LDCAX | Short Duration Core Bond Fund Class A | Lord Abbett

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Short Duration Core Bond Fund

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Daily price w/o sales charge as of 12/01/2023

$9.13

arrowUp$0.03

YTD Returns w/o sales charge as of 12/01/2023

4.54%

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

Average Yield to Maturity as of 10/31/2023

6.55%

30-Day Standardized Yield 1 as of 10/31/2023  

  Subsidized2 Un-Subsidized3
w/o sales charge 5.33% 5.15%

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

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

Fund Basicsas of 10/31/2023

Total Net Assets
$407.01 M
Inception Date
04/20/2017
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.79%
Fund Net Expense Ratio
0.60%
Number of Holdings
507
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 0.79%

Net 0.60%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/19/2017
w/o sales charge 4.18% 4.54% 0.23% 1.58% - 1.46%
Lipper Category Avg. Short Investment Grade Debt Funds - - - - - -
Bloomberg 1-3 Year US Government/Credit Bond Index 3.38% 3.57% -0.27% 1.43% - 1.23%
w/ sales charge 1.84% 2.18% -0.53% 1.12% - 1.11%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.79%

Net 0.60%

Fund Expense Ratio :

Gross 0.79%

Net 0.60%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/19/2017
w/o sales charge 2.63% 3.83% -0.14% 1.33% - 1.26%
Lipper Category Avg. Short Investment Grade Debt Funds 2.72% 3.98% -0.15% 1.35% - -
Bloomberg 1-3 Year US Government/Credit Bond Index 1.87% 2.77% -0.72% 1.21% - 1.03%
w/ sales charge 0.32% 1.49% -0.90% 0.87% - 0.90%

Fund Expense Ratio :

Gross 0.79%

Net 0.60%

Type Assets
Investment Grade Corporate
ABS
CLO
Bank Loans
CMBS
U.S. Government Related
MBS
Sovereign
High Yield Corporate
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 10/31/2023 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

Average Yield to Maturity as of 10/31/2023

6.55%

30-Day Standardized Yield 1 as of 10/31/2023  

  Subsidized2 Un-Subsidized3
w/o sales charge 5.33% 5.15%

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

Fund Expense Ratio :

Gross 0.79%

Net 0.60%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/19/2017
w/o sales charge 4.18% 4.54% 0.23% 1.58% - 1.46%
Lipper Category Avg. Short Investment Grade Debt Funds - - - - - -
Bloomberg 1-3 Year US Government/Credit Bond Index 3.38% 3.57% -0.27% 1.43% - 1.23%
w/ sales charge 1.84% 2.18% -0.53% 1.12% - 1.11%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.79%

Net 0.60%

Fund Expense Ratio :

Gross 0.79%

Net 0.60%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/19/2017
w/o sales charge 2.63% 3.83% -0.14% 1.33% - 1.26%
Lipper Category Avg. Short Investment Grade Debt Funds 2.72% 3.98% -0.15% 1.35% - -
Bloomberg 1-3 Year US Government/Credit Bond Index 1.87% 2.77% -0.72% 1.21% - 1.03%
w/ sales charge 0.32% 1.49% -0.90% 0.87% - 0.90%

Fund Expense Ratio :

Gross 0.79%

Net 0.60%

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 -3.78% -3.69%
2021 0.07% -0.47%
2020 2.54% 3.33%
2019 4.66% 4.03%
2018 1.50% 1.60%
2017 0.72% 0.84%
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 1.75% -0.14% 1.01% - 4.54%
2022 -2.40% -1.39% -1.18% 1.17% -3.78%
2021 0.02% 0.29% 0.11% -0.35% 0.07%
2020 -3.09% 4.06% 0.91% 0.77% 2.54%
2019 1.68% 1.43% 0.82% 0.67% 4.66%
2018 -0.12% 0.37% 0.52% 0.72% 1.50%
2017 - - 0.41% 0.05% 0.72%

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

GROWTH OF $10,000 as of 10/31/2023

The chart begins on the Fund's inception date of 04/19/2017.

Based on a hypothetical Class A share investment of $10,000 on 04/19/2017 without sales charge and includes the reinvestment of all distributions.

 

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
Investment Grade Corporate
ABS
CLO
Bank Loans
CMBS
U.S. Government Related
MBS
Sovereign
High Yield Corporate
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 10/31/2023

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 10/31/2023

Total Net Assets
$407.01 M
Average Effective Duration
1.82 Years
Average Life
1.73 Years
Number of Issues
507
Average Yield to Maturity
6.55%

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

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

Holding Coupon Maturity Assets
BNP Paribas SA 2.219% 06/09/2026 1.0%
United States Treasury Note/Bond 4.375% 08/15/2026 1.0%
Development Bank of Japan Inc 1.250% 10/20/2026 0.9%
Bank of America Corp 3.384% 04/02/2026 0.9%
AIB Group PLC 4.263% 04/10/2025 0.9%
International Flavors & Fragrances Inc 1.230% 10/01/2025 0.8%
Hilton Worldwide Finance LLC 7.174% 06/22/2026 0.7%
Danske Bank A/S 6.466% 01/09/2026 0.7%
Charter Communications Operating LLC 7.074% 04/30/2025 0.7%
BIOGEN INC 6.662% 08/26/2024 0.7%
% of Total Assets 8.3%
Holding Coupon Maturity Assets
BNP Paribas SA2.219% 06/09/20261.0%
United States Treasury Note/Bond4.375% 08/15/20261.0%
Development Bank of Japan Inc1.250% 10/20/20260.9%
Bank of America Corp3.384% 04/02/20260.9%
BARCLAYS CAPITAL0.010% 11/01/20230.9%
AIB Group PLC4.263% 04/10/20250.9%
International Flavors & Fragrances Inc1.230% 10/01/20250.8%
Hilton Worldwide Finance LLC7.174% 06/22/20260.7%
Danske Bank A/S6.466% 01/09/20260.7%
Charter Communications Operating LLC7.074% 04/30/20250.7%
BIOGEN INC6.662% 08/26/20240.7%
Wells Fargo & Co2.164% 02/11/20260.6%
Southern Co/The2.700% 08/01/20240.6%
Wells Fargo & Co4.540% 08/15/20260.6%
AES Corp/The3.300% 07/15/20250.6%
Jersey Central Power & Light Co4.700% 04/01/20240.5%
UBS Group AG5.711% 01/12/20270.5%
United States Treasury Inflation Indexed Bonds0.250% 01/15/20250.5%
PDC Energy Inc5.750% 05/15/20260.5%
CenterPoint Energy Inc5.987% 05/13/20240.5%
Weir Group PLC/The2.200% 05/13/20260.5%
T-Mobile USA Inc2.625% 04/15/20260.5%
System Energy Resources Inc6.000% 04/15/20280.5%
Continental Resources Inc/OK2.268% 11/15/20260.5%
Citizens Auto Receivables Trust 2023-25.830% 02/15/20280.5%
NatWest Group PLC4.269% 03/22/20250.5%
Brighthouse Financial Global Funding6.073% 04/12/20240.5%
Bayer US Finance II LLC3.875% 12/15/20230.5%
Cleco Corporate Holdings LLC3.743% 05/01/20260.5%
Toronto-Dominion Bank/The5.677% 09/10/20240.5%
Air Lease Corp4.250% 02/01/20240.5%
Royal Bank of Canada5.656% 10/07/20240.5%
CARLYLE US CLO 2019-1 LTD6.757% 04/20/20310.5%
CommonSpirit Health0.000% 12/14/20230.5%
First-Citizens Bank & Trust Co2.969% 09/27/20250.5%
GA Global Funding Trust3.850% 04/11/20250.5%
Danske Bank A/S3.244% 12/20/20250.5%
Westlake Automobile Receivables Trust 2023-35.960% 10/15/20260.5%
Santander Drive Auto Receivables Trust 2023-46.180% 02/16/20270.5%
PenFed Auto Receivables Owner Trust 2022-A3.960% 04/15/20260.5%
Bayer Corp0.000% 07/09/20240.5%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust1.750% 10/29/20240.5%
Stars Group Holdings BV7.902% 07/21/20260.5%
GM Financial Automobile Leasing Trust 2023-35.380% 11/20/20260.5%
Affirm Asset Securitization Trust 2022-A4.300% 05/17/20270.5%
Jackson National Life Global Funding5.500% 01/09/20260.5%
HCA Inc6.799% 06/30/20260.4%
TD SYNNEX Corp1.250% 08/09/20240.4%
Alexander Funding Trust1.841% 11/15/20230.4%
Boeing Co/The1.433% 02/04/20240.4%
Macquarie Group Ltd6.207% 11/22/20240.4%
United Airlines 2020-1 Class A Pass Through Trust5.875% 04/15/20290.4%
Hyundai Capital America6.489% 08/04/20250.4%
UBS Group AG4.488% 05/12/20260.4%
Glencore Funding LLC4.625% 04/29/20240.4%
Swedbank AB6.706% 06/15/20260.4%
BMW Vehicle Lease Trust 2023-25.990% 09/25/20260.4%
Viterra Finance BV2.000% 04/21/20260.4%
Centene Corp4.250% 12/15/20270.4%
OCP CLO 2020-18 Ltd6.767% 07/20/20320.4%
American Tower Corp3.650% 03/15/20270.4%
Svenska Handelsbanken AB2.347% 06/15/20260.4%
Hyundai Capital America5.950% 09/21/20260.4%
VICI Properties LP / VICI Note Co Inc3.500% 02/15/20250.4%
Synchrony Card Funding LLC5.540% 07/15/20290.4%
Occidental Petroleum Corp6.375% 09/01/20280.4%
Octagon Loan Funding Ltd6.821% 11/18/20310.4%
NiSource Inc5.250% 03/30/20280.4%
Barclays PLC6.496% 09/13/20270.4%
Elmwood CLO 18 Ltd7.053% 07/17/20330.4%
JPMorgan Chase & Co3.782% 02/01/20280.4%
Dryden 113 CLO Ltd7.046% 10/20/20350.4%
Ford Credit Auto Lease Trust 2023-A4.940% 03/15/20260.4%
Santander Drive Auto Receivables Trust 2022-64.720% 06/15/20270.4%
Invitation Homes Operating Partnership LP6.424% 01/31/20250.4%
Devon Energy Corp5.250% 10/15/20270.4%
UniCredit SpA7.830% 12/04/20230.4%
Credit Suisse AG/New York NY1.495% 02/02/20240.4%
Nissan Motor Acceptance Co LLC1.125% 09/16/20240.4%
Citigroup Inc5.610% 09/29/20260.3%
CarMax Auto Owner Trust 2023-15.190% 01/16/20290.3%
Flagship Credit Auto Trust 2022-34.550% 04/15/20270.3%
Continental Resources Inc/OK3.800% 06/01/20240.3%
Capital One Financial Corp6.019% 12/06/20240.3%
Bank of America Corp1.197% 10/24/20260.3%
Veralto Corp5.500% 09/18/20260.3%
Occidental Petroleum Corp5.875% 09/01/20250.3%
F&G Global Funding5.150% 07/07/20250.3%
VICI Properties LP / VICI Note Co Inc4.625% 06/15/20250.3%
HSBC Holdings PLC3.803% 03/11/20250.3%
Hexcel Corp4.950% 08/15/20250.3%
Rad CLO 6 Ltd7.057% 01/20/20330.3%
East Ohio Gas Co/The1.300% 06/15/20250.3%
Ovintiv Inc5.375% 01/01/20260.3%
ITC Holdings Corp3.650% 06/15/20240.3%
Standard Chartered PLC5.200% 01/26/20240.3%
SCF Equipment Leasing 2021-1 LLC1.370% 08/20/20290.3%
Affirm Asset Securitization Trust 2023-A6.610% 01/18/20280.3%
F&G Global Funding0.900% 09/20/20240.3%
Madison Park Funding LIX Ltd6.797% 01/18/20340.3%
Westlake Automobile Receivables Trust 2023-15.210% 01/18/20280.3%
Daimler Truck Finance North America LLC5.600% 08/08/20250.3%
Metropolitan Life Global Funding I0.400% 01/07/20240.3%
Pfizer Investment Enterprises Pte Ltd4.450% 05/19/20260.3%
Reynolds American Inc4.450% 06/12/20250.3%
Imperial Brands Finance PLC3.500% 07/26/20260.3%
Viper Energy Partners LP5.375% 11/01/20270.3%
Prestige Auto Receivables Trust 2022-16.550% 07/17/20280.3%
Capital One Multi-Asset Execution Trust6.205% 05/15/20280.3%
BNP Paribas SA4.705% 01/10/20250.3%
Royal Bank of Canada4.875% 01/12/20260.3%
Avangrid Inc3.200% 04/15/20250.3%
TARGA RESOURCES CORP6.700% 07/11/20250.3%
Madison Park Funding XLVIII Ltd6.808% 04/19/20330.3%
Phillips 66 Co3.550% 10/01/20260.3%
Huntington Ingalls Industries Inc3.844% 05/01/20250.3%
Manufacturers & Traders Trust Co4.650% 01/27/20260.3%
Master Credit Card Trust0.790% 11/21/20250.3%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust4.875% 01/16/20240.3%
Enbridge Inc5.965% 02/16/20240.3%
CarMax Auto Owner Trust 2023-46.000% 07/17/20280.3%
Aviation Capital Group LLC5.500% 12/15/20240.3%
Avolon Holdings Funding Ltd5.500% 01/15/20260.3%
UBS AG5.125% 05/15/20240.3%
Santander Consumer Auto Receivables Trust 2020-B2.140% 12/15/20260.3%
Avolon Holdings Funding Ltd5.250% 05/15/20240.3%
Protective Life Global Funding5.366% 01/06/20260.3%
Dell Equipment Finance Trust 2023-25.840% 01/22/20290.3%
Citigroup Inc3.352% 04/24/20250.3%
Hyundai Capital America5.800% 06/26/20250.3%
LPL Holdings Inc4.625% 11/15/20270.3%
Delos Aircraft Leasing DAC7.402% 10/31/20270.3%
Santander Drive Auto Receivables Trust 2022-54.430% 03/15/20270.3%
Amazon.com Inc4.550% 12/01/20270.3%
CNO Global Funding1.650% 01/06/20250.3%
BAXTER INTL INC0.066% 09/30/20240.3%
Radian Group Inc4.500% 10/01/20240.3%
Standard Chartered PLC3.785% 05/21/20250.3%
GA Global Funding Trust0.800% 09/13/20240.3%
Regal Rexnord Corp6.050% 02/15/20260.3%
Octane Receivables Trust 2022-25.850% 07/20/20280.3%
Santander UK Group Holdings PLC4.796% 11/15/20240.3%
Romark CLO Ltd6.704% 10/23/20300.2%
Capital One Financial Corp4.166% 05/09/20250.2%
Warnermedia Holdings Inc3.638% 03/15/20250.2%
NatWest Group PLC5.847% 03/02/20270.2%
Octagon Investment Partners XXI Ltd6.631% 02/14/20310.2%
Penske Truck Leasing Co Lp / PTL Finance Corp6.050% 08/01/20280.2%
Fidelity & Guaranty Life Holdings Inc5.500% 05/01/20250.2%
Manufacturers & Traders Trust Co5.400% 11/21/20250.2%
GM Financial Automobile Leasing Trust 2023-25.540% 05/20/20270.2%
SBNA Auto Lease Trust 2023-A6.510% 04/20/20270.2%
Wells Fargo Bank NA5.550% 08/01/20250.2%
Dominion Energy Inc0.000% 08/15/20240.2%
Barclays PLC2.852% 05/07/20260.2%
Arbor Realty Commercial Real Estate Notes 2022-FL1 Ltd6.770% 01/15/20370.2%
AT&T Inc5.539% 02/20/20260.2%
Toronto-Dominion Bank/The4.693% 09/15/20270.2%
American Express Co6.338% 10/30/20260.2%
EQT Corp6.125% 02/01/20250.2%
American Tower Corp1.600% 04/15/20260.2%
Qorvo Inc1.750% 12/15/20240.2%
ME Funding LLC 2019-16.448% 07/30/20490.2%
Metropolitan Life Global Funding I4.050% 08/25/20250.2%
Valley Stream Park CLO LTD7.046% 10/20/20340.2%
IQVIA Inc6.674% 06/16/20270.2%
Netflix Inc4.875% 04/15/20280.2%
Madison Park Funding XIII Ltd6.608% 04/19/20300.2%
Flagship Credit Auto Trust 2023-15.010% 08/16/20270.2%
GLS Auto Receivables Issuer Trust 2023-36.040% 03/15/20270.2%
CIFC Funding 2013-II Ltd6.657% 10/18/20300.2%
Seminole Tribe of Florida Inc6.474% 05/13/20270.2%
SMRT 2022-MINI6.335% 01/15/20390.2%
OCP CLO 2014-5 Ltd6.721% 04/26/20310.2%
Carlyle Global Market Strategies CLO 2014-2R Ltd6.676% 05/15/20310.2%
Citigroup Inc3.887% 01/10/20280.2%
Mutual of Omaha Cos Global Funding5.800% 07/27/20260.2%
Carmax Auto Owner Trust 2023-35.280% 05/15/20280.2%
BHMS 2018-ATLS6.882% 07/15/20350.2%
Carlyle Global Market Strategies CLO 2015-1 Ltd6.657% 07/20/20310.2%
Truist Financial Corp5.310% 06/09/20250.2%
Wells Fargo & Co2.188% 04/30/20260.2%
Netflix Inc4.375% 11/15/20260.2%
Bank of Ireland Group PLC4.500% 11/25/20230.2%
GM Financial Automobile Leasing Trust 2023-25.050% 07/20/20260.2%
National Fuel Gas Co5.500% 01/15/20260.2%
Southwest Gas Corp5.800% 12/01/20270.2%
Open Text Corp7.174% 05/30/20250.2%
Vistra Operations Co LLC3.550% 07/15/20240.2%
Barclays PLC7.325% 11/02/20260.2%
Eversource Energy4.750% 05/15/20260.2%
Puget Energy Inc3.650% 05/15/20250.2%
Australia & New Zealand Banking Group Ltd4.400% 05/19/20260.2%
BAT Capital Corp2.789% 09/06/20240.2%
HSBC Holdings PLC4.292% 09/12/20260.2%
Danske Bank A/S3.773% 03/28/20250.2%
Pennsylvania Electric Co5.150% 03/30/20260.2%
Voya Clo 2017-4 Ltd6.785% 10/15/20300.2%
Philip Morris International Inc5.125% 11/15/20240.2%
Post Road Equipment Finance 2022-14.880% 11/15/20280.2%
Evergy Missouri West Inc5.150% 12/15/20270.2%
Goldman Sachs Group Inc/The6.007% 01/24/20250.2%
Nuveen Finance LLC4.125% 11/01/20240.2%
Fells Point Funding Trust3.046% 01/31/20270.2%
Freddie Mac Structured Agency Credit Risk Debt Notes7.421% 04/25/20430.2%
GE HealthCare Technologies Inc5.550% 11/15/20240.2%
Avolon Holdings Funding Ltd2.875% 02/15/20250.2%
UBS AG/London0.700% 08/09/20240.2%
Carmax Auto Owner Trust 2023-35.720% 11/16/20260.2%
Capital One Financial Corp1.343% 12/06/20240.2%
KFC Holding Co7.199% 03/15/20280.2%
ING Groep NV6.083% 09/11/20270.2%
Santander Holdings USA Inc3.500% 06/07/20240.2%
Pacific Gas and Electric Co3.250% 02/16/20240.2%
NRG Energy Inc3.750% 06/15/20240.2%
Rockford Tower CLO 2018-1 Ltd6.741% 05/20/20310.2%
Mitsubishi UFJ Financial Group Inc0.962% 10/11/20250.2%
Jacobs Engineering Group Inc6.350% 08/18/20280.2%
Pacific Gas and Electric Co3.150% 01/01/20260.2%
Aviation Capital Group LLC1.950% 01/30/20260.2%
Bank of Montreal5.200% 12/12/20240.2%
Morgan Stanley4.210% 04/20/20280.2%
American Express Credit Account Master Trust3.390% 05/15/20270.2%
BA Credit Card Trust5.000% 04/15/20280.2%
Danske Bank A/S5.375% 01/12/20240.2%
Glencore Funding LLC4.000% 04/16/20250.2%
AMMC CLO 23 Ltd6.704% 10/17/20310.2%
National Fuel Gas Co5.200% 07/15/20250.2%
Aviation Capital Group LLC1.950% 09/20/20260.2%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.500% 03/15/20270.2%
Equitable Financial Life Global Funding1.400% 07/07/20250.2%
Santander Drive Auto Receivables Trust 2023-36.080% 08/17/20260.2%
Fifth Third Bancorp6.339% 07/27/20290.2%
FirstEnergy Transmission LLC4.350% 01/15/20250.2%
American Express Co4.990% 05/01/20260.2%
Bain Capital Credit CLO 2018-26.738% 07/19/20310.2%
OneMain Direct Auto Receivables Trust 2019-14.190% 11/14/20280.2%
LFT CRE 2021-FL1 Ltd7.199% 06/15/20390.2%
Plains All American Pipeline LP / PAA Finance Corp3.600% 11/01/20240.2%
Mariner Finance Issuance Trust 2022-A6.450% 10/20/20370.2%
Volkswagen Group of America Finance LLC5.800% 09/12/20250.2%
OCP Clo 2019-17 Ltd6.717% 07/20/20320.2%
BX Commercial Mortgage Trust 2019-IMC6.381% 04/15/20340.2%
NUTRITION BIOSCIENCES INC0.070% 02/01/20240.2%
Avolon Holdings Funding Ltd4.250% 04/15/20260.2%
Morgan Stanley2.188% 04/28/20260.2%
General Motors Financial Co Inc6.535% 11/17/20230.2%
SCF Equipment Leasing 2020-1 LLC2.020% 03/20/20280.2%
Freddie Mac STACR REMIC Trust 2022-DNA16.321% 01/25/20420.2%
Pennsylvania Electric Co4.150% 04/15/20250.2%
Dell International LLC / EMC Corp6.020% 06/15/20260.2%
Octagon Investment Partners 30 Ltd6.664% 03/17/20300.2%
Connecticut Avenue Securities Trust 2023-R037.821% 04/25/20430.2%
Toronto-Dominion Bank/The5.532% 07/17/20260.2%
Amur Equipment Finance Receivables IX LLC2.300% 11/22/20270.2%
GE HealthCare Technologies Inc5.600% 11/15/20250.2%
JPMorgan Chase & Co2.301% 10/15/20250.2%
Santander Consumer Auto Receivables Trust 2020-B1.290% 04/15/20260.2%
Kite Realty Group Trust4.000% 03/15/20250.2%
Aircastle Ltd4.125% 05/01/20240.2%
Lloyds Banking Group PLC3.870% 07/09/20250.2%
Avid Automobile Receivables Trust 2021-11.550% 05/15/20260.1%
Flagship Credit Auto Trust 2022-46.320% 06/15/20270.1%
LoanCore 2019-CRE2 Issuer Ltd7.449% 05/15/20360.1%
General Motors Financial Co Inc5.932% 10/15/20240.1%
Centene Corp2.450% 07/15/20280.1%
Newday Funding Master Issuer PLC - Series 2021-16.411% 03/15/20290.1%
Wells Fargo & Co5.574% 07/25/20290.1%
OneMain Financial Issuance Trust 2020-22.760% 09/14/20350.1%
Aircastle Ltd5.250% 08/11/20250.1%
Imperial Brands Finance PLC3.125% 07/26/20240.1%
Continental Finance Credit Card ABS Master Trust2.240% 12/15/20280.1%
DCP Midstream Operating LP5.375% 07/15/20250.1%
Barclays PLC5.829% 05/09/20270.1%
Elmwood CLO VII Ltd7.033% 01/17/20340.1%
Avis Budget Rental Car Funding AESOP LLC4.000% 03/20/20250.1%
JP Morgan Chase Commercial Mortgage Securities Trust 2021-14407.199% 03/15/20360.1%
Canadian Imperial Bank of Commerce5.144% 04/28/20250.1%
OneMain Direct Auto Receivables Trust 2019-13.630% 09/14/20270.1%
Jackson National Life Global Funding6.460% 06/28/20240.1%
RR 3 Ltd6.745% 01/15/20300.1%
Discover Card Execution Note Trust5.030% 10/15/20270.1%
LoanCore 2022-CRE7 Issuer Ltd6.871% 01/17/20370.1%
Great Wolf Trust 2019-WOLF6.483% 12/15/20360.1%
Hertz Vehicle Financing III LP1.680% 12/27/20270.1%
BPCE SA4.500% 03/15/20250.1%
Royal Bank of Canada5.200% 07/20/20260.1%
Volkswagen Group of America Finance LLC5.700% 09/12/20260.1%
US Bancorp6.787% 10/26/20270.1%
Suncor Energy Inc7.875% 06/15/20260.1%
Global Payments Inc2.650% 02/15/20250.1%
DTE Energy Co0.000% 11/01/20240.1%
Amgen Inc5.150% 03/02/20280.1%
Pacific Gas and Electric Co3.750% 02/15/20240.1%
HSBC Holdings PLC5.887% 08/14/20270.1%
BX Commercial Mortgage Trust 2020-VKNG6.379% 10/15/20370.1%
Energy Transfer LP5.875% 01/15/20240.1%
Freddie Mac STACR REMIC Trust 2021-HQA46.271% 12/25/20410.1%
Bank of Ireland Group PLC6.253% 09/16/20260.1%
Hyundai Capital America6.250% 11/03/20250.1%
Standard Chartered PLC0.991% 01/12/20250.1%
Ready Capital Mortgage Financing 2021-FL6 LLC6.389% 07/25/20360.1%
Canadian Imperial Bank of Commerce5.615% 07/17/20260.1%
Ovintiv Inc5.650% 05/15/20250.1%
JPMorgan Chase & Co6.253% 02/24/20260.1%
Fontainebleau Miami Beach Trust 2019-FBLU3.144% 12/10/20360.1%
Charter Communications Operating LLC / Charter Communications Operating Capital4.500% 02/01/20240.1%
Credit Acceptance Auto Loan Trust 2021-31.000% 05/15/20300.1%
L3Harris Technologies Inc5.400% 01/15/20270.1%
Goldman Sachs Group Inc/The3.272% 09/29/20250.1%
Regal Rexnord Corp6.050% 04/15/20280.1%
Bank of Montreal5.300% 06/05/20260.1%
BPCE SA5.150% 07/21/20240.1%
Greystone CRE Notes 2021-FL3 Ltd6.469% 07/15/20390.1%
UBS Group AG4.125% 09/24/20250.1%
Arbor Realty Commercial Real Estate Notes 2021-FL3 Ltd6.519% 08/15/20340.1%
Dell Equipment Finance Trust 2021-20.810% 12/22/20260.1%
Dell Equipment Finance Trust 2021-20.940% 12/22/20260.1%
Dell Equipment Finance Trust 2021-21.210% 06/22/20270.1%
Connecticut Avenue Securities Trust 2023-R017.721% 12/25/20420.1%
Canadian Imperial Bank of Commerce5.001% 04/28/20280.1%
GLS Auto Receivables Issuer Trust 2021-31.110% 09/15/20260.1%
Illumina Inc5.750% 12/13/20270.1%
HONO 2021-LULU Mortgage Trust6.599% 10/15/20360.1%
Microchip Technology Inc0.972% 02/15/20240.1%
DTE Energy Co4.875% 06/01/20280.1%
CarMax Auto Owner Trust 2023-14.750% 10/15/20270.1%
Goldman Sachs Group Inc/The5.798% 08/10/20260.1%
Mitsubishi UFJ Financial Group Inc4.788% 07/18/20250.1%
CenterPoint Energy Inc5.250% 08/10/20260.1%
Connecticut Avenue Securities Trust 2022-R016.321% 12/25/20410.1%
Verizon Master Trust5.230% 11/22/20270.1%
Equitable Financial Life Global Funding5.450% 03/03/20280.1%
ONE Gas Inc1.100% 03/11/20240.1%
World Omni Automobile Lease Securitization Trust 2022-A3.210% 02/18/20250.1%
Newark BSL CLO 1 Ltd6.774% 12/21/20290.1%
Protective Life Global Funding5.209% 04/14/20260.1%
GS Mortgage Securities Trust 2016-GS23.050% 05/10/20490.1%
Santander UK Group Holdings PLC6.534% 01/10/20290.1%
BPCE SA5.975% 01/18/20270.1%
Swedbank AB6.136% 09/12/20260.1%
Hyundai Capital America1.000% 09/17/20240.1%
KeyBank NA/Cleveland OH4.700% 01/26/20260.1%
Regatta VIII Funding Ltd6.914% 10/17/20300.1%
Bank of Nova Scotia/The5.450% 06/12/20250.1%
NextEra Energy Capital Holdings Inc5.749% 09/01/20250.1%
Sumitomo Mitsui Financial Group Inc5.880% 07/13/20260.1%
Dryden 53 CLO Ltd6.775% 01/15/20310.1%
BSPRT 2021-FL7 Issuer Ltd6.769% 12/15/20380.1%
Manufacturers & Traders Trust Co4.700% 01/27/20280.1%
American Electric Power Co Inc5.699% 08/15/20250.1%
NextEra Energy Capital Holdings Inc5.740% 11/03/20230.1%
Mitsubishi UFJ Financial Group Inc5.719% 02/20/20260.1%
Carvana Auto Receivables Trust 2020-P11.320% 11/09/20260.1%
Citizens Bank NA/Providence RI4.575% 08/09/20280.1%
KREF 2021-FL2 Ltd6.519% 02/15/20390.1%
GLP Capital LP / GLP Financing II Inc5.250% 06/01/20250.1%
J.P. Morgan Chase Commercial Mortgage Securities Trust 2019-ICON3.884% 01/05/20340.1%
Bank of America Corp1.319% 06/19/20260.1%
Lloyds Banking Group PLC5.985% 08/07/20270.1%
BAT International Finance PLC5.931% 02/02/20290.1%
Macquarie Group Ltd5.108% 08/09/20260.1%
Hyundai Capital America5.500% 03/30/20260.1%
GLP Capital LP / GLP Financing II Inc3.350% 09/01/20240.1%
Public Service Enterprise Group Inc5.850% 11/15/20270.1%
OneMain Direct Auto Receivables Trust 2021-10.870% 07/14/20280.1%
HGI CRE CLO 2021-FL1 Ltd6.499% 06/16/20360.1%
Morgan Stanley5.449% 07/20/20290.1%
Navient Private Education Refi Loan Trust 2022-A2.230% 07/15/20700.1%
Conagra Brands Inc5.300% 10/01/20260.1%
Flagship Credit Auto Trust 2022-46.150% 09/15/20260.1%
PNC Financial Services Group Inc/The6.615% 10/20/20270.1%
NBN Co Ltd5.750% 10/06/20280.1%
Societe Generale SA2.226% 01/21/20260.1%
Cleveland Electric Illuminating Co/The5.500% 08/15/20240.1%
Canadian Imperial Bank of Commerce3.945% 08/04/20250.1%
Oracle Corp2.300% 03/25/20280.1%
New York Life Global Funding4.700% 04/02/20260.1%
WEC Energy Group Inc5.600% 09/12/20260.1%
ABN AMRO Bank NV6.339% 09/18/20270.1%
ITC Holdings Corp4.950% 09/22/20270.1%
Jackson Financial Inc5.170% 06/08/20270.1%
Jackson National Life Global Funding1.750% 01/12/20250.1%
HSBC USA Inc5.625% 03/17/20250.1%
OneMain Direct Auto Receivables Trust 2021-11.260% 07/14/20280.1%
Rad CLO 2 Ltd6.735% 10/15/20310.1%
Amgen Inc5.250% 03/02/20250.1%
Warnermedia Holdings Inc6.412% 03/15/20260.1%
Standard Chartered PLC6.187% 07/06/20270.1%
Bank of Montreal4.250% 09/14/20240.1%
UBS Group AG6.442% 08/11/20280.1%
AIB Group PLC6.608% 09/13/20290.1%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust6.100% 01/15/20270.1%
Bank of Nova Scotia/The4.750% 02/02/20260.1%
State Street Corp5.104% 05/18/20260.1%
Mitsubishi UFJ Financial Group Inc5.063% 09/12/20250.1%
Octane Receivables Trust 2022-25.110% 02/22/20280.1%
BNP Paribas SA2.819% 11/19/20250.1%
SCF Equipment Leasing 2019-2 LLC2.760% 08/20/20260.1%
Hyatt Hotels Corp5.750% 01/30/20270.1%
Hertz Vehicle Financing LLC1.210% 12/26/20250.1%
BNP Paribas SA5.125% 01/13/20290.1%
KKR CLO 29 Ltd6.855% 01/15/20320.1%
Magnetite Xxix Ltd6.645% 01/15/20340.1%
Huntington National Bank/The4.008% 05/16/20250.1%
Triton Container International Ltd1.150% 06/07/20240.1%
GS Mortgage Securities Corp Trust 2021-ROSS6.599% 05/15/20260.1%
Citizens Bank NA/Providence RI6.064% 10/24/20250.1%
National Fuel Gas Co5.500% 10/01/20260.1%
Donlen Fleet Lease Funding 2 LLC0.560% 12/11/20340.1%
Madison Park Funding XI Ltd6.574% 07/23/20290.1%
NextEra Energy Capital Holdings Inc6.051% 03/01/20250.1%
Truist Financial Corp4.260% 07/28/20260.1%
Citigroup Inc4.140% 05/24/20250.1%
JPMorgan Chase & Co3.845% 06/14/20250.1%
BBCMS Mortgage Trust 2020-C72.021% 04/15/20530.1%
Marlette Funding Trust 2020-24.650% 09/16/20300.1%
BlueMountain Fuji US Clo I Ltd6.657% 07/20/20290.1%
National Grid PLC5.602% 06/12/20280.1%
General Motors Financial Co Inc5.400% 04/06/20260.1%
GS Mortgage Securities Trust 2015-GC343.506% 10/10/20480.1%
Hyatt Hotels Corp1.800% 10/01/20240.1%
Pagaya AI Debt Trust 2022-12.030% 10/15/20290.1%
US 5YR NOTE (CBT) Dec230.000% 01/04/20240.1%
CARLYLE US CLO 2017-3 Ltd6.577% 07/20/20290.1%
Bank of Montreal5.678% 12/08/20230.1%
ONEOK Inc5.550% 11/01/20260.1%
Bank of New York Mellon Corp/The4.543% 02/01/20290.0%
Macquarie Group Ltd1.340% 01/12/20270.0%
ONEOK Inc5.650% 11/01/20280.0%
Bank of New York Mellon Corp/The4.947% 04/26/20270.0%
Dryden XXVI Senior Loan Fund6.555% 04/15/20290.0%
Crown Castle Inc5.000% 01/11/20280.0%
Standard Chartered PLC1.214% 03/23/20250.0%
SMBC Aviation Capital Finance DAC5.450% 05/03/20280.0%
First Investors Auto Owner Trust 2021-20.480% 03/15/20270.0%
Bank of America Corp1.734% 07/22/20270.0%
Mountain View CLO 2017-1 LLC6.745% 10/16/20290.0%
Benchmark 2021-B23 Mortgage Trust1.620% 02/15/20540.0%
PVH Corp7.750% 11/15/20230.0%
BPCE SA4.875% 04/01/20260.0%
Viterra Finance BV4.900% 04/21/20270.0%
HEICO Corp5.250% 08/01/20280.0%
Arrow Electronics Inc6.125% 03/01/20260.0%
Flagship Credit Auto Trust 2022-34.060% 10/15/20250.0%
Illumina Inc5.800% 12/12/20250.0%
Navient Private Education Refi Loan Trust 2020-F1.220% 07/15/20690.0%
Warnermedia Holdings Inc3.788% 03/15/20250.0%
Octane Receivables Trust 2022-14.180% 03/20/20280.0%
Morgan Stanley6.138% 10/16/20260.0%
Corebridge Global Funding5.750% 07/02/20260.0%
Elevance Health Inc4.900% 02/08/20260.0%
Oncor Electric Delivery Co LLC4.300% 05/15/20280.0%
GLS Auto Receivables Issuer Trust 2021-11.200% 01/15/20270.0%
OneMain Financial Issuance Trust 2018-23.570% 03/14/20330.0%
Octagon Investment Partners XIV Ltd6.605% 07/15/20290.0%
Aqua Finance Trust 2021-A1.540% 07/17/20460.0%
Galaxy XIX CLO Ltd6.610% 07/24/20300.0%
Truist Financial Corp4.873% 01/26/20290.0%
Goldman Sachs Group Inc/The2.640% 02/24/20280.0%
Octane Receivables Trust 2021-10.930% 03/22/20270.0%
WFRBS Commercial Mortgage Trust 2014-C203.995% 05/15/20470.0%
Carmax Auto Owner Trust 2020-12.640% 07/15/20260.0%
Bank of America Corp2.456% 10/22/20250.0%
Williams Cos Inc/The5.400% 03/02/20260.0%
Bank of America Corp1.530% 12/06/20250.0%
American Express Co5.389% 07/28/20270.0%
COMM 2014-UBS3 Mortgage Trust3.819% 06/10/20470.0%
Regatta Funding LP 2013-2A6.505% 01/15/20290.0%
GLS Auto Receivables Issuer Trust 2021-30.780% 11/17/20250.0%
MVW Owner Trust 2017-12.420% 12/20/20340.0%
Affirm Asset Securitization Trust 2022-X11.750% 02/15/20270.0%
LCM XXII Ltd6.837% 10/20/20280.0%
Avolon Holdings Funding Ltd6.375% 05/04/20280.0%
NextEra Energy Capital Holdings Inc4.200% 06/20/20240.0%
Duke Energy Corp2.650% 09/01/20260.0%
Verus Securitization Trust 2020-51.218% 05/25/20650.0%
Avolon Holdings Funding Ltd2.750% 02/21/20280.0%
CSMC 2020-NQM1 Trust1.208% 05/25/20650.0%
BDS 2020-FL5 LTD6.599% 02/16/20370.0%
Angel Oak Mortgage Trust 2020-61.261% 05/25/20650.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN6.652% 11/15/20350.0%
LMREC 2021-CRE4 LLC6.503% 04/22/20370.0%
Cantor Commercial Real Estate Lending 2019-CF14.411% 05/15/20520.0%
Wells Fargo Commercial Mortgage Trust 2015-C263.580% 02/15/20480.0%
CPI Swap0.010% 04/15/20240.0%
Verus Securitization Trust 2020-41.502% 05/25/20650.0%
GCAT 2020-NQM2 Trust1.555% 04/25/20650.0%
Vista Point Securitization Trust 2020-21.475% 04/25/20650.0%
HMH Trust 2017-NSS3.787% 07/05/20310.0%
COMM 2014-UBS6 Mortgage Trust3.644% 12/10/20470.0%
CPI Swap0.010% 01/15/20240.0%
Ellington Financial Mortgage Trust 2020-12.006% 05/25/20650.0%
MSCG Trust 2015-ALDR2.612% 06/07/20350.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN6.982% 11/15/20350.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN7.332% 11/15/20350.0%
CPI Swap0.010% 03/24/20240.0%
Verus Securitization Trust 2020-INV11.977% 03/25/20600.0%
CPI Swap0.010% 03/27/20250.0%
Government National Mortgage Association3.000% 01/16/20480.0%
Towd Point Asset Trust 2018-SL16.039% 01/25/20460.0%
CPI Swap0.010% 07/15/20250.0%
CPI Swap0.010% 07/15/20240.0%
Citigroup Commercial Mortgage Trust 2018-B23.788% 03/10/20510.0%
Citigroup Commercial Mortgage Trust 2015-GC272.944% 02/10/20480.0%
INTERCONTINENTAL EXCHANGE INC0.000% 05/24/20240.0%
US 2YR NOTE (CBT) Dec230.000% 01/04/2024-0.1%

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

For
YTD Dividends Paidas of 12/01/2023
$0.39369
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2023 $0.03868 $9.10
Daily Daily 10/31/2023 $0.03783 $9.02
Daily Daily 09/30/2023 $0.03681 $9.04
Daily Daily 08/31/2023 $0.03750 $9.08
Daily Daily 07/31/2023 $0.03664 $9.08
Daily Daily 06/30/2023 $0.03603 $9.06
Daily Daily 05/31/2023 $0.03629 $9.12
Daily Daily 04/30/2023 $0.03516 $9.19
Daily Daily 03/31/2023 $0.03441 $9.18
Daily Daily 02/28/2023 $0.03204 $9.12
Daily Daily 01/31/2023 $0.03231 $9.20

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 12/31/2023

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 12/01/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $9.34
$100,000 to $249,999 1.75% 1.50% $9.29
$250,000 to $499,999 1.25% 1.00% $9.25
Greater than $500,000 0.00% 1.00% $9.13

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

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

For Sales Charge Reductions and Waivers View Full Disclosure

SALES CHARGE REDUCTIONS AND WAIVERS

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

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

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

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

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

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

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

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

 

EXPENSE RATIOas of 10/31/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
0.79% 0.60%

Expense ratio details, Click here.

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015

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

                    

1

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

 

2

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

 

3

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

 

IMPORTANT INFORMATION

 

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.

 

Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

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

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

 

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

 

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

 

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

 

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.

 

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