LONYX | New York Tax Free Fund Class F3 | Lord Abbett

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New York Tax Free Fund

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Daily price w/o sales charge as of 12/06/2022

$10.40

$0.00

YTD Returns w/o sales charge as of 12/06/2022

-12.03%

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 New York Tax Free Fund?

The Fund seeks to deliver a high level of income exempt from federal and state taxation by investing primarily in New York municipal bonds.

 

Yield

Dividend Yield 1 as of 12/06/2022  

w/o sales charge 3.14%

30-Day Standardized Yield 2 as of 11/30/2022  

3.89%

Fund Basicsas of 10/31/2022

Total Net Assets
$408.70 M
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Expense Ratio
0.54%
Number of Holdings
316

Fund Expense Ratio :

0.54%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -12.83% -12.67% -1.71% 0.99% 1.76% -
Lipper Category Avg. New York Municipal Debt Funds -11.17% -11.01% -1.54% 0.83% 1.43% -
Bloomberg Municipal Bond Index -8.79% -8.64% -0.77% 1.40% 1.98% -

Fund Expense Ratio :

0.54%

Fund Expense Ratio :

0.54%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -16.66% -15.70% -3.18% -0.06% 1.56% -
Lipper Category Avg. New York Municipal Debt Funds -14.74% -13.86% -2.87% -0.10% 1.26% -
Bloomberg Municipal Bond Index -12.13% -11.50% -1.85% 0.59% 1.79% -

Fund Expense Ratio :

0.54%

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

Three Muni Market Drivers
November 15, 2021

Lord Abbett Partner and Director, Daniel Solender breaks down how demand, supply, and the infrastructure bill are shaping today’s municipal bond market.

The Muni Quarterly

The Muni Quarterly offers insights from our analysts on key topics for municipal bond investors, along with essential market information.

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

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 10/31/2022 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

35 Years of Industry Experience

Philip B. Herman
Philip B. Herman

Partner, Portfolio Manager

23 Years of Industry Experience

Supported By 14 Investment Professionals with 15 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

Dividend Yield 1 as of 12/06/2022  

w/o sales charge 3.14%

30-Day Standardized Yield 2 as of 11/30/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 3.89% 3.89%

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

Fund Expense Ratio :

0.54%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -12.83% -12.67% -1.71% 0.99% 1.76% -
Lipper Category Avg. New York Municipal Debt Funds -11.17% -11.01% -1.54% 0.83% 1.43% -
Bloomberg Municipal Bond Index -8.79% -8.64% -0.77% 1.40% 1.98% -

Fund Expense Ratio :

0.54%

Fund Expense Ratio :

0.54%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -16.66% -15.70% -3.18% -0.06% 1.56% -
Lipper Category Avg. New York Municipal Debt Funds -14.74% -13.86% -2.87% -0.10% 1.26% -
Bloomberg Municipal Bond Index -12.13% -11.50% -1.85% 0.59% 1.79% -

Fund Expense Ratio :

0.54%

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 Municipal Bond Index
2021 3.57% 1.52%
2020 4.77% 5.21%
2019 8.52% 7.54%
2018 1.12% 1.28%
2017 4.99% 5.45%
2016 0.76% 0.25%
2015 3.38% 3.30%
2014 11.71% 9.05%
2013 -4.76% -2.55%
2012 10.88% 6.78%
2011 10.84% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -7.66% -5.44% -4.55% - -12.03%
2021 0.11% 3.03% -0.74% 1.16% 3.57%
2020 -2.37% 2.69% 0.80% 3.67% 4.77%
2019 3.44% 2.53% 1.94% 0.38% 8.52%
2018 -0.91% 1.05% -0.12% 1.11% 1.12%
2017 1.65% 2.05% 0.73% 0.48% 4.99%
2016 1.93% 3.37% 0.01% -4.38% 0.76%
2015 1.02% -1.03% 1.56% 1.81% 3.38%
2014 4.31% 3.14% 2.24% 1.56% 11.71%
2013 0.25% -4.02% -0.92% -0.10% -4.76%
2012 3.92% 2.32% 3.09% 1.15% 10.88%
2011 - 4.42% 2.93% 1.56% 10.84%

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
Special Tax
IDR/PCR
Healthcare/Hospital
Education
GO Local
Water & Sewer
Lease
Power
Housing
Pre-Refunded
GO State
Other
Treasury

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 10/31/2022

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 Details as of 10/31/2022

Total Net Assets
$408.70 M
Number of Issues
316
Average Coupon
4.6%
Average Effective Maturity
18.3 Years
Average Effective Duration
9.91 Years
Average Yield to Worst
5.04%

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 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
NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE 5.250% 12/24/2049 2.9%
NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE 5.000% 11/08/2044 1.9%
LIBERTY DEV CORP NY REVENUE 5.250% 09/28/2035 1.8%
TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX 5.500% 05/08/2052 1.3%
NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE 2.875% 11/08/2046 1.2%
NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE 4.000% 03/11/2043 1.1%
PORT AUTH OF NEW YORK & NEW JERSEY NY 4.000% 08/26/2043 1.1%
PORT AUTH OF NEW YORK & NEW JERSEY NY 5.500% 07/24/2052 1.0%
ONEIDA CO NY LOCAL DEV CORP REVENUE 4.000% 11/23/2049 1.0%
MET TRANSPRTN AUTH NY REVENUE 5.250% 11/12/2028 1.0%
% of Total Assets 14.3%

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.

Holding Coupon Maturity Assets
New York Transportation Development Corp5.250% 01/01/20502.8%
New York Liberty Development Corp5.000% 11/15/20441.8%
New York Liberty Development Corp5.250% 10/01/20351.8%
Triborough Bridge & Tunnel Authority5.500% 05/15/20521.2%
New York Liberty Development Corp2.875% 11/15/20461.1%
New York State Dormitory Authority4.000% 03/15/20431.0%
Port Authority of New York & New Jersey4.000% 09/01/20431.0%
Port Authority of New York & New Jersey5.500% 08/01/20521.0%
Oneida County Local Development Corp4.000% 12/01/20490.9%
Metropolitan Transportation Authority5.250% 11/15/20280.9%
New York Liberty Development Corp2.800% 09/15/20690.9%
New York State Dormitory Authority4.000% 09/01/20500.8%
New York Liberty Development Corp5.500% 10/01/20370.8%
Port Authority of New York & New Jersey5.000% 11/15/20310.8%
New York City Industrial Development Agency9.404% 03/01/20260.8%
New York City Municipal Water Finance Authority5.000% 06/15/20460.7%
New York State Dormitory Authority5.000% 03/15/20320.7%
City of New York NY5.000% 08/01/20290.7%
New York Transportation Development Corp4.000% 01/01/20360.7%
Triborough Bridge & Tunnel Authority Sales Tax Rev5.000% 05/15/20470.7%
City of New York NY5.000% 03/01/20440.7%
New York City Transitional Finance Authority Futur5.000% 08/01/20410.7%
Metropolitan Transportation Authority4.750% 11/15/20450.7%
Port Authority of New York & New Jersey5.000% 11/15/20320.7%
Port Authority of New York & New Jersey5.000% 09/15/20330.7%
Brooklyn Arena Local Development Corp5.000% 07/15/20420.7%
TSASC Inc/NY5.000% 06/01/20480.7%
New York City Transitional Finance Authority Futur5.000% 08/01/20420.6%
City of New York NY5.000% 10/01/20370.6%
New York City Municipal Water Finance Authority4.000% 06/15/20490.6%
Metropolitan Transportation Authority5.000% 11/15/20450.6%
City of New York NY5.000% 12/01/20440.6%
Metropolitan Transportation Authority4.000% 11/15/20510.6%
New York City Transitional Finance Authority Futur5.000% 08/01/20400.6%
Triborough Bridge & Tunnel Authority5.000% 11/15/20510.6%
New York State Thruway Authority5.000% 03/15/20460.6%
New York Transportation Development Corp4.000% 04/30/20530.6%
New York City Transitional Finance Authority Futur5.000% 02/01/20430.6%
Metropolitan Transportation Authority5.000% 11/15/20290.6%
New York Transportation Development Corp5.000% 10/01/20400.6%
New York City Municipal Water Finance Authority5.000% 06/15/20360.5%
New York Transportation Development Corp4.000% 12/01/20410.5%
City of New York NY5.500% 05/01/20440.5%
Long Island Power Authority5.250% 09/01/20290.5%
New York City Transitional Finance Authority Futur5.000% 11/01/20300.5%
New York Transportation Development Corp5.000% 01/01/20360.5%
Hudson Yards Infrastructure Corp5.000% 02/15/20310.5%
Triborough Bridge & Tunnel Authority5.500% 11/15/20570.5%
New York State Dormitory Authority4.000% 08/15/20500.5%
New York City Transitional Finance Authority Build5.000% 07/15/20350.5%
Metropolitan Transportation Authority5.000% 11/15/20470.5%
New York State Dormitory Authority5.000% 02/15/20420.5%
Westchester County Local Development Corp5.000% 11/01/20460.5%
Nassau County Local Economic Assistance Corp5.000% 07/01/20280.5%
New York State Dormitory Authority4.000% 07/01/20450.5%
New York State Thruway Authority5.000% 03/15/20480.5%
New York City Transitional Finance Authority Futur5.000% 02/01/20470.5%
New York State Dormitory Authority5.000% 03/15/20430.5%
New York City Industrial Development Agency3.000% 01/01/20460.5%
New York State Dormitory Authority5.000% 03/15/20450.5%
Jefferson County Civic Facility Development Corp5.000% 11/01/20370.5%
Long Island Power Authority5.000% 09/01/20340.5%
Port Authority of New York & New Jersey5.000% 11/15/20410.5%
New York State Dormitory Authority5.000% 07/01/20400.5%
New York State Urban Development Corp5.000% 03/15/20330.5%
New York Transportation Development Corp4.000% 12/01/20380.5%
Build NYC Resource Corp4.000% 07/01/20490.5%
Port Authority of New York & New Jersey4.000% 07/15/20360.5%
New York Liberty Development Corp2.100% 11/15/20320.4%
New York State Dormitory Authority5.000% 12/01/20290.4%
Metropolitan Transportation Authority5.000% 11/15/20500.4%
Metropolitan Transportation Authority5.000% 11/15/20330.4%
Hempstead Town Local Development Corp4.000% 02/01/20390.4%
Nassau County Tobacco Settlement Corp5.125% 06/01/20460.4%
New York Transportation Development Corp4.000% 07/01/20310.4%
New York City Transitional Finance Authority Futur4.000% 05/01/20430.4%
Westchester Tobacco Asset Securitization Corp5.125% 06/01/20510.4%
Metropolitan Transportation Authority5.000% 11/15/20300.4%
New York City Industrial Development Agency5.000% 07/01/20280.4%
Triborough Bridge & Tunnel Authority4.000% 05/15/20460.4%
Buffalo Municipal Water Finance Authority5.000% 07/01/20480.4%
New York City Municipal Water Finance Authority5.000% 06/15/20360.4%
Metropolitan Transportation Authority5.000% 11/15/20290.4%
New York State Thruway Authority5.000% 01/01/20360.4%
Trust for Cultural Resources of The City of New Yo4.000% 12/01/20330.4%
Dutchess County Local Development Corp5.000% 07/01/20350.4%
Triborough Bridge & Tunnel Authority4.000% 11/15/20480.4%
New York State Dormitory Authority4.000% 03/15/20470.4%
City of New York NY5.000% 08/01/20270.4%
New York State Dormitory Authority5.000% 01/01/20470.4%
New York State Dormitory Authority4.000% 05/01/20450.4%
New York City Municipal Water Finance Authority5.000% 06/15/20480.4%
New York City Municipal Water Finance Authority5.000% 06/15/20350.4%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev5.000% 07/01/20580.4%
New York State Dormitory Authority4.000% 03/15/20480.4%
Dutchess County Local Development Corp4.000% 07/01/20490.4%
New York Transportation Development Corp4.000% 07/01/20460.4%
Metropolitan Transportation Authority5.000% 11/15/20330.4%
New York City Transitional Finance Authority Futur5.000% 11/01/20320.4%
Westchester County Local Development Corp4.000% 06/01/20330.4%
Brookhaven Local Development Corp4.000% 10/01/20450.4%
Port Authority of New York & New Jersey5.000% 10/15/20330.4%
New York City Municipal Water Finance Authority5.250% 06/15/20370.4%
New York City Municipal Water Finance Authority5.000% 06/15/20350.4%
New York State Dormitory Authority5.000% 07/01/20420.4%
New York City Transitional Finance Authority Futur4.000% 11/01/20420.4%
Port Authority of New York & New Jersey5.000% 10/15/20270.4%
Niagara Area Development Corp4.750% 11/01/20420.4%
New York State Urban Development Corp5.000% 03/15/20360.4%
New York City Industrial Development Agency4.000% 03/01/20450.4%
New York Transportation Development Corp5.000% 01/01/20230.3%
New York State Dormitory Authority4.000% 08/01/20370.3%
New York City Industrial Development Agency3.000% 01/01/20400.3%
New York Transportation Development Corp4.000% 12/01/20420.3%
New York City Transitional Finance Authority Futur5.250% 11/01/20370.3%
New York State Urban Development Corp4.000% 03/15/20470.3%
Troy Capital Resource Corp5.000% 08/01/20320.3%
New York City Transitional Finance Authority Futur5.000% 05/01/20430.3%
City of New York NY5.000% 04/01/20450.3%
New York Transportation Development Corp5.250% 08/01/20310.3%
New York City Transitional Finance Authority Futur4.000% 11/01/20420.3%
New York City Transitional Finance Authority Futur2.750% 05/01/20340.3%
New York City Industrial Development Agency3.000% 03/01/20490.3%
Long Island Power Authority4.000% 09/01/20380.3%
New York City Industrial Development Agency3.000% 03/01/20490.3%
New York City Housing Development Corp3.350% 11/01/20650.3%
New York City Transitional Finance Authority Futur5.000% 05/01/20350.3%
Metropolitan Transportation Authority5.250% 11/15/20310.3%
New York State Environmental Facilities Corp2.875% 12/01/20440.3%
Dutchess County Local Development Corp4.000% 09/01/20510.3%
New York State Dormitory Authority4.000% 08/01/20380.3%
City of New York NY5.250% 09/01/20430.3%
New York Transportation Development Corp4.000% 10/31/20460.3%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev0.000% 07/01/20510.3%
Build NYC Resource Corp5.000% 06/15/20510.3%
Metropolitan Transportation Authority5.250% 11/15/20350.3%
Triborough Bridge & Tunnel Authority5.000% 11/15/20470.3%
Broome County Local Development Corp3.000% 04/01/20370.3%
Metropolitan Transportation Authority5.000% 11/15/20340.3%
Build NYC Resource Corp5.000% 08/01/20330.3%
Build NYC Resource Corp4.000% 07/01/20440.3%
Build NYC Resource Corp5.000% 07/01/20410.3%
Long Island Power Authority5.000% 09/01/20470.3%
Hudson Yards Infrastructure Corp5.000% 02/15/20330.3%
NEW YORK TRANSPORTATION DEVELO NYTTRN 12/39 FIXED 50.000% 01/01/19000.3%
Erie County Industrial Development Agency/The5.000% 05/01/20280.3%
Port Authority of New York & New Jersey5.000% 04/01/20360.3%
New York Transportation Development Corp4.000% 12/01/20400.3%
New York State Dormitory Authority5.000% 07/01/20290.3%
City of New York NY5.000% 10/01/20390.2%
Port Authority of New York & New Jersey5.000% 09/15/20340.2%
Triborough Bridge & Tunnel Authority5.000% 11/15/20380.2%
New York City Municipal Water Finance Authority5.250% 06/15/20470.2%
New York State Dormitory Authority5.000% 10/01/20270.2%
Port Authority of New York & New Jersey5.000% 10/15/20330.2%
Port Authority of New York & New Jersey5.000% 09/15/20280.2%
Metropolitan Transportation Authority5.000% 11/15/20410.2%
New York State Dormitory Authority5.000% 05/01/20280.2%
New York State Dormitory Authority5.000% 07/01/20390.2%
New York State Dormitory Authority5.000% 08/01/20330.2%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev4.750% 07/01/20530.2%
New York State Urban Development Corp5.000% 03/15/20400.2%
Niagara Frontier Transportation Authority5.000% 04/01/20270.2%
Dutchess County Local Development Corp4.000% 07/01/20350.2%
New York Liberty Development Corp7.250% 11/15/20440.2%
TSASC Inc/NY5.000% 06/01/20340.2%
Build NYC Resource Corp5.000% 06/01/20400.2%
Dutchess County Local Development Corp4.000% 07/01/20440.2%
New York State Dormitory Authority5.000% 12/01/20260.2%
Buffalo & Erie County Industrial Land Development5.000% 11/15/20370.2%
Long Island Power Authority5.000% 09/01/20390.2%
New York State Dormitory Authority5.000% 05/01/20380.2%
New York Transportation Development Corp5.375% 08/01/20360.2%
Brookhaven Local Development Corp5.000% 10/01/20500.2%
Westchester County Local Development Corp5.000% 11/01/20330.2%
Troy Capital Resource Corp4.000% 09/01/20360.2%
New York State Dormitory Authority5.000% 07/15/20370.2%
Southold Local Development Corp5.000% 12/01/20450.2%
Westchester County Local Development Corp5.000% 11/01/20340.2%
New York City Housing Development Corp4.500% 02/15/20480.2%
Genesee County Funding Corp/The5.250% 12/01/20520.2%
Westchester County Local Development Corp5.000% 06/01/20470.2%
New York State Dormitory Authority5.000% 07/15/20420.2%
Long Island Power Authority4.000% 09/01/20390.2%
Erie Tobacco Asset Securitization Corp0.000% 06/01/20600.2%
New York City Transitional Finance Authority Futur4.000% 08/01/20390.2%
Puerto Rico Electric Power Authority0.000% 07/01/20360.2%
Tompkins County Development Corp5.000% 07/01/20440.2%
New York State Dormitory Authority5.000% 05/01/20230.2%
Dutchess County Local Development Corp5.000% 07/01/20450.2%
Metropolitan Transportation Authority5.000% 11/15/20280.2%
Dutchess County Local Development Corp5.000% 07/01/20510.2%
Monroe County Industrial Development Corp/NY4.000% 07/01/20430.2%
New York State Dormitory Authority4.000% 07/01/20450.2%
Niagara Frontier Transportation Authority5.000% 04/01/20360.2%
New York Transportation Development Corp3.000% 08/01/20310.2%
New York Counties Tobacco Trust IV0.000% 06/01/20600.2%
Dutchess County Local Development Corp4.000% 07/01/20370.2%
New York Transportation Development Corp4.000% 12/01/20410.2%
Brookhaven Local Development Corp4.000% 11/01/20450.2%
New York Transportation Development Corp5.000% 12/01/20420.2%
Troy Capital Resource Corp4.000% 09/01/20400.2%
Port Authority of New York & New Jersey5.000% 09/01/20320.2%
Hempstead Town Local Development Corp5.000% 07/01/20340.2%
New York State Dormitory Authority5.000% 07/01/20320.2%
Broome County Local Development Corp3.000% 04/01/20360.2%
New York State Dormitory Authority5.000% 07/01/20280.2%
Niagara Area Development Corp5.000% 07/01/20520.2%
Brookhaven Local Development Corp4.000% 11/01/20550.2%
New York State Dormitory Authority5.000% 07/01/20330.2%
Troy Capital Resource Corp4.000% 09/01/20340.2%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev4.329% 07/01/20400.2%
Niagara Frontier Transportation Authority5.000% 04/01/20380.2%
New York Liberty Development Corp5.150% 11/15/20340.2%
City of Syracuse NY4.000% 05/15/20340.2%
Metropolitan Transportation Authority5.000% 11/15/20300.2%
Metropolitan Transportation Authority5.250% 11/15/20320.2%
New York Transportation Development Corp4.000% 10/31/20410.2%
New York State Housing Finance Agency3.150% 11/01/20540.2%
New York State Dormitory Authority3.000% 02/01/20500.2%
Nassau County Tobacco Settlement Corp0.000% 06/01/20600.2%
Suffolk Tobacco Asset Securitization Corp0.000% 06/01/20660.2%
Nassau County Local Economic Assistance Corp5.000% 07/01/20270.1%
New York State Dormitory Authority4.000% 07/01/20370.1%
Buffalo & Fort Erie Public Bridge Authority5.000% 01/01/20340.1%
Hempstead Town Local Development Corp5.000% 07/01/20370.1%
Buffalo Municipal Water Finance Authority5.000% 07/01/20430.1%
Nassau County Local Economic Assistance Corp5.000% 07/01/20330.1%
Territory of Guam4.000% 01/01/20420.1%
Guam Government Waterworks Authority5.000% 01/01/20500.1%
City of New York NY2.750% 06/01/20440.1%
Rockland Tobacco Asset Securitization Corp0.000% 08/15/20600.1%
Onondaga Civic Development Corp5.000% 07/01/20460.1%
New York State Dormitory Authority5.000% 07/01/20350.1%
Hempstead Town Local Development Corp5.000% 07/01/20420.1%
Hempstead Town Local Development Corp5.000% 07/01/20390.1%
TSASC Inc/NY5.000% 06/01/20410.1%
New York Transportation Development Corp5.000% 12/01/20340.1%
Schenectady County Capital Resource Corp5.250% 07/01/20520.1%
City of Long Beach NY5.250% 07/15/20340.1%
Hempstead Town Local Development Corp5.000% 06/01/20290.1%
City of Long Beach NY5.250% 07/15/20420.1%
City of Long Beach NY5.250% 07/15/20370.1%
New York State Dormitory Authority5.000% 07/01/20320.1%
New York State Dormitory Authority5.000% 08/01/20350.1%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit5.000% 07/01/20300.1%
Metropolitan Transportation Authority5.250% 11/15/20340.1%
St Lawrence County Industrial Development Agency5.000% 09/01/20380.1%
Commonwealth of Puerto Rico0.000% 11/01/20430.1%
Onondaga Civic Development Corp5.000% 07/01/20360.1%
New York State Environmental Facilities Corp2.750% 09/01/20500.1%
St Lawrence County Industrial Development Agency5.000% 09/01/20370.1%
Westchester County Local Development Corp5.000% 07/01/20420.1%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev0.000% 07/01/20310.1%
Monroe County Industrial Development Corp/NY4.000% 12/01/20350.1%
New York State Dormitory Authority4.000% 07/01/20340.1%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev4.329% 07/01/20400.1%
City of Long Beach NY5.250% 07/15/20350.1%
Guam Government Waterworks Authority5.000% 07/01/20360.1%
New York State Dormitory Authority4.000% 07/01/20470.1%
New York State Dormitory Authority4.000% 08/01/20360.1%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev0.000% 07/01/20330.1%
Dutchess County Local Development Corp5.000% 07/01/20330.1%
Erie Tobacco Asset Securitization Corp0.000% 06/01/20550.1%
Monroe County Industrial Development Corp/NY5.000% 07/01/20310.1%
New York State Dormitory Authority5.000% 08/01/20340.1%
Hempstead Town Local Development Corp5.000% 06/01/20310.1%
Monroe County Industrial Development Corp/NY4.000% 12/01/20360.1%
New York State Dormitory Authority5.000% 07/01/20460.1%
Onondaga Civic Development Corp5.000% 07/01/20350.1%
Albany Capital Resource Corp5.000% 05/01/20300.1%
Niagara Frontier Transportation Authority5.000% 04/01/20390.1%
Port Authority of New York & New Jersey5.000% 09/15/20480.1%
Hempstead Town Local Development Corp5.000% 06/01/20320.1%
Onondaga Civic Development Corp4.000% 07/01/20410.1%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev4.550% 07/01/20400.1%
Troy Capital Resource Corp4.000% 09/01/20350.1%
Metropolitan Transportation Authority4.000% 11/15/20350.1%
Monroe Tobacco Asset Securitization Corp0.000% 06/01/20610.1%
City of Long Beach NY5.250% 07/15/20360.1%
TSASC Inc/NY5.000% 06/01/20350.1%
New York State Dormitory Authority4.000% 07/01/20360.1%
Buffalo & Erie County Industrial Land Development5.000% 07/01/20250.1%
New York Transportation Development Corp4.000% 12/01/20390.1%
County of Erie NY5.000% 09/15/20280.1%
Dutchess County Local Development Corp5.000% 07/01/20340.1%
Dutchess County Local Development Corp4.000% 07/01/20400.1%
Brookhaven Local Development Corp3.375% 10/01/20400.1%
Dutchess County Local Development Corp5.000% 07/01/20460.1%
New York State Dormitory Authority5.000% 07/01/20270.1%
Port Authority of New York & New Jersey5.000% 09/15/20290.1%
Albany Capital Resource Corp5.000% 05/01/20320.1%
City of New Rochelle NY5.000% 07/01/20290.1%
Monroe County Industrial Development Corp/NY5.000% 12/01/20340.1%
Onondaga Civic Development Corp4.000% 07/01/20400.1%
Build NYC Resource Corp5.000% 01/01/20350.1%
City of New Rochelle NY5.000% 07/01/20300.1%
Commonwealth of Puerto Rico5.375% 07/01/20250.1%
Commonwealth of Puerto Rico5.625% 07/01/20270.1%
Hempstead Town Local Development Corp5.000% 06/01/20300.1%
New York State Dormitory Authority4.000% 01/01/20430.1%
City of New Rochelle NY5.000% 07/01/20280.0%
Commonwealth of Puerto Rico5.625% 07/01/20290.0%
Commonwealth of Puerto Rico5.750% 07/01/20310.0%
Westchester County Local Development Corp5.000% 07/01/20340.0%
City of New Rochelle NY5.000% 07/01/20310.0%
New York City Industrial Development Agency0.000% 03/01/20440.0%
Dutchess County Local Development Corp5.000% 07/01/20410.0%
New York Transportation Development Corp2.250% 08/01/20260.0%
Commonwealth of Puerto Rico4.000% 07/01/20330.0%
New York State Thruway Authority5.000% 01/01/20320.0%
St Lawrence County Industrial Development Agency5.000% 09/01/20410.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev4.784% 07/01/20580.0%
Commonwealth of Puerto Rico4.000% 07/01/20350.0%
New York City Industrial Development Agency0.000% 03/01/20430.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev4.550% 07/01/20400.0%
Commonwealth of Puerto Rico0.000% 07/01/20330.0%
Build NYC Resource Corp4.500% 01/01/20250.0%
Onondaga Civic Development Corp4.000% 07/01/20380.0%
Commonwealth of Puerto Rico4.000% 07/01/20370.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev0.000% 07/01/20290.0%
Commonwealth of Puerto Rico5.250% 07/01/20230.0%
Westchester County Healthcare Corp/NY6.000% 11/01/20300.0%
New York City Industrial Development Agency0.000% 03/01/20470.0%
TSASC Inc/NY5.000% 06/01/20360.0%
Brooklyn Arena Local Development Corp0.000% 07/15/20470.0%
Commonwealth of Puerto Rico0.000% 07/01/20240.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev4.536% 07/01/20530.0%
Westchester County Healthcare Corp/NY6.125% 11/01/20370.0%
New York State Dormitory Authority5.000% 05/01/20230.0%
New York State Dormitory Authority5.000% 02/15/20410.0%
USZ2 - Futures0.000% 01/01/19000.0%

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 12/06/2022
$0.277
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2022 $0.02718 $10.31
Daily Daily 10/31/2022 $0.02650 $9.73
Daily Daily 09/30/2022 $0.02604 $9.91
Daily Daily 08/31/2022 $0.02525 $10.45
Daily Daily 07/31/2022 $0.02548 $10.78
Daily Daily 06/30/2022 $0.02532 $10.46
Daily Daily 05/31/2022 $0.02479 $10.82
Daily Daily 04/30/2022 $0.02501 $10.70
Daily Daily 03/31/2022 $0.02426 $11.14
Daily Daily 02/28/2022 $0.02463 $11.62
Daily Daily 01/31/2022 $0.02296 $11.74

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 12/31/2022

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/19/2018 12/20/2018 $0.0038 - $0.0038 $11.11
*

Taxed as ordinary income

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

Upcoming Capital Gain Distribution

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
12/21/2022 12/22/2022

Fees & Expenses

Fees & Expenses

Expense Ratioas of 11/30/2022

0.54%

Expense ratio details, Click here.

Fund Documents

Fund Documents

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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 yields reflect 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

 

*"Barron's Best Fund Families of 2021", #7 ranking in the Tax Exempt Bond category based on the net total return of the one-year period ending 12/31/2021, among 51 qualifying fund families.  Ranking for the ten-year period ending 12/31/2021 is #4 out of 45 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2021,” February 18, 2022. Barron’s rankings are based on asset weighted returns in funds in five categories: general equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2021, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2020 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well.

Barron's Fund Family Rankings are awarded annually.

To qualify for the ranking, firms must offer at least three active mutual funds or actively run ETFs in Lipper’s general U.S. stock category; one in world equity; and one mixed asset, such as a balanced or allocation fund. They also need to offer at least two taxable bond funds and one national tax-exempt bond fund. All funds must have a track record of at least one year. While the ranking excludes index funds, it does include actively managed ETFs and “smart beta” ETFs, which are run passively but built on active investment strategies.

© Refinitiv Lipper 2022. All Rights Reserved. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Lipper provides global, independent fund performance data. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

 

A Note about Risk: The Fund invests a significant percentage of its assets in the securities of a single state. As a result, an investment in the Fund may be riskier than an investment in other, more diversified municipal bond funds. 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 likely to decline, and when interest rates fall, the price of debt securities tend to rise. High-yield securities, sometimes called "junk bonds" carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. 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. The Fund may invest in bonds of issuers in Puerto Rico and other U.S. territories, commonwealths, 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. These factors can affect Fund performance.

 

 

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

 

 

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 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.

 

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

 

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

 

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 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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