5.000% 09/01/20290.0%
Grand River Hospital District5.250% 12/01/20340.0%
Louisiana Hsg Fin Agy8.000% 09/01/20390.0%
Grand River Hospital District5.250% 12/01/20350.0%
Grand River Hospital District5.250% 12/01/20370.0%
Yorba Linda Redev Agy, CA6.000% 09/01/20260.0%
Norfolk Water5.250% 11/01/20280.0%
Dorm Auth of the St of New York5.000% 08/01/20340.0%
Nassau Co Local Econ Assis - Catholic Hlth Svcs5.000% 07/01/20340.0%
Dorm Auth of the St of New York5.000% 08/01/20330.0%
City of Oroville CA5.250% 04/01/20390.0%
Dorm Auth of the St of New York5.000% 08/01/20350.0%
Connecticut5.000% 06/15/20380.0%
Chicago5.000% 01/01/20480.0%
Illinois, IL6.000% 05/01/20260.0%
Buckeye Tobacco Settlement Fing Auth0.000% 06/01/20470.0%
Paducah Electric Plant Bd5.000% 10/01/20330.0%
City of Oroville CA5.250% 04/01/20540.0%
Cook Cnty, IL5.000% 11/15/20300.0%
Paducah Electric Plant Bd5.000% 10/01/20340.0%
Massachusetts Dev Fin Agy5.000% 07/01/20340.0%
Phoenix Indus Dev Auth, AZ5.000% 07/01/20370.0%
Paducah Electric Plant Bd5.000% 10/01/20350.0%
Eagle County Airport Terminal Corp5.000% 05/01/20370.0%
Dorm Auth of the St of New York5.000% 12/01/20360.0%
Philadelphia Hosp & Hgr Ed Fac Auth, PA5.000% 07/01/20310.0%
Chicago Brd of Ed5.000% 12/01/20310.0%
Pub Fin Auth5.250% 10/01/20430.0%
Dorm Auth of the St of New York5.000% 12/01/20370.0%
Philadelphia Hosp & Hgr Ed Fac Auth, PA5.000% 07/01/20320.0%
District of Columbia, DC6.000% 07/01/20430.0%
District of Columbia, DC6.000% 07/01/20480.0%
Cook Cnty, IL5.000% 11/15/20350.0%
Denver Convention Ctr Hotel Auth, CO5.000% 12/01/20340.0%
Philadelphia Sch Dist, PA5.000% 09/01/20380.0%
Niagara Frontier Transp Auth, NY5.000% 04/01/20260.0%
New Orleans, LA5.000% 12/01/20340.0%
Nassau Cnty Local Econ Assistance Corp.5.000% 07/01/20290.0%
New York City Transitional Fin Auth5.000% 02/01/20360.0%
Philadelphia, PA5.250% 07/15/20330.0%
New York City Transitional Fin Auth4.000% 05/01/20440.0%
Clifton Hgr Ed Fin Corp., TX6.000% 08/15/20430.0%
Central Texas Turnpike Sys5.000% 08/15/20370.0%
Massachusetts4.000% 05/01/20480.0%
North Carolina Turnpike Auth4.000% 01/01/20380.0%
Los Angeles Unified School District5.000% 10/01/20250.0%
New York City Transitional Fin Auth4.000% 08/01/20420.0%
Massachusetts Sch Bldg Auth4.000% 02/15/20430.0%
Montgomery Cnty Indus Dev Auth, PA5.375% 01/01/20500.0%
Crawford Cnty Hosp Auth6.000% 06/01/20460.0%
Chicago, IL4.000% 01/01/20340.0%
Connecticut4.000% 06/15/20370.0%
Gloucester Cnty Pollution Cntrl Fing Auth5.000% 12/01/20240.0%
Toledo-Lucas Cnty Port Auth, OH5.000% 07/01/20340.0%
Capital Trust Agency Inc5.000% 12/15/20490.0%
San Buenaventura - Comunity Memorial Health8.000% 12/01/20260.0%
San Francisco City & Cnty Redev Fing Auth, CA7.000% 08/01/20330.0%
Toledo-Lucas Cnty Port Auth, OH5.000% 07/01/20460.0%
New York City Transitional Fin Auth1.650% 11/01/20440.0%
Chicago O'Hare International Airport5.000% 01/01/20350.0%
Cleveland, OH5.000% 01/01/20310.0%
Texas Muni Gas Acquisition & Supply Corp. III5.000% 12/15/20250.0%
Metropolitan Pier & Exposition Auth, IL5.000% 06/15/20530.0%
Kendall Kane & Will Cos Unified School District5.000% 02/01/20290.0%
Martin Cnty Hlth Facs Auth, FL5.500% 11/15/20320.0%
Foothill-Eastern Transp Corridor Agy, CA5.750% 01/15/20460.0%
New York City Transitional Finance Auth - Future Tax1.650% 05/01/20340.0%
New York City General Obligation1.520% 03/01/20340.0%
Mesquite Hlth Facs Dev Corp., TX5.125% 02/15/20420.0%
City of Rockville MD5.000% 11/01/20420.0%
Illinois Sports Facs Auth5.000% 06/15/20280.0%
Puerto Rico Sales Tax Fincg Corp4.750% 07/01/20530.0%
Virginia Small Business Fing Auth5.000% 01/01/20480.0%
Dallas Fort Worth, TX5.000% 11/01/20300.0%
Texas Transp Comm0.000% 08/01/20420.0%
Pennsylvania Higher Edl Facs Auth5.000% 11/01/20300.0%
New York St Energy Rsch & Dev Auth3.500% 10/01/20290.0%
Dutchess Cnty Local Dev Corp., NY6.000% 10/01/20300.0%
Texas Transp Comm0.000% 08/01/20400.0%
St of Alabama Docks Department5.000% 10/01/20360.0%
Maryland Econ Dev Corp.5.000% 06/01/20490.0%
City of Oroville CA5.250% 04/01/20490.0%
City of Rockville MD5.000% 11/01/20470.0%
Norman Y Mineta San Jose International Arpt SJC5.000% 03/01/20470.0%
Puerto Rico Sales Tax Fincg Corp0.000% 07/01/20460.0%
Wisconsin Hlth & Edl Facs Auth5.375% 02/01/20480.0%
Pennsylvania Tpk Comm5.000% 12/01/20390.0%
New York State Urban Dev Corp.5.000% 03/15/20330.0%
Stockton Unif Sch Dist, CA5.000% 07/01/20280.0%
Fulton Co Dev - GA State Univ Housing5.000% 09/01/20320.0%
Jefferson Cnty, AL0.000% 10/01/20260.0%
CO Hlth Facs - Catholic Hlth5.250% 02/01/20310.0%
Courtland Indus Dev Bd, AL6.250% 11/01/20330.0%
Denver Hlth and Hosp Auth, CO5.250% 12/01/20450.0%
Capital Trust Agency Inc5.000% 12/15/20540.0%
Houston Hgr Ed Fin Corp., TX5.000% 02/15/20420.0%
Univ of California Bd of Regents5.250% 05/15/20380.0%
California Muni Fin Auth5.250% 08/15/20390.0%
Los Angeles, CA5.000% 05/15/20350.0%
TSASC, Inc.5.000% 06/01/20360.0%
San Jose, CA5.500% 05/01/20240.0%
Puerto Rico Elec Pwr Auth5.250% 07/01/20280.0%
CT Hlth & Ed - Hartford Healthcare5.000% 07/01/20320.0%
Puerto Rico5.500% 07/01/20270.0%
New York City Transitional Fin Auth5.000% 07/15/20350.0%
City of Atlanta, GA, Department of Aviation5.250% 01/01/20300.0%
Maine Hlth & Hgr Edl Facs Auth6.000% 07/01/20260.0%
Minneapolis St Paul Metro Arpts Comm, MN5.000% 01/01/20270.0%
Nassau Cnty Local Econ Assistance Corp.5.000% 07/01/20300.0%
Cnty of Miami-Dade FL Rickenbacker Causeway Rev5.000% 10/01/20300.0%
Metropolitan Pier & Exposition Auth, IL0.000% 06/15/20460.0%
Casitas Muni Wtr Dist5.250% 09/01/20470.0%
Chicago Brd of Ed5.000% 12/01/20420.0%
Charlotte, NC5.000% 07/01/20330.0%
Yosemite Comnty Coll Dist, CA5.000% 08/01/20290.0%
Atlantic City Board of Education6.000% 04/01/20340.0%
Irvine Unif Sch Dist Fincg Auth, CA5.000% 09/01/20560.0%
Miami Dade Cnty Expwy Auth, FL5.000% 07/01/20280.0%
Cook Cnty, IL5.000% 11/15/20340.0%
Connecticut Hlth & Educl Facs Auth5.000% 07/01/20280.0%
California State Pub Wks Bd5.000% 10/01/20280.0%
San Jose, CA6.500% 05/01/20360.0%
Cnty of Miami-Dade FL Rickenbacker Causeway Rev5.000% 10/01/20290.0%
Sweetwater Un High Sch Dist, CA5.000% 08/01/20270.0%
New York City Mun Fin Auth5.000% 06/15/20360.0%
Golden St Tobacco Securitization Corp.5.000% 06/01/20300.0%
Michigan Tobacco Settlement Fin Auth5.125% 06/01/20220.0%
Orange Cnty Comnty Facs Dist5.250% 08/15/20450.0%
Harris County Toll Road Authority/The4.000% 08/15/20480.0%
NY Liberty Dev Corp - 3 World Trade Ctr5.000% 11/15/20440.0%
Sonoma Marin Area Rail Transit Dist, CA5.000% 03/01/20280.0%
City of Irvine CA5.000% 09/01/20440.0%
Maryland Econ Dev Corp.5.000% 12/01/20160.0%
Houston Cnty Cooperative Dist10.000% 05/01/20390.0%
District of Columbia, DC5.000% 06/01/20320.0%
Puerto Rico Sales Tax Fincg Corp4.784% 07/01/20580.0%
Puerto Rico Sales Tax Fincg Corp0.000% 07/01/20510.0%
Delaware River Port Auth, PA5.000% 01/01/20290.0%
DeKalb Co Hsp - Children's Healthcare5.000% 11/15/20290.0%
Louisiana Local Govt Envr Facs Comnty Dev Auth6.500% 11/01/20350.0%
Florida5.000% 07/01/20340.0%
Pub Fin Auth4.050% 11/01/20300.0%
NYC Cultural - Whitney Museum5.250% 07/01/20260.0%
New York St Envr Facs Corp.5.125% 06/15/20380.0%
Florida Hgr Edl Facs Fin Auth6.375% 04/01/20310.0%
Delaware Cnty Indus Dev Auth, PA5.000% 07/01/20430.0%
San Antonio Airport System5.000% 07/01/20260.0%
Illinois Fin Auth5.000% 04/01/20210.0%
Pennsylvania St Pub Sch Bldg Auth5.000% 04/01/20290.0%
Delano-Earlimart Irrigation District5.000% 02/01/20280.0%
Maryland Econ Dev Corp.5.000% 06/01/20440.0%
Brooklyn Arena Local Dev Corp.0.000% 07/15/20350.0%
Kirkwood Indus Dev Auth8.000% 05/15/20210.0%
Maine Hlth & Hgr Edl Facs Auth6.750% 07/01/20360.0%
California5.375% 11/01/20350.0%
Build NYC Resource Corp., NY5.000% 06/01/20340.0%
Hudson Yards Infrastr Corp., NY5.750% 02/15/20470.0%
ABAG Fin Auth For Nonprofit Corps, CA5.000% 08/01/20280.0%
Alachua Cnty Hlth Facs Auth8.000% 10/01/20420.0%
Jefferson Cnty, AL0.000% 10/01/20390.0%
Stone Canyon Comnty Impt Dist5.750% 04/01/20270.0%
Sparks, NV6.500% 06/15/20200.0%
Chicago, IL5.625% 01/01/20300.0%
ABAG Fin Auth For Nonprofit Corps, CA5.000% 08/01/20270.0%
Colorado Hlth Facs Auth5.000% 10/01/20320.0%
Texas Transp Comm0.000% 08/01/20460.0%
San Jose, CA5.500% 05/01/20260.0%
Chicago5.625% 01/01/20350.0%
Clifton Hgr Ed Fin Corp., TX5.000% 08/15/20420.0%
North Texas Tollway Auth5.000% 01/01/20310.0%
Puerto Rico Elec Pwr Auth4.250% 07/01/20270.0%
Chicago, IL5.500% 01/01/20420.0%
Philadelphia Hosp & Hgr Ed Fac Auth, PA5.625% 07/01/20360.0%
Dorm Auth of the St of New York5.000% 05/01/20290.0%
Puerto Rico Sales Tax Fincg Corp4.500% 07/01/20340.0%
Allentown Neighborhood Impt Zone Dev Auth5.000% 05/01/20270.0%
Illinois Fin Auth5.000% 09/01/20340.0%
Metropolitan Washington Arpts Auth, DC5.000% 10/01/20350.0%
Essex Cnty Imp Auth, NJ6.250% 11/01/20300.0%
Chicago, IL5.500% 01/01/20350.0%
Puerto Rico4.750% 07/01/20180.0%
Stone Canyon Comnty Impt Dist5.700% 04/01/20220.0%
Houston Cnty Cooperative Dist12.500% 06/07/20130.0%
Hudson Co Improvement Auth - Solid Waste5.750% 01/01/20350.0%
Puerto Rico Elec Pwr Auth5.000% 07/01/20280.0%
Iowa Tobacco Settlement Auth5.500% 06/01/20420.0%
Hempstead Town Local Dev Corp., NY5.000% 10/01/20340.0%
Pennsylvania St Pub Sch Bldg Auth5.000% 04/01/20310.0%
Puerto Rico Sales Tax Fincg Corp0.000% 07/01/20270.0%
Miami Dade Cnty Expwy Auth, FL5.000% 07/01/20270.0%
Puerto Rico Sales Tax Fincg Corp0.000% 07/01/20290.0%
Gainesville, FL5.250% 10/01/20340.0%
New Jersey Hlthcare Facs Fing Auth5.000% 07/01/20290.0%
Puerto Rico Pub Bldgs Auth5.000% 07/01/20360.0%
Selma Indus Dev Bd, AL5.800% 05/01/20340.0%
Cumberland Cnty Muni Auth, PA5.400% 01/01/20220.0%
Pennsylvania5.000% 07/01/20430.0%
Cumberland Cnty Muni Auth, PA5.250% 01/01/20210.0%
Houston Hgr Ed Fin Corp., TX6.875% 05/15/20410.0%
Puerto Rico Sales Tax Fincg Corp4.550% 07/01/20400.0%
Westchester Cnty Hlthcare Corp., NY6.000% 11/01/20300.0%
California Statewide Comntys Dev Auth6.625% 11/15/20240.0%
Puerto Rico Sales Tax Fincg Corp0.000% 07/01/20240.0%
Houston Hgr Ed Fin Corp., TX5.000% 02/15/20320.0%
Warren Cnty, MS5.800% 05/01/20340.0%
Puerto Rico Hwy & Transp Auth4.000% 07/01/20170.0%
Buckeye Tobacco Settlement Fing Auth0.000% 06/01/20520.0%
Puerto Rico Sales Tax Fincg Corp4.536% 07/01/20530.0%
Westchester Cnty Hlthcare Corp., NY6.125% 11/01/20370.0%
Middlesex Cnty Impt Auth6.250% 01/01/20370.0%
Middlesex Cnty Impt Auth6.125% 01/01/20250.0%
Dorm Auth of the St of New York5.000% 05/01/20290.0%
Gramercy Farms Comnty Dev Dist5.250% 05/01/20390.0%
US 20YR Treasury Future Dec 2009- -0.0%

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 11/15/2019
$0.325
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 10/31/2019 $0.03122 $11.77
Daily Daily 09/30/2019 $0.03139 $11.80
Daily Daily 08/31/2019 $0.03161 $11.92
Daily Daily 07/31/2019 $0.03212 $11.70
Daily Daily 06/30/2019 $0.03273 $11.64
Daily Daily 05/31/2019 $0.03279 $11.62
Daily Daily 04/30/2019 $0.03314 $11.45
Daily Daily 03/31/2019 $0.03285 $11.41
Daily Daily 02/28/2019 $0.03442 $11.22
Daily Daily 01/31/2019 $0.03355 $11.16

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 11/30/2019
Daily Daily 12/31/2019

Fees & Expenses

Fees & Expenses

Expense Ratioas of 10/31/2019

Fund Gross Expense Ratio Fund Net Expense Ratio
0.53% 0.50%

Expense ratio details, Click here.

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

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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.

 

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 value of an investment in the Fund will change as interest rates fluctuate in response to market movements. When interest rates rise, the prices of debt securities are likley to decline, and when interest rates fall, the prices of debt securities tend to rise. High-yielding non-investment grade bonds involve higher risk than investment grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on those securities. A portion of the income derived from the Fund's portfolio may be subject to the alternative minimum tax. Any capital gains realized may be subject to taxation. Federal, state, and local taxes may apply. There is a risk that a bond issued as tax-exempt may be reclassified by the IRS as taxable, creating taxable rather than tax-exempt income. In addition, the Fund is subject to other types of risks, such as call, credit, liquidity, interest rate, and general market risks. The Fund may invest in bonds of issuers in Puerto Rico and other U.S. territories, comonwealths, and possessions, and may be affected by local, state, and regional factors. These may include, for example, economic or political developments, erosion of the tax base, and the possibility of credit problems. Stockholders should consult with their tax advisor for more specific information on taxation.

 

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

 

 

Class F3 - The inception date for Class F3 shares is April 4, 2017. The performance quotations for Class F3 are based on the following methods of calculation: (a) for periods prior to April 4, 2017,  a figure is used based on the historical performance of the Fund’s Class I Shares, since inception, restated to reflect all charges and fees applicable to Class F3 shares; and (b) for periods after April 4, 2017, actual Class F3 performance is used, which reflects all charges and fees applicable to Class F3 shares.

Class F3 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

 

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

 

Returns shown at less than a year reflect aggregate total returns.

 

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.   

 

The Bloomberg Barclays Municipal Bond Index a rules-based, market-value-weighted index engineered for the long-term tax-exempt bond market.  Bonds must be rated investment-grade (Baa3/BBB- or higher) by at least two ratings agencies.  They must have an outstanding par value of at least $7 million and be issued as part of a transaction of at least $75 million. The bonds must be fixed rate, have a dated-date after December 31, 1990, and must be at least one year from their maturity date.

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.

The net expense ratio takes into account deductions for certain interest and related expenses from certain of the Fund's investments. Under accounting rules, the Fund recognized additional income in an amount that directly offsets these interest and related expenses. Therefore, the Fund's total returns and net asset value were not affected by such interest and related expenses.

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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