LSYNX | Short Duration High Yield Fund Class F3 | Lord Abbett
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Short Duration High Yield Fund

Daily price w/o sales charge as of 05/07/2021

$11.00

arrowUp$0.01

YTD Returns w/o sales charge as of 05/07/2021

2.94%

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 05/07/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 5.22% 1.98%

30-Day Standardized Yield 2 as of 03/31/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.45% 2.19%

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

Fund Basicsas of 03/31/2021

Total Net Assets
$13.11 M
Inception Date
05/01/2020
Dividend Frequency
Monthly
Fund Gross Expense Ratio
3.68%
Fund Net Expense Ratio
0.44%
Number of Holdings
461

Fund Expense Ratio :

Gross 3.68%

Net 0.44%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 2.83% 17.33% - - - 17.35%
Lipper Category Avg. Short High Yield Funds 2.22% 14.32% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD 2.35% 16.35% - - - 16.35%

Fund Expense Ratio :

Gross 3.68%

Net 0.44%

Fund Expense Ratio :

Gross 3.68%

Net 0.44%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 2.02% - - - - 16.41%
Lipper Category Avg. Short High Yield Funds 1.53% - - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD 1.50% - - - - 15.38%

Fund Expense Ratio :

Gross 3.68%

Net 0.44%

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.

Weighing the Broader Impact of Crude Oil Price Volatility
April 24, 2020

Here, we assess the potential implications for key asset classes of the dramatic plunge in the price of May 2020 West Texas Intermediate crude oil.

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 65 Investment Professionals with 17 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 05/07/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 5.22% 1.98%

30-Day Standardized Yield 2 as of 03/31/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.45% 2.19%

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

Fund Expense Ratio :

Gross 3.68%

Net 0.44%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 2.83% 17.33% - - - 17.35%
Lipper Category Avg. Short High Yield Funds 2.22% 14.32% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD 2.35% 16.35% - - - 16.35%

Fund Expense Ratio :

Gross 3.68%

Net 0.44%

Fund Expense Ratio :

Gross 3.68%

Net 0.44%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 2.02% - - - - 16.41%
Lipper Category Avg. Short High Yield Funds 1.53% - - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD 1.50% - - - - 15.38%

Fund Expense Ratio :

Gross 3.68%

Net 0.44%

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 14.11% 3.85%
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 2.02% - - - 2.94%
2020 - - 4.08% 5.42% 14.11%

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

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Corporate
Bank Loans
Investment Grade Corporate
ABS
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 03/31/2021

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 12/31/2020

  • One of the Fund’s largest overweights is in the leisure sector, which is largely driven by the Fund’s allocation to regional gaming credits, such as casinos. In our view, the gaming industry has benefitted from strong operating improvements due to drastic cost-cutting including reduced promotional spend, as well as pent-up demand. Our focus on regional gaming has also benefitted 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. As gaming continued to recover, we began to pivot toward hotel and travel companies. We added to cruise lines, travel agencies, and other travel-related names, including airline operators that we believe are going above and beyond to increase revenue and passenger yields. 
  • 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 in 2020 while also working to preserve margins. For 2021, we believe outperformance will more likely be driven by sleeves of opportunity 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 potential beneficiaries. 

PORTFOLIO DETAILS as of 03/31/2021

Total Net Assets
$13.11 M
Number of Issues
461
Average Coupon
5.52%
Average Maturity
3.05 Years
Average Effective Duration
1.65 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 3.2%
Webster Park CLO Ltd 2.024% 07/20/2030 1.9%
Occidental Petroleum Corp 2.900% 08/15/2024 1.7%
Sprint Corp 7.625% 02/15/2025 1.6%
Voya CLO 2019-1 Ltd 1.791% 04/15/2031 1.2%
Netflix Inc 3.625% 06/15/2025 1.1%
Mclaren Finance PLC 5.000% 08/01/2022 1.0%
HCA Inc 7.500% 12/15/2023 1.0%
Peach Property Finance GmbH 4.375% 11/15/2025 0.9%
Cogent Communications Group Inc 4.375% 06/30/2024 0.9%
% of Total Assets 14.5%
Holding Coupon Maturity Assets
Ford Motor Co9.000% 04/22/20253.2%
Webster Park CLO Ltd2.024% 07/20/20301.9%
Occidental Petroleum Corp2.900% 08/15/20241.7%
Sprint Corp7.625% 02/15/20251.6%
Voya CLO 2019-1 Ltd1.791% 04/15/20311.2%
Netflix Inc3.625% 06/15/20251.1%
Mclaren Finance PLC5.000% 08/01/20221.0%
HCA Inc7.500% 12/15/20231.0%
Peach Property Finance GmbH4.375% 11/15/20250.9%
Cogent Communications Group Inc4.375% 06/30/20240.9%
Freeport-McMoRan Inc4.550% 11/14/20240.9%
Inter Media and Communication SpA4.875% 12/31/20220.8%
JP Morgan Chase Commercial Mortgage Securities Tru3.956% 03/15/20360.8%
AMMC CLO 15 Ltd3.641% 01/15/20320.8%
Tenet Healthcare Corp4.625% 09/01/20240.7%
Caesars Entertainment Inc6.250% 07/01/20250.7%
OneMain Finance Corp8.875% 06/01/20250.7%
Carnival Corp11.500% 04/01/20230.7%
Navient Corp7.250% 01/25/20220.6%
HAT Holdings I LLC / HAT Holdings II LLC6.000% 04/15/20250.6%
Western Midstream Operating LP3.950% 06/01/20250.6%
MGM Resorts International6.000% 03/15/20230.6%
Tesla Inc5.300% 08/15/20250.5%
OneMain Finance Corp8.250% 10/01/20230.5%
Apache Corp4.625% 11/15/20250.5%
Oceaneering International Inc4.650% 11/15/20240.5%
Delta Air Lines Inc / SkyMiles IP Ltd4.500% 10/20/20250.5%
Southwestern Energy Co6.450% 01/23/20250.5%
Murphy Oil Corp6.875% 08/15/20240.5%
JPMorgan Chase & Co4.000% 12/31/20990.5%
EQT Corp7.625% 02/01/20250.5%
FirstEnergy Corp2.050% 03/01/20250.5%
TransDigm Inc5.500% 11/15/20270.5%
Grinding Media Inc / Moly-Cop AltaSteel Ltd7.375% 12/15/20230.5%
General Electric Co3.514% 06/15/21990.4%
Continental Resources Inc/OK3.800% 06/01/20240.4%
American Airlines Inc11.750% 07/15/20250.4%
TRI Pointe Group Inc / TRI Pointe Homes Inc5.875% 06/15/20240.4%
Macy's Retail Holdings LLC3.625% 06/01/20240.4%
Navient Corp6.750% 06/25/20250.4%
Royal Caribbean Cruises Ltd9.125% 06/15/20230.4%
Royal Caribbean Cruises Ltd11.500% 06/01/20250.4%
Popular Inc6.125% 09/14/20230.4%
TechnipFMC PLC6.500% 02/01/20260.4%
XPO Logistics Inc6.250% 05/01/20250.4%
Ovintiv Exploration Inc5.625% 07/01/20240.4%
Hawaiian Brand Intellectual Property Ltd / Hawaiia5.750% 01/20/20260.4%
Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd8.000% 09/20/20250.4%
CIT Group Inc5.000% 08/01/20230.4%
Brinker International Inc5.000% 10/01/20240.4%
CrownRock LP / CrownRock Finance Inc5.625% 10/15/20250.4%
Taylor Morrison Communities Inc / Taylor Morrison5.875% 04/15/20230.4%
WW International Inc8.625% 12/01/20250.4%
Magnolia Oil & Gas Operating LLC / Magnolia Oil &6.000% 08/01/20260.4%
American Axle & Manufacturing Inc6.250% 04/01/20250.4%
Warrior Met Coal Inc8.000% 11/01/20240.4%
Buckeye Partners LP4.150% 07/01/20230.3%
CSC Holdings LLC5.250% 06/01/20240.3%
Forterra Finance LLC / FRTA Finance Corp6.500% 07/15/20250.3%
STL Holding Co LLC7.500% 02/15/20260.3%
Travel + Leisure Co5.650% 04/01/20240.3%
Matador Resources Co5.875% 09/15/20260.3%
Fairstone Financial Inc7.875% 07/15/20240.3%
Panera Bread Company0.000% 07/18/20220.3%
BCPE Ulysses Intermediate Inc7.750% 04/01/20270.3%
ChampionX Corp6.375% 05/01/20260.3%
Prime Security Services Borrower LLC / Prime Finan5.250% 04/15/20240.3%
Core & Main Holdings LP8.625% 09/15/20240.3%
VistaJet Malta Finance PLC / XO Management Holding10.500% 06/01/20240.3%
Vistra Operations Co LLC5.500% 09/01/20260.3%
Netflix Inc5.500% 02/15/20220.3%
Howmet Aerospace Inc6.875% 05/01/20250.3%
Petrobras Global Finance BV5.299% 01/27/20250.3%
Ball Corp5.250% 07/01/20250.3%
Hawaiian Airlines 2013-1 Class A Pass Through Cert3.900% 01/15/20260.3%
CSC Holdings, LLC (Cablevision)2.356% 07/17/20250.3%
MGM Growth Properties Operating Partnership LP / M5.625% 05/01/20240.3%
EPR Properties5.250% 07/15/20230.3%
Claros Mortgage Trust Inc.6.000% 08/05/20260.3%
Park Intermediate Holdings LLC / PK Domestic Prope7.500% 06/01/20250.3%
PDC Energy Inc6.125% 09/15/20240.3%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.3%
Advisor Group, Inc.4.609% 07/31/20260.3%
Boyd Gaming Corporation2.331% 09/15/20230.3%
Mattel Inc3.150% 03/15/20230.3%
TerraForm Power Operating LLC4.250% 01/31/20230.3%
Delta Air Lines Inc3.800% 04/19/20230.3%
L Brands Inc6.875% 07/01/20250.3%
PTC Inc3.625% 02/15/20250.3%
Century Communities Inc5.875% 07/15/20250.3%
Air Lease Corp4.650% 12/15/21990.3%
Buckeye Partners LP6.375% 01/22/20780.3%
BCP Raptor II LLC0.000% 10/22/20250.3%
Terraform Global Operating LLC6.125% 03/01/20260.3%
L Brands Inc5.625% 02/15/20220.3%
New Home Co Inc/The7.250% 10/15/20250.3%
CDW LLC / CDW Finance Corp4.125% 05/01/20250.3%
Calpine Corp5.250% 06/01/20260.3%
Boyne USA Inc7.250% 05/01/20250.3%
Seven Generations Energy Ltd5.375% 09/30/20250.3%
NEP/NCP Holdco Inc3.359% 10/05/20250.3%
Tanger Properties LP3.875% 12/01/20230.3%
Renaissance Holding Corp.3.359% 05/30/20250.3%
RP Escrow Issuer LLC5.250% 12/15/20250.3%
Aircastle Ltd5.250% 08/11/20250.3%
Trinity Industries Inc4.550% 10/01/20240.3%
Ingevity Corp4.500% 02/01/20260.3%
DISH DBS Corp5.875% 07/15/20220.3%
Newell Brands Inc4.700% 04/01/20260.3%
Alliance Data Systems Corp4.750% 12/15/20240.3%
Advisor Group Holdings Inc10.750% 08/01/20270.3%
TripAdvisor Inc7.000% 07/15/20250.3%
Univision Communications Inc5.125% 02/15/20250.2%
Ccs-Cmgc Holdings Inc5.609% 10/01/20250.2%
BFLD 2019-DPLO2.646% 10/15/20340.2%
California Resources Corp7.125% 02/01/20260.2%
Callon Petroleum Co9.000% 04/01/20250.2%
Herbalife Nutrition Ltd / HLF Financing Inc7.875% 09/01/20250.2%
Synovus Financial Corp0.000% -0.2%
Airbnb Inc0.000% 03/15/20260.2%
Laureate Education Inc8.250% 05/01/20250.2%
Petroleos Mexicanos4.875% 01/24/20220.2%
ADT Security Corp/The3.500% 07/15/20220.2%
Tenneco Inc5.000% 07/15/20260.2%
Endeavor Energy Resources LP / EER Finance Inc5.500% 01/30/20260.2%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.2%
VeriSign Inc5.250% 04/01/20250.2%
Citigroup Inc3.875% 05/18/21990.2%
Caesars Resort Collection LLC / CRC Finco Inc5.250% 10/15/20250.2%
Diamondback Energy Inc2.875% 12/01/20240.2%
Shift4 Payments LLC / Shift4 Payments Finance Sub4.625% 11/01/20260.2%
Colorado Buyer, Inc.8.250% 05/01/20250.2%
Sensata Technologies BV4.875% 10/15/20230.2%
Kaiser Aluminum Corp6.500% 05/01/20250.2%
Kuehg Corp4.750% 02/14/20250.2%
ESH Hospitality Inc5.250% 05/01/20250.2%
American Airlines Group Inc3.750% 03/01/20250.2%
Clark Equipment Co5.875% 06/01/20250.2%
PGT Innovations Inc6.750% 08/01/20260.2%
Ally Financial Inc5.750% 11/20/20250.2%
Tapestry Inc4.250% 04/01/20250.2%
Citigroup Inc5.950% 12/31/20990.2%
Starfruit US Holdco LLC2.860% 09/20/20250.2%
Hillman Group Inc/The6.375% 07/15/20220.2%
HCA Inc5.375% 02/01/20250.2%
Sirius XM Radio Inc4.625% 07/15/20240.2%
PRA Group Inc7.375% 09/01/20250.2%
EnerSys5.000% 04/30/20230.2%
Goodyear Tire & Rubber Co/The9.500% 05/31/20250.2%
Microchip Technology Inc1.625% 02/15/20250.2%
LGI Homes Inc6.875% 07/15/20260.2%
Manitowoc Co Inc/The9.000% 04/01/20260.2%
Travel Leaders Group, LLC4.109% 01/25/20240.2%
Outfront Media Capital LLC / Outfront Media Capita6.250% 06/15/20250.2%
DPL Inc4.125% 07/01/20250.2%
Molina Healthcare Inc5.375% 11/15/20220.2%
DISH DBS Corp5.875% 11/15/20240.2%
Precision Drilling Corp7.125% 01/15/20260.2%
Great Wolf Trust 2019-WOLF2.039% 12/15/20360.2%
Mohegan Gaming & Entertainment8.000% 02/01/20260.2%
Motion Finco LLc3.453% 10/17/20260.2%
Nathan's Famous Inc6.625% 11/01/20250.2%
Berry Petroleum Co LLC7.000% 02/15/20260.2%
Grab Holdings Inc5.500% 01/14/20260.2%
Great Lakes Dredge & Dock Corp.8.000% 05/15/20220.2%
Newell Brands Inc4.000% 06/15/20220.2%
Hill-Rom Holdings Inc5.000% 02/15/20250.2%
Centennial Resource Production LLC5.375% 01/15/20260.2%
Hadrian Merger Sub Inc8.500% 05/01/20260.2%
Western Digital Corp1.500% 02/01/20240.2%
Triumph Group Inc7.750% 08/15/20250.2%
Topgolf International, Inc.7.358% 02/09/20260.2%
Quality Distribution, Inc.6.500% 08/18/20220.2%
Service Properties Trust4.650% 03/15/20240.2%
Contura Energy Inc9.000% 06/14/20240.2%
Forestar Group Inc8.000% 04/15/20240.2%
Penske Automotive Group Inc3.500% 09/01/20250.2%
Heartland Dental, LLC3.609% 04/30/20250.2%
Live Nation Entertainment Inc2.000% 02/15/20250.2%
Spring Education Group, Inc.4.453% 07/30/20250.2%
Teva Pharmaceutical Finance Netherlands III BV2.800% 07/21/20230.2%
Ultimate Software Group Inc3.859% 05/04/20260.2%
Diamond BC BV4.423% 09/06/20240.2%
AMC Networks Inc4.750% 08/01/20250.2%
SM Energy Co5.625% 06/01/20250.2%
Delta Air Lines Inc7.000% 05/01/20250.2%
Pebblebrook Hotel Trust1.750% 12/15/20260.2%
Global Medical Response Inc6.500% 10/01/20250.2%
Rite Aid Corp8.000% 11/15/20260.2%
FXI Holdings Inc7.875% 11/01/20240.2%
Air Methods Corp8.000% 05/15/20250.2%
NextEra Energy Operating Partners LP4.250% 09/15/20240.2%
Spectacle Gary Holding11.000% 10/17/20240.2%
Arcor SAIC6.000% 07/06/20230.2%
Cleveland-Cliffs Inc9.875% 10/17/20250.2%
Optiv Sec, Inc.4.250% 02/01/20240.2%
NCL Corp Ltd3.625% 12/15/20240.2%
Cinemark USA, Inc.1.860% 03/31/20250.2%
Buena Vista Gaming Authority13.000% 04/01/20230.2%
Mack-Cali Realty LP4.500% 04/18/20220.2%
Credit Acceptance Corp5.125% 12/31/20240.2%
Wolverine Escrow LLC8.500% 11/15/20240.2%
Fair Isaac Corp5.250% 05/15/20260.2%
Range Resources Corp5.000% 03/15/20230.2%
Elwood Energy LLC8.159% 07/05/20260.2%
Norbord Inc6.250% 04/15/20230.2%
Navitas Midstream Midland Basin, LLC5.500% 12/13/20240.2%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.2%
Nabors Industries Ltd7.250% 01/15/20260.2%
Hertz Corp/The5.500% 10/15/20240.2%
Diamond Sports Group LLC / Diamond Sports Finance5.375% 08/15/20260.2%
Guidehouse LLP4.109% 05/01/20250.2%
Carnival Corp7.625% 03/01/20260.2%
Talen Energy Supply LLC6.500% 06/01/20250.2%
JetBlue Airways Corp6.250% 06/12/20240.2%
NCL Corp Ltd12.250% 05/15/20240.2%
Helix Gen Funding, LLC4.750% 06/03/20240.2%
Snap Inc0.750% 08/01/20260.2%
PDC Energy Inc5.750% 05/15/20260.2%
Wabash National Corp5.500% 10/01/20250.2%
Brookfield Residential Properties, Inc. / Brookfie6.375% 05/15/20250.2%
CITGO Petroleum Corp7.000% 06/15/20250.2%
Life Time Inc5.750% 01/15/20260.2%
JB Poindexter & Co Inc7.125% 04/15/20260.2%
Seven Generations Energy Ltd6.750% 05/01/20230.2%
Team Health Holdings Inc6.375% 02/01/20250.2%
XPO Logistics Inc6.750% 08/15/20240.2%
Miller's Ale House, Inc.4.856% 05/30/20250.2%
HD Supply Inc.3.750% 08/01/20240.2%
EmployBridge, LLC5.500% 04/18/20250.2%
AMC Entertainment Holdings Inc12.000% 06/15/20260.2%
Brand Energy & Infrastructure Services, Inc. (fka5.250% 06/21/20240.2%
Landry's Restaurants Inc.4.578% 10/04/20230.2%
Akumin Inc7.000% 11/01/20250.2%
Itron Inc5.000% 01/15/20260.2%
Laredo Petroleum Inc9.500% 01/15/20250.2%
Aviation Capital Group LLC1.950% 01/30/20260.1%
Hillenbrand Inc5.750% 06/15/20250.1%
Boyd Corporation3.609% 09/06/20250.1%
AMC Entertainment Holdings4.500% 03/20/20260.1%
United PF Holdings LLC4.203% 12/30/20260.1%
Meritage Homes Corp6.000% 06/01/20250.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
Cyxtera DC Holdings, Inc. (fka Colorado Buyer Inc.)4.000% 05/01/20240.1%
Alta Equipment Group Inc5.625% 04/15/20260.1%
ACProducts Inc7.500% 08/13/20250.1%
Gap Inc/The8.875% 05/15/20270.1%
Northriver Midstream Finance LP5.625% 02/15/20260.1%
Enviva Partners LP / Enviva Partners Finance Corp6.500% 01/15/20260.1%
Penn National Gaming, Inc.3.385% 10/15/20250.1%
Chassix Inc6.113% 11/10/20230.1%
US Renal Care Inc.5.125% 06/13/20260.1%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.1%
NEXSTAR BROADCASTING GROUP2.360% 01/17/20240.1%
Party City Holdings Inc8.750% 02/15/20260.1%
Specialty Building Products Holdings LLC / SBP Fin6.375% 09/30/20260.1%
New Fortress Energy Inc6.750% 09/15/20250.1%
Legends Hospitality Holding Co LLC / Legends Hospi5.000% 02/01/20260.1%
Guitar Center Inc8.500% 01/15/20260.1%
Performance Food Group Inc5.500% 06/01/20240.1%
Callon Petroleum Co6.250% 04/15/20230.1%
PetVet Care Centers, LLC2.859% 02/14/20250.1%
SM Energy Co6.125% 11/15/20220.1%
World Wrestling Entertainment Inc3.375% 12/15/20230.1%
PennyMac Financial Services Inc5.375% 10/15/20250.1%
Fastlane Parent Company, Inc.4.609% 12/19/20250.1%
Texas Capital Bancshares Inc0.000% -0.1%
Compass Minerals International, Inc.4.875% 07/15/20240.1%
Lyft Inc1.500% 05/15/20250.1%
Veritas US Inc / Veritas Bermuda Ltd7.500% 09/01/20250.1%
Scientific Games International, Inc.8.625% 07/01/20250.1%
Booking Holdings Inc0.750% 05/01/20250.1%
INTRAWEST RESORTS HLDGS INC2.859% 07/31/20240.1%
ASP Unifrax Holdings Inc3.953% 11/05/20250.1%
Weibo Corp1.250% 11/15/20220.1%
Nordstrom Inc4.000% 03/15/20270.1%
WPX Energy Inc8.250% 08/01/20230.1%
Liftoff Mobile Inc4.250% 02/17/20280.1%
Gap Inc/The8.625% 05/15/20250.1%
Sally Holdings LLC / Sally Capital, Inc.8.750% 04/30/20250.1%
Anastasia Beverly Hills3.953% 08/11/20250.1%
Boyd Gaming Corp8.625% 06/01/20250.1%
Deliver Buyer, Inc. (aka MHS Holdings, Inc.)5.203% 05/01/20240.1%
Turning Point Brands Inc2.500% 07/15/20240.1%
Granite Holdings US Acquisition4.169% 09/30/20260.1%
Avolon Holdings Funding Ltd4.250% 04/15/20260.1%
GCP Applied Technologies Inc5.500% 04/15/20260.1%
Avolon Holdings Funding Ltd5.500% 01/15/20260.1%
Container Store5.750% 01/20/20260.1%
Fluor Corp3.500% 12/15/20240.1%
MGM Resorts International5.750% 06/15/20250.1%
Great Wolf Trust 2019-WOLF2.838% 12/15/20360.1%
Allegheny Technologies Inc7.875% 08/15/20230.1%
Clarios Global LP6.750% 05/15/20250.1%
Chefs' Warehouse Inc/The1.875% 12/01/20240.1%
NMG Holding Co Inc / Neiman Marcus Group LLC7.125% 04/01/20260.1%
Intertape Polymer Group Inc7.000% 10/15/20260.1%
Cvent, Inc.3.900% 11/29/20240.1%
Elanco Animal Health Inc5.272% 08/28/20230.1%
ModivCare Inc5.875% 11/15/20250.1%
Atlantic Aviation FBO Inc.3.860% 11/30/20250.1%
Associated Asphalt Partners, LLC6.898% 04/05/20240.1%
Transocean Guardian Ltd5.875% 01/15/20240.1%
BEP Ulterra Holdings Inc.5.359% 11/26/20250.1%
Select Medical Corp6.250% 08/15/20260.1%
Fresh Market Inc/The9.750% 05/01/20230.1%
JP Morgan Chase Commercial Mortgage Securities Tru1.406% 06/15/20320.1%
Navistar International Corp6.625% 11/01/20250.1%
ASURION LLC3.163% 11/03/20240.1%
HLF Financing Sarl LLC / Herbalife International I7.250% 08/15/20260.1%
MEG Energy Corp6.500% 01/15/20250.1%
American Airlines Group Inc6.500% 07/01/20250.1%
Hudbay Minerals Inc4.500% 04/01/20260.1%
Melissa & Doug5.435% 06/19/20240.1%
Ritchie Bros Auctioneers Inc5.375% 01/15/20250.1%
Hunt Cos Inc6.250% 02/15/20260.1%
Coty Inc6.500% 04/15/20260.1%
Ball Corp5.000% 03/15/20220.1%
VeriSign Inc4.625% 05/01/20230.1%
Sabre GLBL Inc7.375% 09/01/20250.1%
United Airlines 2020-1 Class A Pass Through Trust5.875% 10/15/20270.1%
Silgan Holdings Inc4.750% 03/15/20250.1%
CCM Merger Inc6.375% 05/01/20260.1%
Brazos Delaware II, LLC4.111% 05/21/20250.1%
Astoria Energy LLC0.000% 12/03/20270.1%
Bulldog Purchaser Inc.5.392% 08/22/20250.1%
Enphase Energy Inc0.000% 03/01/20260.1%
Bob's Discount Furniture, LLC6.250% 08/08/20230.1%
Great Wolf Trust 2019-WOLF1.440% 12/15/20360.1%
Novelis Corp5.875% 09/30/20260.1%
Scorpio Tankers Inc3.000% 05/15/20250.1%
Ladder Capital Finance Holdings LLC/Ladder Capital4.250% 02/01/20270.1%
Aramark Intermediate HoldCo Corporation1.859% 03/11/20250.1%
CWGS Group, LLC (aka Camping World, Inc.)4.695% 11/08/20230.1%
EyeCare Partners LLC3.859% 02/05/20270.1%
Banijay Group US Holding3.854% 02/04/20250.1%
Playa Resorts Holding B.V.3.750% 04/29/20240.1%
Carvana Co5.625% 10/01/20250.1%
Robertshaw US Holding Corp. (fka Fox US Bidco Corp5.171% 02/28/20250.1%
WP CityMD Bidco LLC4.500% 08/13/20260.1%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp4.250% 05/30/20230.1%
Cinemark USA Inc5.875% 03/15/20260.1%
Ingles Markets Inc5.750% 06/15/20230.1%
Ally Financial Inc3.875% 05/21/20240.1%
NCL Corp Ltd5.875% 03/15/20260.1%
Range Resources Corp4.875% 05/15/20250.1%
Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp.5.875% 05/15/20250.1%
AI Aqua Merger Sub, Inc.5.044% 12/13/20230.1%
Ahern Rentals Inc7.375% 05/15/20230.1%
WOW! (Wide Open West)4.250% 08/18/20230.1%
Caesars Resort Collection LLC / CRC Finco Inc5.750% 07/01/20250.1%
CIT Group Inc3.929% 06/19/20240.1%
Southwest Airlines Co1.250% 05/01/20250.1%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.1%
CPI CG Inc8.625% 03/15/20260.1%
ADT Security Corp/The4.125% 06/15/20230.1%
Downstream Development Authority of the Quapaw Tri10.500% 02/15/20230.1%
Turning Point Brands Inc5.625% 02/15/20260.1%
Lennar Corp4.750% 05/30/20250.1%
US Acute Care Solutions LLC6.375% 03/01/20260.1%
Newell Brands Inc4.875% 06/01/20250.1%
Drive Chassis Holdco LLC8.484% 04/10/20260.1%
Twitter Inc0.250% 06/15/20240.1%
PHH Mortgage Corp7.875% 03/15/20260.1%
VICI Properties LP / VICI Note Co Inc3.500% 02/15/20250.1%
Antero Midstream Partners LP / Antero Midstream Fi7.875% 05/15/20260.1%
Uber Technologies Inc7.500% 05/15/20250.1%
FMG Resources August 2006 Pty Ltd5.125% 05/15/20240.1%
Avis Budget Car Rental LLC / Avis Budget Finance,5.250% 03/15/20250.1%
Endo Dac / Endo Finance LLC / Endo Finco Inc6.000% 06/30/20280.1%
Vail Resorts Inc6.250% 05/15/20250.1%
Avient Corp5.750% 05/15/20250.1%
Marriott Vacations Worldwide Corp.1.500% 09/15/20220.1%
Picasso Finance Sub Inc6.125% 06/15/20250.1%
Taylor Morrison Communities Inc / Taylor Morrison5.625% 03/01/20240.1%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.1%
Brundage-Bone Concrete Pumping Holdings Inc6.000% 02/01/20260.1%
Shift4 Payments Inc0.000% 12/15/20250.1%
Buckeye Partners LP4.125% 03/01/20250.1%
Petroleos Mexicanos3.500% 01/30/20230.1%
MGM Resorts International6.750% 05/01/20250.1%
Resolute Forest Products Inc4.875% 03/01/20260.1%
Capitol Investment Merger Sub 2 LLC10.000% 08/01/20240.1%
Duravant4.000% 07/19/20240.1%
Peak 10 Holding Corporation3.703% 08/01/20240.1%
Imperva Inc5.000% 11/20/20250.1%
NIO Inc0.500% 02/01/20270.1%
Leslies Poolmart, Inc.3.250% 03/09/20280.1%
Jeld Wen, Inc.2.109% 12/14/20240.1%
Expedia Group Inc6.250% 05/01/20250.1%
Patrick Industries Inc1.000% 02/01/20230.1%
WP CPP Holdings, LLC4.750% 04/30/20250.1%
Transocean Proteus Ltd6.250% 12/01/20240.1%
White Cap Parent LLC8.250% 03/15/20260.1%
Dick's Sporting Goods Inc3.250% 04/15/20250.1%
American Airlines Inc/AAdvantage Loyalty IP Ltd5.500% 04/20/20260.1%
Western Midstream Operating LP4.000% 07/01/20220.1%
Caleres Inc6.250% 08/15/20230.1%
GLP Capital LP / GLP Financing II Inc5.375% 11/01/20230.1%
FX USD/EUR 06/210.000% 06/04/20210.1%
Transocean Sentry Ltd5.375% 05/15/20230.1%
Sealed Air Corp5.125% 12/01/20240.1%
Meritor Inc6.250% 06/01/20250.1%
Canopy Growth Corp9.500% 03/18/20260.1%
Diamond Sports Group LLC / Diamond Sports Finance6.625% 08/15/20270.1%
Rattler Midstream LP5.625% 07/15/20250.1%
SSL Robotics LLC9.750% 12/31/20230.1%
Cedar Fair LP / Canada's Wonderland Co / Magnum Ma5.375% 06/01/20240.1%
TGP Holding III LLC(Traeger Pellet Grill Hdg LLC)5.959% 09/25/20240.1%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.1%
KKR Industrial Portfolio Trust 2021-KDIP2.156% 12/15/20370.1%
KKR Industrial Portfolio Trust 2021-KDIP1.356% 12/15/20370.1%
Itron Inc0.000% 03/15/20260.1%
KKR Industrial Portfolio Trust 2021-KDIP1.656% 12/15/20370.1%
Mohegan Gaming & Entertainment7.875% 10/15/20240.1%
J.P. Morgan Chase Commercial Mortgage Securities T4.009% 10/05/20310.1%
H.B. Fuller Company2.111% 10/20/20240.1%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.1%
Hayward Acquisition Corp.4.804% 08/05/20240.1%
IRB Holding Corp6.750% 02/15/20260.1%
Clear Channel Worldwide Holdings, Inc.9.250% 02/15/20240.1%
Equinox Holdings Inc.4.918% 03/08/20240.1%
APX Group Inc7.625% 09/01/20230.1%
Solaris Midstream Holdings LLC7.625% 04/01/20260.1%
Sensata Technologies BV5.625% 11/01/20240.1%
OneMain Finance Corp4.000% 09/15/20300.1%
Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.1%
MGM Growth Properties Operating Partnership LP / M4.625% 06/15/20250.1%
Barracuda Networks, Inc.5.122% 02/12/20250.1%
Continental Resources Inc/OK5.000% 09/15/20220.1%
William Carter Co/The5.500% 05/15/20250.1%
HUB International Ltd7.000% 05/01/20260.1%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.1%
Avis Budget Car Rental LLC / Avis Budget Finance,6.375% 04/01/20240.1%
Tms International Holding Corp7.250% 08/15/20250.1%
Caesars Entertainment Inc8.125% 07/01/20270.1%
Energy Acquisition LP (aka Electrical Components International)4.359% 06/26/20250.1%
CD&R Smokey Buyer Inc6.750% 07/15/20250.0%
Trident TPI Holdings Inc9.250% 08/01/20240.0%
New Gold Inc6.375% 05/15/20250.0%
Nabors Industries Inc5.750% 02/01/20250.0%
Mattel Inc3.375% 04/01/20260.0%
Fogo De Chao Inc6.191% 04/07/20250.0%
PetVet Care Centers, LLC4.250% 02/14/20250.0%
IRB Holding Corp7.000% 06/15/20250.0%
Comstock Resources Inc7.500% 05/15/20250.0%
Motion Finco LLc3.453% 10/17/20260.0%
Comstock Resources Inc9.750% 08/15/20260.0%
Precision Drilling Corp7.750% 12/15/20230.0%
Mattel Inc6.750% 12/31/20250.0%
Hertz Corp/The0.000% 10/15/20220.0%
Precision Drilling Corp5.250% 11/15/20240.0%
Canopy Growth Corp4.250% 07/15/20230.0%
Spectacle Gary Holding11.000% 11/07/20250.0%
PetVet Care Centers, LLC3.685% 02/14/20250.0%
FX USD/GBP 06/210.000% 06/08/20210.0%
US 5YR NOTE (CBT) JUN210.000% 07/06/20210.0%
FX CAD/USD 04/210.000% 04/20/20210.0%
FX CAD/USD 04/210.000% 04/20/20210.0%
FX CAD/USD 04/210.000% 04/20/20210.0%
FX USD/CAD 04/210.000% 04/20/20210.0%

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 04/30/2021

Fund Gross Expense Ratio Fund Net Expense Ratio
3.68% 0.44%

Expense ratio details, Click here.

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
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Prospectus (XBRL)
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015

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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.

 

 

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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