LSYFX | Short Duration High Yield Fund Class F | Lord Abbett
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Short Duration High Yield Fund

Daily price w/o sales charge as of 10/21/2021

$10.97

arrowDown$0.01

YTD Returns w/o sales charge as of 10/21/2021

5.11%

Click here to view all legal text including risk information

Summary

Summary

What is the Short Duration High Yield Fund?

The Fund’s investment objective is to seek a high current income and the opportunity for capital appreciation to produce a high total return.

 

Yield

Dividend Yield 1 as of 10/21/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 5.32% 1.98%

30-Day Standardized Yield 2 as of 09/30/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.41% 2.21%

Fund Basicsas of 09/30/2021

Total Net Assets
$18.08 M
Inception Date
05/01/2020
Dividend Frequency
Monthly
Fund Gross Expense Ratio
3.85%
Fund Net Expense Ratio
0.51%
Number of Holdings
432

Fund Expense Ratio :

Gross 3.85%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 4.90% 10.57% - - - 13.48%
Lipper Category Avg. Short High Yield Funds 3.69% 8.05% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD 4.08% 9.03% - - - 12.58%

Fund Expense Ratio :

Gross 3.85%

Net 0.51%

Fund Expense Ratio :

Gross 3.85%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 4.90% 10.57% - - - 13.48%
Lipper Category Avg. Short High Yield Funds 3.69% 8.05% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD 4.08% 9.03% - - - 12.58%

Fund Expense Ratio :

Gross 3.85%

Net 0.51%

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

RELATED CONTENT

Uncovering Opportunity in a Rebounding U.S. High Yield Market
June 11, 2020

With the broad financial market recovery since late March, U.S. high yield is no longer as dislocated, but the rationale for a strategic allocation to the asset class remains intact in our view.

“Fallen Angels” Gain a Rising Profile in High Yield
June 1, 2020

Bonds downgraded from investment grade to speculative grade historically have outperformed other areas of high yield—but we believe a selective approach to these securities is crucial.

U.S. High Yield: Navigating Through the Volatility
March 31, 2020

Lord Abbett experts assess the challenges—and opportunities—they’re finding in today’s U.S. high yield market.

INVESTMENT TEAM

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

19 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Managing Director, Portfolio Manager

12 Years of Industry Experience

Karen J. Gunnerson
Karen J. Gunnerson

Portfolio Manager

8 Years of Industry Experience

Supported By 64 Investment Professionals with 16 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

Dividend Yield 1 as of 10/21/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 5.32% 1.98%

30-Day Standardized Yield 2 as of 09/30/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.41% 2.21%

Fund Expense Ratio :

Gross 3.85%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 4.90% 10.57% - - - 13.48%
Lipper Category Avg. Short High Yield Funds 3.69% 8.05% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD 4.08% 9.03% - - - 12.58%

Fund Expense Ratio :

Gross 3.85%

Net 0.51%

Fund Expense Ratio :

Gross 3.85%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 4.90% 10.57% - - - 13.48%
Lipper Category Avg. Short High Yield Funds 3.69% 8.05% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD 4.08% 9.03% - - - 12.58%

Fund Expense Ratio :

Gross 3.85%

Net 0.51%

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 ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD
2020 14.07% 3.85%
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 1.99% 2.07% 0.77% - 5.11%
2020 - - 4.06% 5.40% 14.07%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Corporate
Bank Loans
CLO
Investment Grade Corporate
CMBS
Other
Cash

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

Rating Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

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

Credit Quality Distribution as of 09/30/2021

Rating Assets
AA
A
BBB
BB
B
CCC
<CCC
Not Rated

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

Portfolio Positioning as of 03/31/2021

  • One of the Fund’s largest sector overweights is in leisure, which is largely driven by the Fund’s allocation to regional gaming credits, such as casinos. In our view, the gaming industry has benefited from strong operating improvements due to drastic cost-cutting including reduced promotional spend, as well as pent-up demand. The Fund’s focus on regional gaming has also benefited from an emphasis on operators who are less reliant on ‘fly-in’ customers and workweek business conferences, both of which are a larger part of the industry in international gaming centers such as Las Vegas.
  • We continue to have a broadly constructive view on high yield credit even while acknowledging that today’s valuations are far less dislocated than they were for much of 2020. Management teams have broadly positioned balance sheets to weather any residual economic softness near term through an active new issue market while also working to preserve margins. For 2021, we believe potential outperformance will likely be sourced by idiosyncratic opportunities within high yield as opposed to broad market moves. We continue to see upside in fallen angels, many of which we believe will regain investment grade status over the coming year or two. Further, while the pandemic has accelerated the secular struggles of segments of the economy, it has produced structural changes with new beneficiaries.  The Fund’s positioning currently reflects this view as we are investing in companies and industries that we believe are better poised to adapt to and benefit from these structural economic changes.

PORTFOLIO DETAILS as of 09/30/2021

Total Net Assets
$18.08 M
Number of Issues
432
Average Coupon
5.64%
Average Maturity
3.49 Years
Average Effective Duration
1.91 Years

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

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding Coupon Maturity Assets
Ford Motor Co 9.000% 04/22/2025 2.8%
Occidental Petroleum Corp 5.550% 03/15/2026 1.8%
Webster Park CLO Ltd 1.934% 07/20/2030 1.4%
TransDigm Inc 5.500% 11/15/2027 1.3%
Welltec International ApS 8.250% 10/15/2026 1.1%
Tianqi Finco Co Ltd 3.750% 11/28/2022 1.1%
American Airlines Inc 11.750% 07/15/2025 0.9%
Sprint Corp 7.625% 02/15/2025 0.9%
CIFC Funding 2021-III Ltd 3.148% 07/15/2036 0.8%
Voya CLO 2019-1 Ltd 1.676% 04/15/2031 0.8%
% of Total Assets 12.9%
Holding Coupon Maturity Assets
Ford Motor Co9.000% 04/22/20252.9%
Occidental Petroleum Corp5.550% 03/15/20261.8%
Webster Park CLO Ltd1.934% 07/20/20301.4%
Sprint Corp7.625% 02/15/20251.4%
TransDigm Inc5.500% 11/15/20271.1%
Tianqi Finco Co Ltd3.750% 11/28/20221.0%
Voya CLO 2019-1 Ltd1.676% 04/15/20310.8%
CIFC Funding 2021-III Ltd3.148% 07/15/20360.8%
Freeport-McMoRan Inc4.550% 11/14/20240.8%
Netflix Inc3.625% 06/15/20250.8%
Ford Motor Co4.346% 12/08/20260.8%
American Airlines Inc11.750% 07/15/20250.8%
Navient Corp6.750% 06/25/20250.8%
Royal Caribbean Cruises Ltd9.125% 06/15/20230.7%
HCA Inc7.500% 12/15/20230.7%
Peach Property Finance GmbH4.375% 11/15/20250.7%
Pinnacle Bidco PLC5.500% 02/15/20250.7%
Cogent Communications Group Inc4.375% 06/30/20240.7%
Stonegate Pub Co Financing 2019 PLC5.200% 07/31/20250.7%
United Airlines Inc4.375% 04/15/20260.7%
Western Midstream Operating LP3.950% 06/01/20250.7%
Promontoria Holding 264 BV6.750% 08/15/20230.6%
Signa Development Finance SCS5.500% 07/23/20260.6%
Inter Media and Communication SpA4.875% 12/31/20220.6%
SM Energy Co5.625% 06/01/20250.6%
Matador Resources Co5.875% 09/15/20260.6%
JPMorgan Chase & Co4.000% 12/31/20990.6%
JP Morgan Chase Commercial Mortgage Securities Tru3.946% 03/15/20360.6%
Oceaneering International Inc4.650% 11/15/20240.6%
AMMC CLO 15 Ltd3.526% 01/15/20320.6%
TCW CLO 2017-1A Ltd3.280% 07/29/20290.6%
OneMain Finance Corp8.875% 06/01/20250.5%
Howmet Aerospace Inc6.875% 05/01/20250.5%
Tenet Healthcare Corp4.625% 09/01/20240.5%
General Electric Co3.514% 06/15/21990.5%
FMG Resources August 2006 Pty Ltd4.500% 09/15/20270.5%
Caesars Entertainment Inc6.250% 07/01/20250.5%
Apache Corp4.625% 11/15/20250.5%
California Resources Corp7.125% 02/01/20260.5%
HCA Inc5.375% 02/01/20250.5%
Warrior Met Coal Inc8.000% 11/01/20240.5%
Carnival Corp11.500% 04/01/20230.5%
Range Resources Corp4.875% 05/15/20250.5%
EQT Corp6.625% 02/01/20250.4%
HAT Holdings I LLC / HAT Holdings II LLC6.000% 04/15/20250.4%
Spirit AeroSystems Inc5.500% 01/15/20250.4%
Southwestern Energy Co6.450% 01/23/20250.4%
Buckeye Partners LP6.375% 01/22/20780.4%
Laredo Petroleum Inc9.500% 01/15/20250.4%
MGM Resorts International6.000% 03/15/20230.4%
Forestar Group Inc3.850% 05/15/20260.4%
Gap Inc/The8.875% 05/15/20270.4%
OneMain Finance Corp7.125% 03/15/20260.4%
Turning Point Brands Inc5.625% 02/15/20260.4%
Grinding Media Inc / Moly-Cop AltaSteel Ltd7.375% 12/15/20230.4%
Colgate Energy Partners III LLC7.750% 02/15/20260.4%
Tenet Healthcare Corp4.875% 01/01/20260.4%
Starfruit US Holdco LLC2.838% 09/20/20250.4%
American Airlines Group Inc3.750% 03/01/20250.4%
Bath & Body Works Inc9.375% 07/01/20250.4%
Hawaiian Brand Intellectual Property Ltd / Hawaiia5.750% 01/20/20260.4%
TechnipFMC PLC6.500% 02/01/20260.4%
Legacy LifePoint Health LLC4.375% 02/15/20270.4%
HAT Holdings I LLC / HAT Holdings II LLC3.375% 06/15/20260.4%
PDC Energy Inc5.750% 05/15/20260.4%
Brinker International Inc5.000% 10/01/20240.4%
CITGO Petroleum Corp7.000% 06/15/20250.4%
OneMain Finance Corp8.250% 10/01/20230.4%
Trinity Industries Inc4.550% 10/01/20240.4%
Oasis Petroleum Inc6.375% 06/01/20260.4%
Endeavor Energy Resources LP / EER Finance Inc5.500% 01/30/20260.4%
VICI Properties LP / VICI Note Co Inc3.500% 02/15/20250.4%
Magnolia Oil & Gas Operating LLC / Magnolia Oil &6.000% 08/01/20260.4%
Precision Drilling Corp7.125% 01/15/20260.4%
USA Compression Partners LP / USA Compression Fina6.875% 04/01/20260.4%
BCPE Ulysses Intermediate Inc7.750% 04/01/20270.3%
FXI Holdings Inc7.875% 11/01/20240.3%
SkyMiles IP Ltd4.750% 09/16/20270.3%
Berry Petroleum Co LLC7.000% 02/15/20260.3%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.3%
Claros Mortgage Trust Inc.6.000% 08/05/20260.3%
Drive Chassis Holdco LLC7.119% 04/10/20260.3%
Cleveland-Cliffs Inc9.875% 10/17/20250.3%
Antero Midstream Partners LP / Antero Midstream Fi7.875% 05/15/20260.3%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.3%
Hudbay Minerals Inc4.500% 04/01/20260.3%
Air Lease Corp4.650% 06/15/21990.3%
TRI Pointe Group Inc / TRI Pointe Homes Inc5.875% 06/15/20240.3%
New Home Co Inc/The7.250% 10/15/20250.3%
Fortress Transportation and Infrastructure Investo6.500% 10/01/20250.3%
Advisor Group Holdings Inc10.750% 08/01/20270.3%
CHS/Community Health Systems Inc5.625% 03/15/20270.3%
Gray Television Inc7.000% 05/15/20270.3%
DISH DBS Corp5.875% 11/15/20240.3%
Quikrete Holdings3.081% 06/11/20280.3%
Popular Inc6.125% 09/14/20230.3%
Ingevity Corp4.500% 02/01/20260.3%
Lithia Motors Inc4.625% 12/15/20270.3%
Cedar Fair LP / Canada's Wonderland Co / Magnum Ma5.500% 05/01/20250.3%
United States Steel Corp6.250% 03/15/20260.3%
Carnival Corp10.500% 02/01/20260.3%
Ally Financial Inc4.700% 08/15/21990.3%
Ovintiv Exploration Inc5.625% 07/01/20240.3%
Energy Transfer LP6.500% 11/15/21990.3%
Independence Energy Finance LLC7.250% 05/01/20260.3%
Novavax Inc3.750% 02/01/20230.3%
WASH Multifamily Acquisition Inc5.750% 04/15/20260.3%
CrownRock LP / CrownRock Finance Inc5.625% 10/15/20250.3%
AMC Networks Inc4.750% 08/01/20250.3%
Hudson River Trading LLC3.085% 03/19/20280.3%
Allegheny Technologies Inc7.875% 08/15/20230.3%
PHH Mortgage Corp7.875% 03/15/20260.3%
VistaJet Malta Finance PLC / XO Management Holding10.500% 06/01/20240.3%
Bombardier Inc7.125% 06/15/20260.3%
EQT Corp3.125% 05/15/20260.3%
Manitowoc Co Inc/The9.000% 04/01/20260.3%
Centennial Resource Production LLC5.375% 01/15/20260.3%
Citigroup Inc3.875% 05/18/21990.3%
Microchip Technology Inc4.250% 09/01/20250.3%
Contura Energy Inc10.000% 06/14/20240.3%
Buckeye Partners LP4.150% 07/01/20230.3%
Callon Petroleum Co6.125% 10/01/20240.3%
Citgo Holding Inc9.250% 08/01/20240.3%
Radian Group Inc4.875% 03/15/20270.3%
Western Digital Corp4.750% 02/15/20260.2%
William Carter Co/The5.500% 05/15/20250.2%
CSC Holdings LLC5.250% 06/01/20240.2%
STL Holding Co LLC7.500% 02/15/20260.2%
Sprint Corp7.625% 03/01/20260.2%
Forterra Finance LLC / FRTA Finance Corp6.500% 07/15/20250.2%
Range Resources Corp5.000% 03/15/20230.2%
Murphy Oil Corp6.875% 08/15/20240.2%
Uber Technologies Inc8.000% 11/01/20260.2%
Symphony Finance Sub Llc5.500% 08/03/20280.2%
Jefferson Capital Holdings LLC6.000% 08/15/20260.2%
Air Methods Corp8.000% 05/15/20250.2%
Fluor Corp3.500% 12/15/20240.2%
Solaris Midstream Holdings LLC7.625% 04/01/20260.2%
JB Poindexter & Co Inc7.125% 04/15/20260.2%
Panera Bread Company2.375% 07/18/20220.2%
Sunnova Energy Corp5.875% 09/01/20260.2%
Ball Corp5.250% 07/01/20250.2%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.2%
Heartland Dental, LLC4.918% 04/30/20250.2%
Nabors Industries Inc9.000% 02/01/20250.2%
American Axle & Manufacturing Inc6.250% 04/01/20250.2%
CSC Holdings, LLC (Cablevision)2.345% 07/17/20250.2%
Insulet Corporation3.750% 04/29/20280.2%
MGM Growth Properties Operating Partnership LP / M5.625% 05/01/20240.2%
Engineered Machinery Hol4.500% 05/21/20280.2%
DPL Inc4.125% 07/01/20250.2%
Tronox Inc6.500% 05/01/20250.2%
PDC Energy Inc6.125% 09/15/20240.2%
EyeCare Partners LLC3.857% 02/05/20270.2%
Mattel Inc3.150% 03/15/20230.2%
EPR Properties5.250% 07/15/20230.2%
Advisor Group, Inc.4.585% 07/31/20260.2%
Hawaiian Airlines 2013-1 Class A Pass Through Cert3.900% 01/15/20260.2%
BCP Raptor II LLC4.835% 10/22/20250.2%
Terraform Global Operating LLC6.125% 03/01/20260.2%
Fastlane Parent Company, Inc.4.585% 12/19/20250.2%
GCP Applied Technologies Inc5.500% 04/15/20260.2%
NextEra Energy Operating Partners LP3.875% 10/15/20260.2%
Century Communities Inc5.875% 07/15/20250.2%
Radiate Holdco LLC / Radiate Finance Inc4.500% 09/15/20260.2%
Select Medical Corp6.250% 08/15/20260.2%
Granite Holdings US Acquisition4.173% 09/30/20260.2%
Peabody Energy Corp.2.938% 03/31/20250.2%
Snap Inc0.750% 08/01/20260.2%
Alta Equipment Group Inc5.625% 04/15/20260.2%
Radiology Partners Inc9.250% 02/01/20280.2%
Macy's Retail Holdings LLC3.625% 06/01/20240.2%
Guitar Center Inc8.500% 01/15/20260.2%
Team Health Holdings Inc6.375% 02/01/20250.2%
City Football Group Ltd4.000% 07/08/20280.2%
Gulfport Energy Operating Corp8.000% 05/17/20260.2%
Air Canada3.875% 08/15/20260.2%
Carvana Co5.625% 10/01/20250.2%
Square Inc0.125% 03/01/20250.2%
FirstEnergy Corp2.050% 03/01/20250.2%
Resolute Forest Products Inc4.875% 03/01/20260.2%
Edelman Financial Center4.250% 03/19/20280.2%
Brand Energy & Infrastructure Services, Inc. (fka5.250% 06/21/20240.2%
Calpine Corp5.250% 06/01/20260.2%
Northriver Midstream Finance LP5.625% 02/15/20260.2%
Triumph Group Inc7.750% 08/15/20250.2%
Magenta Buyer Llc5.750% 04/29/20280.2%
Melissa & Doug5.435% 06/19/20240.2%
Aircastle Ltd5.250% 08/11/20250.2%
Renaissance Holding Corp.3.335% 05/30/20250.2%
BEP Ulterra Holdings Inc.5.335% 11/26/20250.2%
Party City Holdings Inc8.750% 02/15/20260.2%
Robertshaw US Holding Corp. (fka Fox US Bidco Corp4.250% 02/28/20250.2%
Sensata Technologies BV5.000% 10/01/20250.2%
RP Escrow Issuer LLC5.250% 12/15/20250.2%
Newell Brands Inc4.700% 04/01/20260.2%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.2%
PennyMac Financial Services Inc5.375% 10/15/20250.2%
CryoPort Inc3.000% 06/01/20250.2%
Compass Minerals International, Inc.4.875% 07/15/20240.2%
Callon Petroleum Co9.000% 04/01/20250.2%
Burlington Stores Inc2.250% 04/15/20250.2%
Array Technologies Inc3.750% 10/07/20270.2%
Prime Security Services Borrower LLC / Prime Finan5.750% 04/15/20260.2%
Alliance Data Systems Corp4.750% 12/15/20240.2%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.2%
ChampionX Corp6.375% 05/01/20260.2%
Illumina Inc0.000% 08/15/20230.2%
Univision Communications Inc5.125% 02/15/20250.2%
Herbalife Nutrition Ltd / HLF Financing Inc7.875% 09/01/20250.2%
Aircastle Ltd5.250% 09/15/21990.2%
BFLD 2019-DPLO2.636% 10/15/20340.2%
Bausch Health Americas Inc8.500% 01/31/20270.2%
Ccs-Cmgc Holdings Inc5.585% 10/01/20250.2%
Tenneco Inc5.000% 07/15/20260.2%
TripAdvisor Inc7.000% 07/15/20250.2%
Synovus Financial Corp0.000% -0.2%
Royal Caribbean Cruises Ltd11.500% 06/01/20250.2%
NCL Corp Ltd3.625% 12/15/20240.2%
WP CPP Holdings, LLC4.750% 04/30/20250.2%
Atlassian Inc0.625% 05/01/20230.2%
CCM Merger Inc6.375% 05/01/20260.2%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.2%
Miller's Ale House, Inc.4.837% 05/30/20250.2%
US Renal Care Inc.5.125% 06/13/20260.2%
NIO Inc0.500% 02/01/20270.2%
Coronado Finance Pty Ltd10.750% 05/15/20260.2%
Park-Ohio Industries Inc6.625% 04/15/20270.2%
Brazos Delaware II, LLC4.088% 05/21/20250.2%
Carnival Corp4.000% 08/01/20280.2%
Astoria Energy LLC4.500% 12/03/20270.2%
Caesars Resort Collection LLC / CRC Finco Inc5.250% 10/15/20250.2%
Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd8.000% 09/20/20250.2%
Banijay Group US Holding3.841% 02/04/20250.2%
Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp.5.875% 05/15/20250.2%
Shift4 Payments LLC / Shift4 Payments Finance Sub4.625% 11/01/20260.2%
FMG Resources August 2006 Pty Ltd5.125% 05/15/20240.2%
Kuehg Corp4.750% 02/14/20250.2%
Akumin Inc7.000% 11/01/20250.2%
Ally Financial Inc5.750% 11/20/20250.2%
Clark Equipment Co5.875% 06/01/20250.2%
PRA Group Inc7.375% 09/01/20250.2%
Citigroup Inc5.950% 12/31/20990.2%
Ovintiv Exploration Inc5.375% 01/01/20260.2%
PGT Innovations Inc6.750% 08/01/20260.2%
Brundage-Bone Concrete Pumping Holdings Inc6.000% 02/01/20260.2%
MGM Resorts International5.500% 04/15/20270.2%
Mohegan Gaming & Entertainment8.000% 02/01/20260.2%
Plains All American Pipeline L.P.6.125% 12/31/20990.2%
Downstream Development Authority of the Quapaw Tri10.500% 02/15/20230.2%
IH Merger Sub LLC3.500% 01/15/20220.2%
Goodyear Tire & Rubber Co/The9.500% 05/31/20250.2%
LD Holdings Group LLC6.500% 11/01/20250.2%
Syniverse Holdings, Inc.6.000% 03/09/20230.2%
Great Wolf Trust 2019-WOLF2.029% 12/15/20360.2%
ViacomCBS Inc0.000% 04/01/20240.2%
Outfront Media Capital LLC / Outfront Media Capita6.250% 06/15/20250.1%
Nexstar Media Inc5.625% 07/15/20270.1%
Natural Resource Partners LP / NRP Finance Corp9.125% 06/30/20250.1%
Spectacle Gary Holding11.000% 10/17/20240.1%
XHR LP6.375% 08/15/20250.1%
Texas Capital Bancshares Inc4.000% 05/06/20310.1%
Motion Finco LLc4.117% 10/17/20260.1%
Nathan's Famous Inc6.625% 11/01/20250.1%
Grab Holdings Inc5.500% 01/14/20260.1%
Hadrian Merger Sub Inc8.500% 05/01/20260.1%
Topgolf International, Inc.7.339% 02/09/20260.1%
National Mentor Holdings Inc4.500% 02/17/20280.1%
Penske Automotive Group Inc3.500% 09/01/20250.1%
Repligen Corp0.375% 07/15/20240.1%
Nabors Industries Ltd7.250% 01/15/20260.1%
Datadog Inc0.125% 06/15/20250.1%
Enviva Partners LP / Enviva Partners Finance Corp6.500% 01/15/20260.1%
NEP/NCP Holdco Inc8.794% 10/19/20260.1%
Spring Education Group, Inc.4.397% 07/30/20250.1%
Ahern Rentals Inc7.375% 05/15/20230.1%
Delta Air Lines Inc7.000% 05/01/20250.1%
Meritor Inc6.250% 06/01/20250.1%
Sabre GLBL Inc9.250% 04/15/20250.1%
Global Medical Response Inc6.500% 10/01/20250.1%
Rite Aid Corp8.000% 11/15/20260.1%
Credit Acceptance Corp5.125% 12/31/20240.1%
Buena Vista Gaming Authority13.000% 04/01/20230.1%
Workday Inc0.250% 10/01/20220.1%
Triumph Group Inc8.875% 06/01/20240.1%
Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.1%
Patrick Industries Inc7.500% 10/15/20270.1%
Mattel Inc3.375% 04/01/20260.1%
New Gold Inc6.375% 05/15/20250.1%
Carnival Corp7.625% 03/01/20260.1%
Sealed Air Corp5.125% 12/01/20240.1%
Elwood Energy LLC8.159% 07/05/20260.1%
IRB Holding Corp7.000% 06/15/20250.1%
Rising Tide Holdings Inc5.500% 05/26/20280.1%
Baffinland Iron Mines Corp / Baffinland Iron Mines8.750% 07/15/20260.1%
IIP Operating Partnership LP5.500% 05/25/20260.1%
MEG Energy Corp7.125% 02/01/20270.1%
Livent Corp4.125% 07/15/20250.1%
Anastasia Beverly Hills3.897% 08/11/20250.1%
Wabash National Corp5.500% 10/01/20250.1%
Helix Gen Funding, LLC4.750% 06/03/20240.1%
NCL Corp Ltd12.250% 05/15/20240.1%
Global Atlantic Fin Co4.700% 10/15/20510.1%
Dick's Sporting Goods Inc3.250% 04/15/20250.1%
Gibson Brands, Inc5.750% 06/25/20280.1%
Diamond Sports Group LLC / Diamond Sports Finance5.375% 08/15/20260.1%
Antero Resources Corp4.250% 09/01/20260.1%
Arcline Fm Holdings LLC5.500% 06/17/20280.1%
Landry's Restaurants Inc.3.250% 10/04/20230.1%
Cyxtera DC Holdings, Inc. (fka Colorado Buyer Inc.)4.000% 05/01/20240.1%
Meritage Homes Corp6.000% 06/01/20250.1%
Chassix Inc6.116% 11/10/20230.1%
Everbridge Inc0.125% 12/15/20240.1%
Specialty Building Products Holdings LLC / SBP Fin6.375% 09/30/20260.1%
Boyd Corporation3.748% 09/06/20250.1%
United PF Holdings LLC4.147% 12/30/20260.1%
Sea Ltd2.375% 12/01/20250.1%
PBF Holding Co LLC / PBF Finance Corp9.250% 05/15/20250.1%
Cinemark USA, Inc.1.840% 03/31/20250.1%
Legends Hospitality Holding Co LLC / Legends Hospi5.000% 02/01/20260.1%
Shopify Inc0.125% 11/01/20250.1%
Messer Industries USA2.684% 09/28/20250.1%
Ait Worldwide Logistic H5.500% 03/30/20280.1%
Twitter Inc0.250% 06/15/20240.1%
Talen Energy Supply LLC6.500% 06/01/20250.1%
Veritas US Inc / Veritas Bermuda Ltd7.500% 09/01/20250.1%
Antero Resources Corp8.375% 07/15/20260.1%
PetVet Care Centers, LLC4.050% 02/14/20250.1%
Fogo De Chao Inc6.648% 04/07/20250.1%
Bentley Systems Inc0.125% 01/15/20260.1%
INTRAWEST RESORTS HLDGS INC4.530% 07/31/20240.1%
Esdec Solar Group Bv5.750% 08/23/20280.1%
Scientific Games International, Inc.8.625% 07/01/20250.1%
Murphy Oil Corp5.750% 08/15/20250.1%
NMG Holding Co Inc / Neiman Marcus Group LLC7.125% 04/01/20260.1%
Liftoff Mobile Inc4.250% 02/17/20280.1%
Diamond Sports Group LLC / Diamond Sports Finance6.625% 08/15/20270.1%
Fair Isaac Corp5.250% 05/15/20260.1%
FX USD/EUR 09/210.000% 09/10/20210.1%
Avolon Holdings Funding Ltd5.500% 01/15/20260.1%
Granite Construction Inc2.750% 11/01/20240.1%
Deliver Buyer, Inc. (aka MHS Holdings, Inc.)5.147% 05/01/20240.1%
Gap Inc/The8.625% 05/15/20250.1%
Great Wolf Trust 2019-WOLF2.828% 12/15/20360.1%
USIC Holdings, Inc.7.250% 05/07/20290.1%
Buckeye Partners LP3.950% 12/01/20260.1%
Allied Universal Holdco LLC / Allied Universal Fin9.750% 07/15/20270.1%
Boyd Gaming Corp8.625% 06/01/20250.1%
MGM Resorts International5.750% 06/15/20250.1%
Party City Holdings Inc6.625% 08/01/20260.1%
Torrid LLC6.250% 05/21/20280.1%
Precision Drilling Corp6.875% 01/15/20290.1%
ModivCare Inc5.875% 11/15/20250.1%
Arcor SAIC6.000% 07/06/20230.1%
Transocean Guardian Ltd5.875% 01/15/20240.1%
Atlantic Aviation FBO Inc.3.840% 11/30/20250.1%
JP Morgan Chase Commercial Mortgage Securities Tru1.396% 06/15/20320.1%
Associated Asphalt Partners, LLC6.250% 04/05/20240.1%
Fresh Market Inc/The9.750% 05/01/20230.1%
Sovos Brands Intermediate5.000% 06/02/20280.1%
Coty Inc6.500% 04/15/20260.1%
ASP Unifrax Holdings Inc3.897% 11/05/20250.1%
ASURION LLC3.163% 11/03/20240.1%
Enphase Energy Inc0.000% 03/01/20260.1%
Silgan Holdings Inc4.750% 03/15/20250.1%
Wayfair Inc0.625% 10/01/20250.1%
Bulldog Purchaser Inc.3.975% 08/22/20250.1%
Cvent, Inc.3.835% 11/29/20240.1%
Ritchie Bros Auctioneers Inc5.375% 01/15/20250.1%
Sabre GLBL Inc7.375% 09/01/20250.1%
Ladder Capital Finance Holdings LLC/Ladder Capital4.250% 02/01/20270.1%
Great Wolf Trust 2019-WOLF1.430% 12/15/20360.1%
Bob's Discount Furniture, LLC6.250% 08/08/20230.1%
Aramark Intermediate HoldCo Corporation2.930% 03/11/20250.1%
Engineered Components and Systems, LLC6.500% 07/07/20280.1%
Coty Inc5.000% 04/15/20260.1%
CPI CG Inc8.625% 03/15/20260.1%
Scorpio Tankers Inc3.000% 05/15/20250.1%
United Airlines 2020-1 Class A Pass Through Trust5.875% 10/15/20270.1%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp4.250% 05/30/20230.1%
NCL Corp Ltd5.875% 03/15/20260.1%
Clarios Global LP6.750% 05/15/20250.1%
US Acute Care Solutions LLC6.375% 03/01/20260.1%
WOW! (Wide Open West)4.250% 08/18/20230.1%
Caesars Resort Collection LLC / CRC Finco Inc5.750% 07/01/20250.1%
Canopy Growth Corp9.500% 03/18/20260.1%
Newell Brands Inc4.875% 06/01/20250.1%
Raptor Acquisition Corp / Raptor Co-Issuer LLC4.875% 11/01/20260.1%
Uber Technologies Inc7.500% 05/15/20250.1%
Vail Resorts Inc6.250% 05/15/20250.1%
Avient Corp5.750% 05/15/20250.1%
US Acute Care Solutions LLC6.375% 03/01/20260.1%
Buckeye Partners LP4.125% 03/01/20250.1%
MEG Energy Corp6.500% 01/15/20250.1%
Imperva Inc5.000% 11/20/20250.1%
White Cap Parent LLC8.250% 03/15/20260.1%
MGM Resorts International6.750% 05/01/20250.1%
Picasso Finance Sub Inc6.125% 06/15/20250.1%
American Airlines Inc/AAdvantage Loyalty IP Ltd5.500% 04/20/20260.1%
Transocean Proteus Ltd6.250% 12/01/20240.1%
Centuri Group Inc3.000% 08/18/20280.1%
Transocean Sentry Ltd5.375% 05/15/20230.1%
Rattler Midstream LP5.625% 07/15/20250.1%
KKR Industrial Portfolio Trust 2021-KDIP2.146% 12/15/20370.1%
KKR Industrial Portfolio Trust 2021-KDIP1.346% 12/15/20370.1%
KKR Industrial Portfolio Trust 2021-KDIP1.646% 12/15/20370.1%
SSL Robotics LLC9.750% 12/31/20230.1%
J.P. Morgan Chase Commercial Mortgage Securities T4.143% 10/05/20310.1%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.1%
Mohegan Gaming & Entertainment7.875% 10/15/20240.1%
IRB Holding Corp6.750% 02/15/20260.1%
Sensata Technologies BV5.625% 11/01/20240.1%
MGM Growth Properties Operating Partnership LP / M4.625% 06/15/20250.0%
HUB International Ltd7.000% 05/01/20260.0%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.0%
Nabors Industries Inc5.750% 02/01/20250.0%
Caesars Entertainment Inc8.125% 07/01/20270.0%
Energy Acquisition LP (aka Electrical Components International)4.349% 06/26/20250.0%
CD&R Smokey Buyer Inc6.750% 07/15/20250.0%
Trident TPI Holdings Inc9.250% 08/01/20240.0%
Staples Inc7.500% 04/15/20260.0%
Novelis Corp3.250% 11/15/20260.0%
Caleres Inc6.250% 08/15/20230.0%
Peabody Energy Corp6.375% 03/31/20250.0%
PetVet Care Centers, LLC4.250% 02/14/20250.0%
Engineered Components and Systems, LLC0.000% 07/07/20280.0%
Comstock Resources Inc7.500% 05/15/20250.0%
FX USD/GBP 09/210.000% 09/08/20210.0%
Motion Finco LLc0.000% 10/17/20260.0%
Spectacle Gary Holding11.000% 11/07/20250.0%
PetVet Care Centers, LLC3.685% 02/14/20250.0%
National Mentor Holdings Inc3.750% 02/18/20280.0%
National Mentor Holdings Inc4.500% 02/18/20280.0%
Hertz Corp/The0.000% 10/15/20240.0%
FX USD/EUR 09/210.000% 09/10/20210.0%
Hertz Corp/The0.000% 10/15/20220.0%
FX EUR/USD 09/210.000% 09/10/20210.0%
Unifrax I LLC0.000% 08/12/20220.0%
Unifrax I LLC0.000% 08/12/20220.0%
US 2YR NOTE (CBT) DEC210.000% 01/05/20220.0%
FX EUR/USD 09/210.000% 09/10/20210.0%
FX USD/EUR 09/210.000% 09/10/20210.0%
FX USD/EUR 09/210.000% 09/10/20210.0%
FX GBP/USD 09/210.000% 09/08/20210.0%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Fees & Expenses

Fees & Expenses

Expense Ratioas of 09/30/2021

Fund Gross Expense Ratio Fund Net Expense Ratio
3.85% 0.51%

Expense ratio details, Click here.

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Fund Documents

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Portfolio Holdings 1Q
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*Barron’s Overall Fund Family of 2020,” #7 overall ranking among 53 qualifying fund families based on the net total return of the one-year period ending 12/31/2020. Five-year overall ranking is #4 out of 50 qualifying fund families; and 10-year overall ranking is #21 out of 44 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2020,” February 20, 2021. 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, 2020, 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 2021. 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.

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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.      

                    

 

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 investing strategy

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 your 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. The Fund invests primarily in high-yield, lower-rated securities, sometimes called junk bonds. 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.

 

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 ICE BofA HY U.S. Corp, Cash Pay, BB-B 1-5 YR USD Index consists of BB-B rated U.S. dollar-denominated corporate bonds publicly issued in the U.S. domestic market with maturities of 1 to 5 years.

Source: ICE Data Indices, LLC. 

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

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

 

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

 

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

 

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

 

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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