LDCRX | Short Duration Core Bond Fund Class R3 | Lord Abbett

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Short Duration Core Bond Fund

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Daily price w/o sales charge as of 05/26/2023

$9.08

arrowDown$0.01

YTD Returns w/o sales charge as of 05/26/2023

1.24%

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 Short Duration Core Bond Fund ?

The Fund seeks to deliver current income consistent with the preservation of capital by investing in a wide variety of short duration investment grade debt securities including corporate debt securities, U.S. government and government-related securities, and mortgage-backed and other asset-backed securities.
 

EXPERIENCED, TENURED TEAM

Constructed through the collaboration among 50+ investment professionals with extensive experience managing, researching, and trading short-term debt securities. 

HIGH QUALITY, LOW DURATION

Seeks to generate attractive income by investing in a broad range of high-quality, short duration bonds, limiting credit risk and interest rate risk.

LOW EXPENSES

Offers lower expenses relative to its Lipper and Morningstar peer group category average.

Yield

Dividend Yield as of 05/26/2023  

  Subsidized Un-Subsidized
w/o sales charge 4.34% 4.15%

30-Day Standardized Yield as of 04/30/2023  

  Subsidized Un-Subsidized
w/o sales charge 4.45% 4.30%

Average Yield to Worst as of 04/28/2023

5.85%

Yield-To-Worst - The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.

Fund Basicsas of 04/28/2023

Total Net Assets
$359.06 M
Inception Date
04/20/2017
Dividend Frequency
Monthly
Fund Gross Expense Ratio
1.09%
Fund Net Expense Ratio
0.90%
Number of Holdings
504

Fund Expense Ratio :

Gross 1.09%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/19/2017
w/o sales charge 2.04% 1.15% 0.39% 1.13% - 0.98%
Lipper Category Avg. Short Investment Grade Debt Funds 2.13% 1.19% 0.75% 1.40% - -
Bloomberg 1-3 Year US Government/Credit Bond Index 1.86% 1.15% -0.47% 1.35% - 1.10%
w/ sales charge 2.04% 1.15% 0.39% 1.13% - 0.98%

Fund Expense Ratio :

Gross 1.09%

Net 0.90%

Fund Expense Ratio :

Gross 1.09%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/19/2017
w/o sales charge 1.56% 0.00% 0.87% 1.02% - 0.91%
Lipper Category Avg. Short Investment Grade Debt Funds 1.63% -0.12% 1.21% 1.30% - -
Bloomberg 1-3 Year US Government/Credit Bond Index 1.51% 0.26% -0.37% 1.26% - 1.06%

Fund Expense Ratio :

Gross 1.09%

Net 0.90%

RELATED CONTENT

In a Changing Fixed Income Market, Consider Short Term Credit
May 11, 2020

In our opinion, the U.S. Fed’s response to the pandemic-related economic shock has created potential investment opportunities in short term credit.

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

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

Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years

CREDIT QUALITY DISTRIBUTION as of 04/28/2023 View Portfolio

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

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

INVESTMENT TEAM

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

29 Years of Industry Experience

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

Partner & Portfolio Manager

25 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Partner, Portfolio Manager

15 Years of Industry Experience

Yoana N. Koleva
Yoana N. Koleva, CFA

Partner, Portfolio Manager

20 Years of Industry Experience

Supported By 78 Investment Professionals with 17 Years Avg. Industry Experience

Your Representative

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

Performance

Performance

Dividend Yield 1 as of 05/26/2023  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.34% 4.15%

30-Day Standardized Yield 2 as of 04/30/2023  

  Subsidized Un-Subsidized
w/o sales charge 4.45% 4.30%

Fund Expense Ratio :

Gross 1.09%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/19/2017
w/o sales charge 2.04% 1.15% 0.39% 1.13% - 0.98%
Lipper Category Avg. Short Investment Grade Debt Funds 2.13% 1.19% 0.75% 1.40% - -
Bloomberg 1-3 Year US Government/Credit Bond Index 1.86% 1.15% -0.47% 1.35% - 1.10%
w/ sales charge 2.04% 1.15% 0.39% 1.13% - 0.98%

Fund Expense Ratio :

Gross 1.09%

Net 0.90%

Fund Expense Ratio :

Gross 1.09%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/19/2017
w/o sales charge 1.56% 0.00% 0.87% 1.02% - 0.91%
Lipper Category Avg. Short Investment Grade Debt Funds 1.63% -0.12% 1.21% 1.30% - -
Bloomberg 1-3 Year US Government/Credit Bond Index 1.51% 0.26% -0.37% 1.26% - 1.06%

Fund Expense Ratio :

Gross 1.09%

Net 0.90%

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 1-3 Year US Government/Credit Bond Index
2022 -3.97% -3.69%
2021 -0.22% -0.47%
2020 2.14% 3.33%
2019 4.36% 4.03%
2018 1.21% 1.60%
2017 0.53% 0.84%
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 1.56% - - - -
2022 -2.48% -1.36% -1.25% 1.09% -3.97%
2021 0.05% 0.22% 0.04% -0.53% -0.22%
2020 -3.16% 3.88% 0.83% 0.70% 2.14%
2019 1.50% 1.46% 0.74% 0.59% 4.36%
2018 -0.20% 0.30% 0.45% 0.65% 1.21%
2017 - - 0.35% -0.03% 0.53%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

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

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

Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years

CREDIT QUALITY DISTRIBUTION as of 04/28/2023

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

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

Portfolio Details as of 04/28/2023

Total Net Assets
$359.06 M
Number of Issues
504
Average Coupon
4.28%
Average Life
1.83 Years
Average Effective Duration
1.86 Years
Average Yield to Worst
5.85%

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.

Modified Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates. Duration is expressed as a number of years, and generally, the larger a portfolio’s duration, the greater the interest-rate risk or reward for underlying bond prices. Where applicable, securities, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs and ADRs and futures, are excluded from these calculations.

Yield-To-Worst - The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.

Holding Coupon Maturity Assets
United States Treasury Note/Bond 3.875% 03/31/2025 4.2%
Jabil Inc 0.000% 05/01/2023 1.3%
Svensk Exportkredit AB 4.000% 07/15/2025 1.1%
Bank of America Corp 3.384% 04/02/2026 1.0%
Bank of America Corp 3.864% 07/23/2024 1.0%
Hilton Worldwide Finance LLC 6.821% 06/22/2026 0.9%
International Flavors & Fragrances Inc 1.230% 10/01/2025 0.8%
Charter Communications Operating LLC 6.721% 04/30/2025 0.8%
United States Treasury Bill 0.000% 07/05/2023 0.7%
Nissan Motor Acceptance Co LLC 3.875% 09/21/2023 0.7%
% of Total Assets 12.5%
Holding Coupon Maturity Assets
United States Treasury Note/Bond3.875% 03/31/20254.1%
Morgan Stanley3.737% 04/24/20241.4%
FMC Corp0.000% 04/03/20231.2%
Svensk Exportkredit AB4.375% 02/13/20261.1%
Bank of America Corp3.384% 04/02/20261.0%
Bank of America Corp3.864% 07/23/20241.0%
Hilton Worldwide Finance LLC6.642% 06/22/20260.8%
International Flavors & Fragrances Inc1.230% 10/01/20250.8%
Charter Communications Operating LLC6.557% 04/30/20250.8%
United States Treasury Bill0.000% 07/05/20230.7%
Japan Bank for International Cooperation4.250% 01/26/20260.7%
Nissan Motor Acceptance Co LLC3.875% 09/21/20230.7%
Jabil Inc0.000% 04/03/20230.6%
JPMorgan Chase & Co3.797% 07/23/20240.6%
United States Treasury Inflation Indexed Bonds0.250% 01/15/20250.6%
CenterPoint Energy Inc5.252% 05/13/20240.6%
T-Mobile USA Inc2.625% 04/15/20260.6%
GA Global Funding Trust3.850% 04/11/20250.6%
Royal Bank of Canada4.854% 10/07/20240.6%
Bayer US Finance II LLC3.875% 12/15/20230.6%
Toronto-Dominion Bank/The4.991% 09/10/20240.6%
Air Lease Corp4.250% 02/01/20240.6%
Warnermedia Holdings Inc3.428% 03/15/20240.5%
Cleco Corporate Holdings LLC3.743% 05/01/20260.5%
Jackson National Life Global Funding5.500% 01/09/20260.5%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust1.750% 10/29/20240.5%
United States Treasury Note/Bond4.125% 01/31/20250.5%
Protective Life Global Funding5.366% 01/06/20260.5%
TD SYNNEX Corp1.250% 08/09/20240.5%
Jersey Central Power & Light Co4.700% 04/01/20240.5%
Boeing Co/The1.433% 02/04/20240.5%
Alexander Funding Trust1.841% 11/15/20230.5%
CommonSpirit Health0.000% 04/19/20230.5%
Glencore Funding LLC4.625% 04/29/20240.5%
Stellantis NV5.250% 04/15/20230.5%
Reynolds American Inc4.450% 06/12/20250.5%
EQT Corp6.125% 02/01/20250.5%
Churchill Downs Inc6.850% 12/27/20240.5%
Centene Corp4.250% 12/15/20270.5%
Bayer Corp0.000% 07/21/20230.5%
Rogers Communications Inc4.100% 10/01/20230.5%
Viterra Finance BV2.000% 04/21/20260.5%
American Tower Corp3.650% 03/15/20270.5%
Continental Resources Inc/OK2.268% 11/15/20260.5%
Quanta Services Inc0.000% 04/03/20230.4%
NiSource Inc5.250% 03/30/20280.4%
UBS Group AG5.711% 01/12/20270.4%
JPMorgan Chase & Co3.782% 02/01/20280.4%
Devon Energy Corp5.250% 10/15/20270.4%
VICI Properties LP / VICI Note Co Inc3.500% 02/15/20250.4%
Ford Credit Auto Lease Trust 2023-A4.940% 03/15/20260.4%
Celanese US Holdings LLC5.900% 07/05/20240.4%
Santander Drive Auto Receivables Trust 2022-64.720% 06/15/20270.4%
CarMax Auto Owner Trust 2023-15.190% 01/16/20290.4%
Invitation Homes Operating Partnership LP5.840% 01/31/20250.4%
UniCredit SpA7.830% 12/04/20230.4%
Citigroup Inc5.610% 09/29/20260.4%
UBS Group AG4.488% 05/12/20260.4%
System Energy Resources Inc6.000% 04/15/20280.4%
Dell International LLC / EMC Corp6.020% 06/15/20260.4%
Flagship Credit Auto Trust 2022-34.550% 04/15/20270.4%
Continental Resources Inc/OK3.800% 06/01/20240.4%
Bank of America Corp1.197% 10/24/20260.4%
Capital One Financial Corp5.355% 12/06/20240.4%
F&G Global Funding5.150% 07/07/20250.4%
Macquarie Group Ltd6.207% 11/22/20240.4%
Royal Bank of Canada4.875% 01/12/20260.4%
Brighthouse Financial Global Funding5.284% 04/12/20240.4%
Hexcel Corp4.950% 08/15/20250.4%
VICI Properties LP / VICI Note Co Inc4.625% 06/15/20250.4%
Ovintiv Exploration Inc5.375% 01/01/20260.4%
Rad CLO 6 Ltd6.188% 01/20/20330.4%
East Ohio Gas Co/The1.300% 06/15/20250.4%
ITC Holdings Corp3.650% 06/15/20240.4%
PenFed Auto Receivables Owner Trust 2022-A3.960% 04/15/20260.4%
Westlake Automobile Receivables Trust 2023-15.210% 01/18/20280.4%
Amazon.com Inc4.550% 12/01/20270.4%
Aviation Capital Group LLC3.875% 05/01/20230.4%
Madison Park Funding LIX Ltd5.935% 01/18/20340.3%
Prestige Auto Receivables Trust 2022-16.550% 07/17/20280.3%
Hyatt Hotels Corp1.300% 10/01/20230.3%
Viper Energy Partners LP5.375% 11/01/20270.3%
Capital One Multi-Asset Execution Trust5.342% 05/15/20280.3%
Phillips 66 Co3.550% 10/01/20260.3%
Metropolitan Life Global Funding I0.400% 01/07/20240.3%
NatWest Group PLC4.519% 06/25/20240.3%
Huntington Ingalls Industries Inc3.844% 05/01/20250.3%
TARGA RESOURCES CORP6.151% 07/12/20250.3%
Manufacturers & Traders Trust Co4.650% 01/27/20260.3%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust4.875% 01/16/20240.3%
Enbridge Inc5.235% 02/16/20240.3%
Avolon Holdings Funding Ltd5.500% 01/15/20260.3%
Master Credit Card Trust0.790% 11/21/20250.3%
UBS AG5.125% 05/15/20240.3%
Santander Consumer Auto Receivables Trust 2020-B2.140% 12/15/20260.3%
First-Citizens Bank & Trust Co2.969% 09/27/20250.3%
US 2YR NOTE (CBT) Jun230.000% 07/06/20230.3%
Duke Energy Corp5.000% 12/08/20250.3%
SMRT 2022-MINI5.827% 01/15/20390.3%
NatWest Group PLC4.269% 03/22/20250.3%
Citigroup Inc3.352% 04/24/20250.3%
Santander Drive Auto Receivables Trust 2022-54.430% 03/15/20270.3%
Netflix Inc4.375% 11/15/20260.3%
AES Corp/The3.300% 07/15/20250.3%
Radian Group Inc4.500% 10/01/20240.3%
AMERICAN TOWER CORPORATION0.059% 12/08/20230.3%
CNO Global Funding1.650% 01/06/20250.3%
Octane Receivables Trust 2022-25.850% 07/20/20280.3%
Toronto-Dominion Bank/The4.693% 09/15/20270.3%
Fidelity & Guaranty Life Holdings Inc5.500% 05/01/20250.3%
Netflix Inc4.875% 04/15/20280.3%
Celanese US Holdings LLC0.061% 10/31/20230.3%
Hyundai Capital America0.800% 04/03/20230.3%
Avolon TLB Borrower 1 US LLC6.511% 01/15/20250.3%
TORONTO DOMINION BANK THE0.010% 04/03/20230.3%
Capital One Financial Corp4.166% 05/09/20250.3%
Rad CLO 7 Ltd5.992% 04/17/20330.3%
HCA Inc5.000% 03/15/20240.3%
Manufacturers & Traders Trust Co5.400% 11/21/20250.3%
Arbor Realty Commercial Real Estate Notes 2022-FL1 Ltd6.008% 01/15/20370.3%
Metropolitan Life Global Funding I4.050% 08/25/20250.3%
Dominion Energy Inc0.000% 08/15/20240.3%
Flagship Credit Auto Trust 2023-15.010% 08/16/20270.3%
Citigroup Inc3.887% 01/10/20280.3%
Danske Bank A/S3.244% 12/20/20250.3%
Philip Morris International Inc5.125% 11/15/20240.3%
GM Financial Consumer Automobile Receivables Trust 2023-14.660% 02/16/20280.3%
Southwest Gas Corp5.800% 12/01/20270.3%
SCF Equipment Leasing 2021-1 LLC1.370% 08/20/20290.3%
National Fuel Gas Co5.500% 01/15/20260.3%
BHMS 2018-ATLS5.934% 07/15/20350.3%
Delos Finance Sarl6.909% 10/06/20230.3%
OCP CLO 2020-18 Ltd5.898% 07/20/20320.3%
Bank of Ireland Group PLC4.500% 11/25/20230.2%
Australia & New Zealand Banking Group Ltd4.400% 05/19/20260.2%
Puget Energy Inc3.650% 05/15/20250.2%
Vistra Operations Co LLC3.550% 07/15/20240.2%
Pennsylvania Electric Co5.150% 03/30/20260.2%
Evergy Missouri West Inc5.150% 12/15/20270.2%
HSBC Holdings PLC4.292% 09/12/20260.2%
BAT Capital Corp2.789% 09/06/20240.2%
Danske Bank A/S3.773% 03/28/20250.2%
Advance Auto Parts Inc5.900% 03/09/20260.2%
BHMS 2018-ATLS6.584% 07/15/20350.2%
SCF Equipment Leasing 2020-1 LLC2.020% 03/20/20280.2%
Morgan Stanley5.050% 01/28/20270.2%
Regal Rexnord Corp6.050% 02/15/20260.2%
Fells Point Funding Trust3.046% 01/31/20270.2%
Post Road Equipment Finance 2022-14.880% 11/15/20280.2%
First-Citizens Bank & Trust Co3.929% 06/19/20240.2%
Goldman Sachs Group Inc/The5.250% 01/24/20250.2%
Nuveen Finance LLC4.125% 11/01/20240.2%
GE HealthCare Technologies Inc5.550% 11/15/20240.2%
NUTRITION BIOSCIENCES INC0.063% 02/01/20240.2%
Avid Automobile Receivables Trust 2021-11.550% 05/15/20260.2%
Credit Acceptance Auto Loan Trust 2021-31.000% 05/15/20300.2%
Santander Holdings USA Inc3.500% 06/07/20240.2%
Capital One Financial Corp1.343% 12/06/20240.2%
UBS AG/London0.700% 08/09/20240.2%
Westlake Automobile Receivables Trust 2023-15.410% 01/18/20280.2%
BPCE SA5.700% 10/22/20230.2%
NRG Energy Inc3.750% 06/15/20240.2%
Great Wolf Trust 2019-WOLF6.575% 12/15/20360.2%
Pacific Gas and Electric Co3.150% 01/01/20260.2%
BA Credit Card Trust5.000% 04/15/20280.2%
Post Road Equipment Finance 2021-11.210% 02/16/20270.2%
Glencore Funding LLC4.000% 04/16/20250.2%
Bank of Montreal5.200% 12/12/20240.2%
BX Commercial Mortgage Trust 2019-IMC5.984% 04/15/20340.2%
American Express Credit Account Master Trust3.390% 05/15/20270.2%
Mitsubishi UFJ Financial Group Inc0.962% 10/11/20250.2%
Aviation Capital Group LLC1.950% 01/30/20260.2%
National Fuel Gas Co5.200% 07/15/20250.2%
Avolon Holdings Funding Ltd5.250% 05/15/20240.2%
Bain Capital Credit CLO 2018-25.878% 07/19/20310.2%
AMMC CLO 23 Ltd5.832% 10/17/20310.2%
Danske Bank A/S5.375% 01/12/20240.2%
GE HealthCare Technologies Inc5.600% 11/15/20250.2%
CARLYLE US CLO 2019-1 LTD5.888% 04/20/20310.2%
FirstEnergy Transmission LLC4.350% 01/15/20250.2%
Equitable Financial Life Global Funding1.400% 07/07/20250.2%
Aviation Capital Group LLC1.950% 09/20/20260.2%
Octagon Investment Partners 30 Ltd5.792% 03/17/20300.2%
Aviation Capital Group LLC5.500% 12/15/20240.2%
LFT CRE 2021-FL1 Ltd6.434% 06/15/20390.2%
GS Mortgage Securities Corp Trust 2018-RIVR5.634% 07/15/20350.2%
OneMain Direct Auto Receivables Trust 2019-14.190% 11/14/20280.2%
RR 3 Ltd5.920% 01/15/20300.2%
Comision Federal de Electricidad4.875% 01/15/20240.2%
Mariner Finance Issuance Trust 2022-A6.450% 10/20/20370.2%
Avolon Holdings Funding Ltd4.250% 04/15/20260.2%
Lendmark Funding Trust 2022-15.620% 07/20/20320.2%
Plains All American Pipeline LP / PAA Finance Corp3.600% 11/01/20240.2%
Avis Budget Rental Car Funding AESOP LLC4.000% 03/20/20250.2%
Pennsylvania Electric Co4.150% 04/15/20250.2%
Morgan Stanley2.188% 04/28/20260.2%
DBGS 2021-W52 Mortgage Trust6.079% 10/15/20360.2%
BX Commercial Mortgage Trust 2019-IMC5.684% 04/15/20340.2%
Freddie Mac STACR REMIC Trust 2022-DNA15.560% 01/25/20420.2%
General Motors Financial Co Inc5.806% 11/17/20230.2%
ACRES Commercial Realty 2021-FL2 Ltd6.084% 01/15/20370.2%
Santander Consumer Auto Receivables Trust 2020-B1.290% 04/15/20260.2%
GA Global Funding Trust0.800% 09/13/20240.2%
Warnermedia Holdings Inc3.638% 03/15/20250.2%
JP Morgan Chase Commercial Mortgage Securities Trust 2021-14406.434% 03/15/20360.2%
Ready Capital Mortgage Financing 2021-FL6 LLC5.795% 07/25/20360.2%
Southern Co/The2.700% 08/01/20240.2%
Amur Equipment Finance Receivables IX LLC2.300% 11/22/20270.2%
Flagship Credit Auto Trust 2022-46.320% 06/15/20270.2%
Kite Realty Group Trust4.000% 03/15/20250.2%
LoanCore 2019-CRE2 Issuer Ltd6.684% 05/15/20360.2%
General Motors Financial Co Inc5.148% 10/15/20240.2%
OneMain Financial Issuance Trust 2020-22.760% 09/14/20350.2%
NatWest Group PLC6.684% 06/25/20240.2%
Newday Funding Master Issuer PLC - Series 2021-15.710% 03/15/20290.2%
DCP Midstream Operating LP5.375% 07/15/20250.2%
Imperial Brands Finance PLC3.125% 07/26/20240.2%
Discover Card Execution Note Trust5.030% 10/15/20270.2%
Continental Finance Credit Card ABS Master Trust2.240% 12/15/20280.2%
HSBC Holdings PLC3.803% 03/11/20250.2%
OneMain Direct Auto Receivables Trust 2019-13.630% 09/14/20270.2%
Jackson National Life Global Funding5.970% 06/28/20240.2%
Freddie Mac STACR REMIC Trust 2021-HQA45.510% 12/25/20410.2%
Suncor Energy Inc7.875% 06/15/20260.2%
Arbor Realty Commercial Real Estate Notes 2021-FL4 Ltd6.034% 11/15/20360.2%
LoanCore 2022-CRE7 Issuer Ltd6.108% 01/17/20370.2%
Hertz Vehicle Financing III LP1.680% 12/27/20270.2%
Amgen Inc5.150% 03/02/20280.2%
BPCE SA4.500% 03/15/20250.2%
Great Wolf Trust 2019-WOLF5.976% 12/15/20360.2%
Amgen Inc5.507% 03/02/20260.2%
BHMS 2018-ATLS6.934% 07/15/20350.1%
Devon Energy Corp8.250% 08/01/20230.1%
GLS Auto Receivables Issuer Trust 2021-11.200% 01/15/20270.1%
Global Payments Inc2.650% 02/15/20250.1%
Pacific Gas and Electric Co3.750% 02/15/20240.1%
Stars Group Holdings BV7.409% 07/21/20260.1%
RELX Inc6.625% 10/15/20230.1%
Flagship Credit Auto Trust 2022-34.060% 10/15/20250.1%
Amgen Inc5.250% 03/02/20250.1%
Pelabuhan Indonesia Persero PT4.500% 05/02/20230.1%
Flagship Credit Auto Trust 2022-46.150% 09/15/20260.1%
Saudi Electricity Global Sukuk Co 23.473% 04/08/20230.1%
Energy Transfer LP5.875% 01/15/20240.1%
BX Commercial Mortgage Trust 2020-VKNG5.872% 10/15/20370.1%
Santander UK Group Holdings PLC4.796% 11/15/20240.1%
Barclays PLC6.252% 05/16/20240.1%
Dominion Energy Inc5.396% 09/15/20230.1%
Bank of Ireland Group PLC6.253% 09/16/20260.1%
BNP Paribas SA4.705% 01/10/20250.1%
Marvell Technology Inc4.200% 06/22/20230.1%
Skyworks Solutions Inc0.900% 06/01/20230.1%
BDS 2021-FL7 Ltd5.798% 06/16/20360.1%
Connecticut Avenue Securities Trust 2023-R016.960% 12/25/20420.1%
JPMorgan Chase & Co3.559% 04/23/20240.1%
SCF Equipment Leasing 2019-2 LLC2.760% 08/20/20260.1%
Standard Chartered PLC0.991% 01/12/20250.1%
Connecticut Avenue Securities Trust 2022-R015.560% 12/25/20410.1%
JPMorgan Chase & Co5.532% 02/24/20260.1%
Fontainebleau Miami Beach Trust 2019-FBLU3.144% 12/10/20360.1%
Newark BSL CLO 1 Ltd6.015% 12/21/20290.1%
ME Funding LLC 2019-16.448% 07/30/20490.1%
Goldman Sachs Group Inc/The3.272% 09/29/20250.1%
Illumina Inc5.750% 12/13/20270.1%
Houston Galleria Mall Trust 2015-HGLR3.087% 03/05/20370.1%
BBCMS 2018-TALL Mortgage Trust5.406% 03/15/20370.1%
BPCE SA5.150% 07/21/20240.1%
Arbor Realty Commercial Real Estate Notes 2021-FL3 Ltd5.754% 08/15/20340.1%
Greystone CRE Notes 2021-FL3 Ltd5.962% 07/15/20390.1%
GLS Auto Receivables Issuer Trust 2021-30.780% 11/17/20250.1%
HGI CRE CLO 2021-FL1 Ltd5.778% 06/16/20360.1%
Stanley Black & Decker Inc6.272% 03/06/20260.1%
Capital One Multi-Asset Execution Trust4.950% 10/15/20270.1%
Vulcan Materials Co5.800% 03/01/20260.1%
Dell Equipment Finance Trust 2021-20.940% 12/22/20260.1%
Dell Equipment Finance Trust 2021-20.810% 12/22/20260.1%
Dell Equipment Finance Trust 2021-21.210% 06/22/20270.1%
GLS Auto Receivables Issuer Trust 2021-31.110% 09/15/20260.1%
HONO 2021-LULU Mortgage Trust5.834% 10/15/20360.1%
CarMax Auto Owner Trust 2023-14.750% 10/15/20270.1%
Stanley Black & Decker Inc6.000% 03/06/20280.1%
BXHPP Trust 2021-FILM5.584% 08/15/20360.1%
Equitable Financial Life Global Funding5.450% 03/03/20280.1%
Philip Morris International Inc4.875% 02/13/20260.1%
CSMC 2021-ADV6.084% 07/15/20380.1%
Mercedes-Benz Finance North America LLC4.800% 03/30/20260.1%
Microchip Technology Inc0.972% 02/15/20240.1%
Mitsubishi UFJ Financial Group Inc4.788% 07/18/20250.1%
Verizon Master Trust5.230% 11/22/20270.1%
Centrica PLC4.000% 10/16/20230.1%
Marlette Funding Trust 2020-24.650% 09/16/20300.1%
Santander UK Group Holdings PLC6.534% 01/10/20290.1%
Dryden 53 CLO Ltd5.912% 01/15/20310.1%
GS Mortgage Securities Trust 2016-GS23.050% 05/10/20490.1%
Mountain View CLO 2017-1 LLC5.882% 10/16/20290.1%
TICP CLO XIV Ltd5.888% 10/20/20320.1%
Pagaya AI Debt Trust 2022-12.030% 10/15/20290.1%
Microchip Technology Inc2.670% 09/01/20230.1%
BPCE SA5.975% 01/18/20270.1%
World Omni Automobile Lease Securitization Trust 2022-A3.210% 02/18/20250.1%
KeyBank NA/Cleveland OH4.700% 01/26/20260.1%
ONE Gas Inc1.100% 03/11/20240.1%
Wisconsin Public Service Corp5.350% 11/10/20250.1%
Manufacturers & Traders Trust Co4.700% 01/27/20280.1%
Hyundai Capital America1.000% 09/17/20240.1%
GS Mortgage Securities Corp Trust 2019-SMP5.834% 08/15/20320.1%
BSPRT 2021-FL7 Issuer Ltd6.004% 12/15/20380.1%
American Express Co4.900% 02/13/20260.1%
Bank of Montreal4.250% 09/14/20240.1%
Navient Private Education Refi Loan Trust 2022-A2.230% 07/15/20700.1%
Nutrien Ltd5.950% 11/07/20250.1%
Public Service Enterprise Group Inc5.850% 11/15/20270.1%
Citizens Bank NA/Providence RI4.575% 08/09/20280.1%
Mitsubishi UFJ Financial Group Inc5.719% 02/20/20260.1%
NextEra Energy Capital Holdings Inc4.995% 11/03/20230.1%
Glencore Funding LLC4.125% 05/30/20230.1%
J.P. Morgan Chase Commercial Mortgage Securities Trust 2019-ICON3.884% 01/05/20340.1%
Credit Suisse AG/New York NY0.520% 08/09/20230.1%
First Investors Auto Owner Trust 2021-20.480% 03/15/20270.1%
KREF 2021-FL2 Ltd5.754% 02/15/20390.1%
Carvana Auto Receivables Trust 2020-P11.320% 11/09/20260.1%
CPS Auto Receivables Trust 2022-A0.980% 04/16/20290.1%
GLP Capital LP / GLP Financing II Inc5.250% 06/01/20250.1%
Credit Suisse Group AG3.800% 06/09/20230.1%
NextEra Energy Capital Holdings Inc6.051% 03/01/20250.1%
Bank of America Corp1.319% 06/19/20260.1%
Bank of Montreal4.985% 12/08/20230.1%
Macquarie Group Ltd5.108% 08/09/20260.1%
Atrium Hotel Portfolio Trust 2017-ATRM5.864% 12/15/20360.1%
Cleveland Electric Illuminating Co/The5.500% 08/15/20240.1%
KREF 2021-FL2 Ltd5.984% 02/15/20390.1%
New York Life Global Funding4.700% 04/02/20260.1%
GS Mortgage Securities Trust 2013-GCJ144.243% 08/10/20460.1%
Wells Fargo & Co4.540% 08/15/20260.1%
Hyundai Capital America5.500% 03/30/20260.1%
Triton Container International Ltd0.800% 08/01/20230.1%
Affirm Asset Securitization Trust 2022-X11.750% 02/15/20270.1%
BBCMS 2017-DELC Mortgage Trust5.659% 08/15/20360.1%
Marlette Funding Trust 2021-11.000% 06/16/20310.1%
Drive Auto Receivables Trust 2020-22.280% 08/17/20260.1%
GLP Capital LP / GLP Financing II Inc3.350% 09/01/20240.1%
Oracle Corp2.300% 03/25/20280.1%
OneMain Direct Auto Receivables Trust 2021-10.870% 07/14/20280.1%
Canadian Imperial Bank of Commerce3.945% 08/04/20250.1%
Regal Rexnord Corp6.050% 04/15/20280.1%
Societe Generale SA2.226% 01/21/20260.1%
Hewlett Packard Enterprise Co5.900% 10/01/20240.1%
ITC Holdings Corp4.950% 09/22/20270.1%
Jackson Financial Inc5.170% 06/08/20270.1%
Cigna Group/The5.685% 03/15/20260.1%
Aircastle Ltd5.250% 08/11/20250.1%
OneMain Financial Issuance Trust 2018-23.570% 03/14/20330.1%
Fiserv Inc5.450% 03/02/20280.1%
Irvine Core Office Trust 2013-IRV3.174% 05/15/20480.1%
CREDIT SUISSE AG/NEW YORK NY1.000% 05/05/20230.1%
SFO Commercial Mortgage Trust 2021-5555.834% 05/15/20380.1%
OneMain Direct Auto Receivables Trust 2021-11.260% 07/14/20280.1%
HSBC USA Inc5.625% 03/17/20250.1%
Jackson National Life Global Funding1.750% 01/12/20250.1%
Philip Morris International Inc5.000% 11/17/20250.1%
COMM 2015-DC1 Mortgage Trust3.078% 02/10/20480.1%
Warnermedia Holdings Inc6.412% 03/15/20260.1%
BBCMS 2018-TALL Mortgage Trust5.805% 03/15/20370.1%
Bank of Nova Scotia/The4.750% 02/02/20260.1%
Rad CLO 2 Ltd5.872% 10/15/20310.1%
Bank of New York Mellon Corp/The4.543% 02/01/20290.1%
Octane Receivables Trust 2021-10.930% 03/22/20270.1%
Avolon Holdings Funding Ltd5.125% 10/01/20230.1%
Mitsubishi UFJ Financial Group Inc5.063% 09/12/20250.1%
BNP Paribas SA5.125% 01/13/20290.1%
WFLD 2014-MONT Mortgage Trust3.755% 08/10/20310.1%
UBS Group AG4.125% 09/24/20250.1%
JPMorgan Chase & Co4.851% 07/25/20280.1%
KKR CLO 29 Ltd5.992% 01/15/20320.1%
Octane Receivables Trust 2022-14.180% 03/20/20280.1%
Magnetite Xxix Ltd5.782% 01/15/20340.1%
Hertz Vehicle Financing LLC1.210% 12/26/20250.1%
GS Mortgage Securities Corp Trust 2021-ROSS5.834% 05/15/20260.1%
BlueMountain Fuji US Clo I Ltd5.788% 07/20/20290.1%
CVS Health Corp4.300% 03/25/20280.1%
Huntington National Bank/The4.008% 05/16/20250.1%
CARLYLE US CLO 2017-3 Ltd5.708% 07/20/20290.1%
Citizens Bank NA/Providence RI6.064% 10/24/20250.1%
Octagon Investment Partners XIV Ltd5.742% 07/15/20290.1%
Madison Park Funding XI Ltd5.715% 07/23/20290.1%
Triton Container International Ltd1.150% 06/07/20240.1%
Dryden XXVI Senior Loan Fund5.692% 04/15/20290.1%
Standard Chartered PLC5.200% 01/26/20240.1%
BBCMS Mortgage Trust 2020-C72.021% 04/15/20530.1%
LMREC 2021-CRE4 LLC5.802% 04/22/20370.1%
Continental Resources Inc/OK4.500% 04/15/20230.1%
MF1 2021-FL7 Ltd5.808% 10/16/20360.1%
Humana Inc5.700% 03/13/20260.1%
Truist Financial Corp4.260% 07/28/20260.1%
Aircastle Ltd4.400% 09/25/20230.1%
Mercedes-Benz Finance North America LLC4.950% 03/30/20250.1%
Citigroup Inc4.140% 05/24/20250.1%
EQT Corp5.678% 10/01/20250.1%
JPMorgan Chase & Co3.845% 06/14/20250.1%
JPMorgan Chase & Co2.301% 10/15/20250.1%
Regatta Funding LP 2013-2A5.642% 01/15/20290.1%
GS Mortgage Securities Trust 2015-GC343.506% 10/10/20480.1%
Citigroup Commercial Mortgage Trust 2016-GC373.314% 04/10/20490.1%
BAMLL Commercial Mortgage Securities Trust 2013-WBRK3.534% 03/10/20370.1%
Crown Castle Inc5.000% 01/11/20280.1%
Hyatt Hotels Corp1.800% 10/01/20240.1%
Airport Authority4.875% 01/12/20260.1%
J.P. Morgan Chase Commercial Mortgage Securities Trust 2018-AON4.128% 07/05/20310.1%
Citigroup Inc4.044% 06/01/20240.1%
Danske Bank A/S6.466% 01/09/20260.1%
Macquarie Group Ltd1.340% 01/12/20270.1%
NatWest Group PLC5.847% 03/02/20270.1%
LCM XXII Ltd5.968% 10/20/20280.1%
Benchmark 2021-B23 Mortgage Trust1.620% 02/15/20540.1%
Bank of America Corp1.734% 07/22/20270.1%
Lowe's Cos Inc4.800% 04/01/20260.1%
BPCE SA4.875% 04/01/20260.1%
Viterra Finance BV4.900% 04/21/20270.1%
Nordea Bank Abp3.600% 06/06/20250.1%
PVH Corp7.750% 11/15/20230.1%
Navient Private Education Refi Loan Trust 2020-F1.220% 07/15/20690.1%
Aircastle Ltd5.000% 04/01/20230.1%
Standard Chartered PLC1.214% 03/23/20250.1%
WAIKIKI BEACH HOTEL TRUST 2019-WBM6.714% 12/15/20330.1%
Aqua Finance Trust 2021-A1.540% 07/17/20460.1%
GS Mortgage Securities Corp Trust 2019-SMP6.184% 08/15/20320.0%
Pioneer Natural Resources Co5.100% 03/29/20260.0%
Arrow Electronics Inc6.125% 03/01/20260.0%
COMM 2012-CCRE1 Mortgage Trust4.612% 05/15/20450.0%
Illumina Inc5.800% 12/12/20250.0%
Morgan Stanley6.138% 10/16/20260.0%
General Motors Financial Co Inc3.700% 05/09/20230.0%
Galaxy XIX CLO Ltd5.766% 07/24/20300.0%
Warnermedia Holdings Inc3.788% 03/15/20250.0%
Elevance Health Inc4.900% 02/08/20260.0%
Mercedes-Benz Finance North America LLC5.500% 11/27/20240.0%
Truist Financial Corp4.873% 01/26/20290.0%
Daimler Truck Finance North America LLC5.150% 01/16/20260.0%
Goldman Sachs Group Inc/The2.640% 02/24/20280.0%
BDS 2020-FL5 LTD5.924% 02/16/20370.0%
Williams Cos Inc/The5.400% 03/02/20260.0%
Upstart Securitization Trust 2021-20.910% 06/20/20310.0%
Duke Energy Corp2.650% 09/01/20260.0%
HPLY Trust 2019-HIT5.684% 11/15/20360.0%
Warnermedia Holdings Inc6.445% 03/15/20240.0%
WFRBS Commercial Mortgage Trust 2014-C203.995% 05/15/20470.0%
Centene Corp2.450% 07/15/20280.0%
Intel Corp4.875% 02/10/20260.0%
Intel Corp4.875% 02/10/20280.0%
MVW Owner Trust 2017-12.420% 12/20/20340.0%
Bank of America Corp2.456% 10/22/20250.0%
Carmax Auto Owner Trust 2020-12.640% 07/15/20260.0%
American Electric Power Co Inc5.750% 11/01/20270.0%
Bank of America Corp1.530% 12/06/20250.0%
COMM 2014-UBS3 Mortgage Trust3.819% 06/10/20470.0%
HGI CRE CLO 2021-FL1 Ltd6.128% 06/16/20360.0%
HGI CRE CLO 2021-FL1 Ltd6.328% 06/16/20360.0%
Citigroup Commercial Mortgage Trust 2016-GC363.616% 02/10/20490.0%
WFRBS Commercial Mortgage Trust 2014-C194.101% 03/15/20470.0%
Verus Securitization Trust 2020-51.218% 05/25/20650.0%
State of Illinois4.950% 06/01/20230.0%
MSBAM Commercial Mortgage Securities Trust 2012-CKSV3.277% 10/15/20300.0%
NextEra Energy Capital Holdings Inc4.200% 06/20/20240.0%
CSMC 2020-NQM1 Trust1.208% 05/25/20650.0%
Angel Oak Mortgage Trust 2020-61.261% 05/25/20650.0%
Pagaya AI Debt Selection Trust 2021-11.180% 11/15/20270.0%
Oracle Corp2.500% 04/01/20250.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN5.954% 11/15/20350.0%
Cantor Commercial Real Estate Lending 2019-CF14.411% 05/15/20520.0%
Verus Securitization Trust 2020-41.502% 05/25/20650.0%
Wells Fargo Commercial Mortgage Trust 2015-C263.580% 02/15/20480.0%
GCAT 2020-NQM2 Trust1.555% 04/25/20650.0%
Natixis Commercial Mortgage Securities Trust 2018-285M3.790% 11/15/20320.0%
Vista Point Securitization Trust 2020-21.475% 04/25/20650.0%
HMH Trust 2017-NSS3.787% 07/05/20310.0%
Verus Securitization Trust 2020-INV11.977% 03/25/20600.0%
Ellington Financial Mortgage Trust 2020-12.006% 05/25/20650.0%
MSCG Trust 2015-ALDR2.612% 06/07/20350.0%
COMM 2014-UBS6 Mortgage Trust3.644% 12/10/20470.0%
Towd Point Asset Trust 2018-SL15.445% 01/25/20460.0%
CPI Swap0.010% 10/04/20230.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN6.284% 11/15/20350.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN6.634% 11/15/20350.0%
UBS-Barclays Commercial Mortgage Trust 2013-C63.244% 04/10/20460.0%
CPI Swap0.010% 04/15/20240.0%
Government National Mortgage Association3.000% 01/16/20480.0%
Citigroup Commercial Mortgage Trust 2018-B23.788% 03/10/20510.0%
Citigroup Commercial Mortgage Trust 2015-GC272.944% 02/10/20480.0%
CPI Swap0.010% 03/24/20240.0%
CPI Swap0.010% 03/27/20250.0%
BAXTER INTL INC0.000% 09/30/20240.0%
US 5YR NOTE (CBT) Jun230.000% 07/06/2023-0.1%

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

For
YTD Dividends Paidas of 05/26/2023
$0.12481
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 04/30/2023 $0.03287 $9.18
Daily Daily 03/31/2023 $0.03203 $9.17
Daily Daily 02/28/2023 $0.02995 $9.11
Daily Daily 01/31/2023 $0.02996 $9.19

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 05/31/2023
Daily Daily 06/30/2023
Daily Daily 07/31/2023
Daily Daily 08/31/2023
Daily Daily 09/30/2023
Daily Daily 10/31/2023
Daily Daily 11/30/2023
Daily Daily 12/31/2023

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 04/30/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
1.09% 0.90%

Expense ratio details, Click here.

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
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Publish Date:11/03/2015
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Publish Date:11/03/2015
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*"Barron's Best Fund Families of 2021", #4 ranking in the Taxable 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 #2 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.

+

Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

12-Month Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to its value with maximum sales charges and without sales charges. The fund’s dividend yield is calculated by dividing the fund’s income distributions over the previous year by the fund’s current value with maximum sales charges and without sales charges.

 

2

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

3

The Fund’s Dividend Yield, 12-Month Dividend Yield and 7 Day Yield are shown with and without sales charges and with maximum sales charges. The Fund’s Subsidized Dividend yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s dividend yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

 

4

The Fund’s Unsubsidized Dividend yield is shown without sales charges and with maximum sales charges. The Fund’s unsubsidized dividend yield reflects what the yield would have been without the effect of fee waivers or expense limitation arrangements.

 

 

IMPORTANT INFORMATION

 

New Fund Risk: The Fund is newly organized. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investment strategy. Diversification does not guarantee a profit or protect against loss in declining markets.

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The value of an investment will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt securities tend to rise, and when interest rates rise, the prices of debt securities are likely to decline. Debt securities are subject to credit risk, which is the risk that the issuer will fail to make timely payments of interest and principal to the Fund. The Fund may invest in high yield, lower-rated debt securities, sometimes called junk bonds and may involve greater risks than higher rated debt securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance. Past performance is no guarantee of future results.

 

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

 

 

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

 

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 U.S. 1 to 3 Year Government/Credit Index is an unmanaged index that is designed to represent a combination of the Government Bond Index and the Corporate Bond Index, and includes U.S. government Treasury and agency securities, corporate bonds, and Yankee bonds with maturities of 1 to 3 years.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

 

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

 

 

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

 

Select funds to run a Morningstar Hypothetical Report.

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