LSYTX | Short Duration High Yield Fund Class R5 | Lord Abbett

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Short Duration High Yield Fund

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

$9.60

arrowDown$0.03

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

-5.23%

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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 12/06/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 7.00% 6.01%

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

  Subsidized3 Un-Subsidized4
w/o sales charge 6.19% 5.93%

Fund Basicsas of 10/31/2022

Total Net Assets
$52.75 M
Inception Date
05/01/2020
Dividend Frequency
Monthly
Fund Gross Expense Ratio
1.50%
Fund Net Expense Ratio
0.51%
Number of Holdings
500

Fund Expense Ratio :

Gross 1.50%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge -5.24% -3.89% - - - 5.31%
Lipper Category Avg. Short High Yield Funds -4.36% -3.27% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD Index -4.95% -3.65% - - - 4.95%

Fund Expense Ratio :

Gross 1.50%

Net 0.51%

Fund Expense Ratio :

Gross 1.50%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge -9.04% -8.29% - - - 3.91%
Lipper Category Avg. Short High Yield Funds -7.23% -6.72% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD Index -8.83% -8.14% - - - 3.50%

Fund Expense Ratio :

Gross 1.50%

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

A Powerful Trend That Could Support U.S. High Yield in 2022
December 6, 2021

We expect a surge in “rising stars”—upgrades of U.S. debt issues from high yield to investment grade—over the next two years.

INVESTMENT TEAM

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

21 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Partner, Deputy Director of Leveraged Credit

14 Years of Industry Experience

Karen J. Gunnerson
Karen J. Gunnerson

Portfolio Manager

12 Years of Industry Experience

Supported By 71 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 12/06/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 7.00% 6.01%

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

  Subsidized3 Un-Subsidized4
w/o sales charge 6.19% 5.93%

Fund Expense Ratio :

Gross 1.50%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge -5.24% -3.89% - - - 5.31%
Lipper Category Avg. Short High Yield Funds -4.36% -3.27% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD Index -4.95% -3.65% - - - 4.95%

Fund Expense Ratio :

Gross 1.50%

Net 0.51%

Fund Expense Ratio :

Gross 1.50%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge -9.04% -8.29% - - - 3.91%
Lipper Category Avg. Short High Yield Funds -7.23% -6.72% - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD Index -8.83% -8.14% - - - 3.50%

Fund Expense Ratio :

Gross 1.50%

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 Index
2021 5.76% 4.87%
2020 14.06% 3.85%
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -2.05% -7.63% 0.54% - -5.23%
2021 2.00% 2.07% 0.77% 0.82% 5.76%
2020 - - 4.06% 5.40% 14.06%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Corporate
Investment Grade Corporate
Bank Loans
CLO
CMBS
Other
Cash
Rating Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years

Credit Quality Distribution as of 10/31/2022

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

PORTFOLIO DETAILS as of 10/31/2022

Total Net Assets
$52.75 M
Number of Issues
500
Average Coupon
5.73%
Average Maturity
3.99 Years
Average Effective Duration
2.66 Years
Average Yield to Worst
8.31%

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.

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

Holding Coupon Maturity Assets
TransDigm Inc 5.500% 11/15/2027 1.6%
DISH DBS Corp 5.875% 11/15/2024 1.0%
Sprint Corp 7.625% 03/01/2026 1.0%
Ford Motor Credit Co LLC 3.250% 09/15/2025 1.0%
Bombardier Inc 7.875% 04/15/2027 0.8%
United Airlines Inc 4.375% 04/15/2026 0.7%
Ford Motor Co 4.346% 12/08/2026 0.7%
Univision Communications Inc 5.125% 02/15/2025 0.7%
Ford Motor Co 6.625% 10/01/2028 0.7%
American Airlines Inc 11.750% 07/15/2025 0.7%
% of Total Assets 8.9%
Holding Coupon Maturity Assets
TransDigm Inc5.500% 11/15/20271.5%
Ford Motor Co4.346% 12/08/20261.3%
Ford Motor Co6.625% 10/01/20281.2%
American Airlines Inc11.750% 07/15/20251.0%
United Airlines Inc4.375% 04/15/20260.9%
Sprint Corp7.625% 03/01/20260.8%
CIFC Funding 2013-IV Ltd5.569% 04/27/20310.8%
CARLYLE US CLO 2019-3 LTD5.910% 10/20/20320.8%
Vistra Operations Co LLC5.500% 09/01/20260.7%
Univision Communications Inc5.125% 02/15/20250.7%
PDC Energy Inc5.750% 05/15/20260.7%
Oceaneering International Inc4.650% 11/15/20240.7%
Welltec International ApS8.250% 10/15/20260.7%
Tenet Healthcare Corp4.875% 01/01/20260.6%
Greenko Investment Co4.875% 08/16/20230.6%
Matador Resources Co5.875% 09/15/20260.6%
Caesars Entertainment Inc6.250% 07/01/20250.6%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.6%
LCPR Senior Secured Financing DAC6.750% 10/15/20270.6%
Ford Motor Credit Co LLC3.815% 11/02/20270.6%
Berry Petroleum Co LLC7.000% 02/15/20260.6%
Teva Pharmaceutical Finance Netherlands III BV3.150% 10/01/20260.6%
MEG Energy Corp5.875% 02/01/20290.5%
Crescent Energy Finance LLC7.250% 05/01/20260.5%
Live Nation Entertainment Inc4.750% 10/15/20270.5%
Sirius XM Radio Inc3.125% 09/01/20260.5%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC3.250% 03/15/20260.5%
Chord Energy Corp6.375% 06/01/20260.5%
Performance Food Group Inc5.500% 10/15/20270.5%
Churchill Downs Inc5.500% 04/01/20270.5%
Laredo Petroleum Inc9.500% 01/15/20250.5%
Delta Air Lines Inc4.375% 04/19/20280.5%
Earthstone Energy Holdings LLC8.000% 04/15/20270.5%
Aramark Services Inc6.375% 05/01/20250.5%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.5%
Block Inc2.750% 06/01/20260.5%
Tenet Healthcare Corp6.125% 10/01/20280.5%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.5%
Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp6.000% 08/01/20260.5%
Peabody Energy Corp5.834% 03/31/20250.5%
Range Resources Corp4.875% 05/15/20250.5%
DISH DBS Corp5.875% 11/15/20240.5%
Western Midstream Operating LP3.950% 06/01/20250.5%
W&T Offshore Inc9.750% 11/01/20230.4%
Air Canada3.875% 08/15/20260.4%
H&E Equipment Services Inc3.875% 12/15/20280.4%
Shift4 Payments LLC / Shift4 Payments Finance Sub Inc4.625% 11/01/20260.4%
California Resources Corp7.125% 02/01/20260.4%
Civitas Resources Inc5.000% 10/15/20260.4%
Gulfport Energy Corp8.000% 05/17/20260.4%
Caesars Entertainment Inc8.125% 07/01/20270.4%
Forestar Group Inc3.850% 05/15/20260.4%
OneMain Finance Corp3.500% 01/15/20270.4%
TerraForm Power Operating LLC5.000% 01/31/20280.4%
American Builders & Contractors Supply Co Inc4.000% 01/15/20280.4%
Hillenbrand Inc5.000% 09/15/20260.4%
Beacon Roofing Supply Inc4.500% 11/15/20260.4%
Acadia Healthcare Co Inc5.500% 07/01/20280.4%
CHS/Community Health Systems Inc5.625% 03/15/20270.4%
Prime Security Services Borrower LLC / Prime Finance Inc3.375% 08/31/20270.4%
Molina Healthcare Inc4.375% 06/15/20280.4%
Sensata Technologies BV5.000% 10/01/20250.4%
Boyd Gaming Corp4.750% 12/01/20270.4%
Precision Drilling Corp7.125% 01/15/20260.4%
Standard Industries Inc/NJ5.000% 02/15/20270.4%
WASH Multifamily Acquisition Inc5.750% 04/15/20260.4%
HAT Holdings I LLC / HAT Holdings II LLC6.000% 04/15/20250.4%
AMN Healthcare Inc4.625% 10/01/20270.4%
Petroleos Mexicanos6.490% 01/23/20270.4%
CITGO Petroleum Corp6.375% 06/15/20260.4%
Sunnova Energy Corp5.875% 09/01/20260.4%
Tap Rock Resources LLC7.000% 10/01/20260.4%
Brinker International Inc5.000% 10/01/20240.4%
Calpine Corp5.125% 03/15/20280.4%
MGM Resorts International5.500% 04/15/20270.4%
MHP SE7.750% 05/10/20240.4%
Bombardier Inc7.875% 04/15/20270.4%
Baytex Energy Corp8.750% 04/01/20270.4%
Mauser Packaging Solutions Holding Co5.500% 04/15/20240.4%
Nexstar Media Inc5.625% 07/15/20270.4%
VistaJet Malta Finance PLC / XO Management Holding Inc7.875% 05/01/20270.4%
Weatherford International Ltd11.000% 12/01/20240.4%
Sprint Capital Corp6.875% 11/15/20280.4%
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp6.000% 03/01/20270.4%
Marriott Ownership Resorts Inc4.750% 01/15/20280.4%
Directv Financing LLC / Directv Financing Co-Obligor Inc5.875% 08/15/20270.4%
Penn Virginia Holdings LLC9.250% 08/15/20260.3%
Permian Resources Operating LLC5.375% 01/15/20260.3%
1011778 BC ULC / New Red Finance Inc3.500% 02/15/20290.3%
LSB Industries Inc6.250% 10/15/20280.3%
Granite US Holdings Corp11.000% 10/01/20270.3%
FMG Resources August 2006 Pty Ltd4.500% 09/15/20270.3%
Alliance Resource Operating Partners LP / Alliance Resource Finance Corp7.500% 05/01/20250.3%
Jefferson Capital Holdings LLC6.000% 08/15/20260.3%
United Rentals North America Inc4.875% 01/15/20280.3%
Post Holdings Inc5.625% 01/15/20280.3%
EnerSys4.375% 12/15/20270.3%
US 5YR NOTE (CBT) Dec220.000% 01/05/20230.3%
Alta Equipment Group Inc5.625% 04/15/20260.3%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc4.750% 04/30/20270.3%
LABL Inc6.750% 07/15/20260.3%
Las Vegas Sands Corp3.500% 08/18/20260.3%
American Airlines Inc/AAdvantage Loyalty IP Ltd5.500% 04/20/20260.3%
VICI Properties LP / VICI Note Co Inc3.500% 02/15/20250.3%
AA Bond Co Ltd6.500% 01/31/20260.3%
AMC Networks Inc4.750% 08/01/20250.3%
Vermilion Energy Inc5.625% 03/15/20250.3%
Northriver Midstream Finance LP5.625% 02/15/20260.3%
SBA Communications Corp3.875% 02/15/20270.3%
Lamb Weston Holdings Inc4.875% 05/15/20280.3%
Select Medical Corp6.250% 08/15/20260.3%
Darling Ingredients Inc5.250% 04/15/20270.3%
Pinewood Finance Co Ltd3.625% 11/15/20270.3%
Science Applications International Corp4.875% 04/01/20280.3%
Banijay Entertainment SASU3.500% 03/01/20250.3%
SRS Distribution Inc4.625% 07/01/20280.3%
IPD 3 BV5.500% 12/01/20250.3%
Nordstrom Inc4.000% 03/15/20270.3%
Talen Energy Supply LLC6.500% 06/01/20250.3%
Bombardier Inc6.000% 02/15/20280.3%
Howmet Aerospace Inc6.875% 05/01/20250.3%
Chassix Inc7.563% 11/15/20230.3%
Pinnacle Bidco PLC5.500% 02/15/20250.3%
PeopleCert Wisdom Issuer PLC5.750% 09/15/20260.3%
Silgan Holdings Inc4.125% 02/01/20280.3%
ATS Automation Tooling Systems Inc4.125% 12/15/20280.3%
Griffon Corp5.750% 03/01/20280.3%
Golden Goose SpA5.196% 05/14/20270.3%
Enviva Partners LP / Enviva Partners Finance Corp6.500% 01/15/20260.3%
Goldman Sachs Group Inc/The3.650% 02/10/21710.3%
Legends Hospitality Holding Co LLC / Legends Hospitality Co-Issuer Inc5.000% 02/01/20260.3%
Liberty Mutual Group Inc3.625% 05/23/20590.3%
Kernel Holding SA6.500% 10/17/20240.3%
Maxar Technologies Inc7.750% 06/15/20270.3%
Virgin Media Vendor Financing Notes III DAC4.875% 07/15/20280.3%
Cullinan Holdco Scsp4.625% 10/15/20260.3%
Fortress Transportation and Infrastructure Investors LLC6.500% 10/01/20250.3%
Natural Resource Partners LP / NRP Finance Corp9.125% 06/30/20250.3%
MGM Resorts International4.750% 10/15/20280.3%
Occidental Petroleum Corp8.500% 07/15/20270.3%
Madison IAQ LLC4.125% 06/30/20280.3%
Novelis Corp3.250% 11/15/20260.3%
iQIYI Inc2.000% 04/01/20250.3%
Cellnex Telecom SA1.000% 04/20/20270.3%
Navient Corp5.875% 10/25/20240.3%
Life Time Inc5.750% 01/15/20260.3%
Grifols SA2.250% 11/15/20270.3%
Callon Petroleum Co6.375% 07/01/20260.3%
Starwood Property Trust Inc3.750% 12/31/20240.3%
EnQuest PLC7.000% 10/15/20230.3%
Coronado Finance Pty Ltd10.750% 05/15/20260.3%
Precision Drilling Corp6.875% 01/15/20290.3%
PBF Holding Co LLC / PBF Finance Corp7.250% 06/15/20250.3%
Citgo Holding Inc9.250% 08/01/20240.3%
DISH DBS Corp5.250% 12/01/20260.3%
Berry Global Inc4.875% 07/15/20260.3%
Travel + Leisure Co6.625% 07/31/20260.3%
Colgate Energy Partners III LLC7.750% 02/15/20260.3%
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer4.250% 10/15/20270.3%
Option Care Health Inc4.375% 10/31/20290.3%
CCO Holdings LLC / CCO Holdings Capital Corp5.125% 05/01/20270.2%
Centene Corp2.450% 07/15/20280.2%
Cytokinetics Inc3.500% 07/01/20270.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
Bread Financial Holdings Inc4.750% 12/15/20240.2%
XHR LP6.375% 08/15/20250.2%
Clear Channel Outdoor Holdings Inc5.125% 08/15/20270.2%
CQP HOLDCO LP7.424% 06/05/20280.2%
SS&C Technologies Inc5.500% 09/30/20270.2%
US Acute Care Solutions LLC6.375% 03/01/20260.2%
EnLink Midstream LLC5.625% 01/15/20280.2%
Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc2.875% 10/15/20260.2%
Lithia Motors Inc4.625% 12/15/20270.2%
AG TTMT Escrow Issuer LLC8.625% 09/30/20270.2%
Pike Corp5.500% 09/01/20280.2%
Penske Automotive Group Inc3.500% 09/01/20250.2%
Hecla Mining Co7.250% 02/15/20280.2%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC4.625% 01/15/20270.2%
Citigroup Inc3.875% 05/18/21710.2%
JB Poindexter & Co Inc7.125% 04/15/20260.2%
Crocs Inc6.480% 02/17/20290.2%
Service Properties Trust7.500% 09/15/20250.2%
Freeport LNG Investments LLLP6.210% 12/21/20280.2%
Advisor Group Holdings Inc10.750% 08/01/20270.2%
Cengage Learning Inc7.814% 07/14/20260.2%
Kestrel Acquisition LLC7.370% 06/02/20250.2%
CONSOL Energy Inc11.000% 11/15/20250.2%
CITGO Petroleum Corp7.000% 06/15/20250.2%
Eco Material Technologies Inc7.875% 01/31/20270.2%
Iron Mountain Inc4.875% 09/15/20270.2%
Buckeye Partners LP3.950% 12/01/20260.2%
CCO Holdings LLC / CCO Holdings Capital Corp5.375% 06/01/20290.2%
Oregon Clean Energy LLC6.865% 03/01/20260.2%
Cengage Learning Inc9.500% 06/15/20240.2%
Mercer International Inc5.500% 01/15/20260.2%
Wand NewCo 3 Inc0.000% 02/05/20260.2%
Mohegan Gaming & Entertainment8.000% 02/01/20260.2%
AECOM5.125% 03/15/20270.2%
Caesars Resort Collection LLC / CRC Finco Inc5.750% 07/01/20250.2%
Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd5.750% 01/20/20260.2%
Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.2%
JPMorgan Chase & Co4.000% 10/01/21710.2%
PARKWAY GENERATION LLC7.865% 02/18/20290.2%
HCA Inc5.375% 09/01/20260.2%
Picard Midco Inc6.500% 03/31/20290.2%
SM Energy Co6.750% 09/15/20260.2%
Radian Group Inc4.875% 03/15/20270.2%
Calpine Corp5.250% 06/01/20260.2%
Taylor Morrison Communities Inc5.875% 06/15/20270.2%
Weekley Homes LLC / Weekley Finance Corp4.875% 09/15/20280.2%
Birkenstock US BidCo Inc5.098% 04/28/20280.2%
BEP Ulterra Holdings Inc8.365% 11/26/20250.2%
Helix Gen Funding LLC6.865% 06/03/20240.2%
Prime Security Services Borrower LLC / Prime Finance Inc5.750% 04/15/20260.2%
EQM Midstream Partners LP6.000% 07/01/20250.2%
USA Compression Partners LP / USA Compression Finance Corp6.875% 04/01/20260.2%
EQM Midstream Partners LP4.125% 12/01/20260.2%
HAT Holdings I LLC / HAT Holdings II LLC3.375% 06/15/20260.2%
Permian Resources Operating LLC6.875% 04/01/20270.2%
Solaris Midstream Holdings LLC7.625% 04/01/20260.2%
Hawaiian Airlines 2013-1 Class A Pass Through Certificates3.900% 07/15/20270.2%
Verscend Escrow Corp9.750% 08/15/20260.2%
Chesapeake Energy Corp5.500% 02/01/20260.2%
Tri Pointe Homes Inc5.250% 06/01/20270.2%
Vistra Corp7.000% 06/15/21710.2%
Navient Corp6.750% 06/25/20250.2%
Exterran Energy Solutions LP / EES Finance Corp8.125% 05/01/20250.2%
Calumet Specialty Products Partners LP / Calumet Finance Corp8.125% 01/15/20270.2%
Tiger Acquisition LLC6.365% 06/01/20280.2%
SunCoke Energy Inc4.875% 06/30/20290.2%
ACProducts Holdings Inc7.127% 05/17/20280.2%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.2%
AVSC Holding Corp0.250% 03/03/20250.2%
Pactiv LLC7.950% 12/15/20250.2%
Gray Television Inc7.000% 05/15/20270.2%
Astoria Energy LLC6.615% 12/10/20270.2%
Core & Main LP4.319% 07/27/20280.2%
NOVA Chemicals Corp4.875% 06/01/20240.2%
GTCR AP Finance Inc8.000% 05/15/20270.2%
Tenet Healthcare Corp6.250% 02/01/20270.2%
Liberty Mutual Group Inc4.125% 12/15/20510.2%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.2%
PHYSICIAN PARTNERS LLC6.990% 12/23/20280.2%
Warrior Met Coal Inc7.875% 12/01/20280.2%
Eyecare Partners LLC7.424% 11/15/20280.2%
Full House Resorts Inc8.250% 02/15/20280.2%
M/I Homes Inc4.950% 02/01/20280.2%
Morgan Stanley5.300% 03/15/21710.2%
DEXKO GLOBAL INC7.424% 10/04/20280.2%
VICI Properties LP / VICI Note Co Inc4.250% 12/01/20260.2%
Booz Allen Hamilton Inc3.875% 09/01/20280.2%
Leeward Renewable Energy Operations LLC4.250% 07/01/20290.2%
NEP Group Inc10.115% 10/19/20260.2%
Colgate Energy Partners III LLC5.875% 07/01/20290.2%
Compass Power Generation LLC7.398% 04/14/20290.2%
Service Properties Trust4.350% 10/01/20240.2%
Global Medical Response Inc6.500% 10/01/20250.2%
CORGI BIDCO INC0.000% 09/20/20290.2%
BCPE Empire Holdings Inc7.625% 05/01/20270.2%
Penn Entertainment Inc5.625% 01/15/20270.2%
B&G Foods Inc5.250% 04/01/20250.2%
Bread Financial Holdings Inc7.000% 01/15/20260.1%
PennyMac Financial Services Inc5.375% 10/15/20250.1%
Hadrian Merger Sub Inc8.500% 05/01/20260.1%
Buckeye Partners LP6.375% 01/22/20780.1%
Iris Holding Inc10.000% 12/15/20280.1%
Post Holdings Inc5.750% 03/01/20270.1%
ZoomInfo Technologies LLC/ZoomInfo Finance Corp3.875% 02/01/20290.1%
Grinding Media Inc7.144% 10/12/20280.1%
LFS Topco LLC5.875% 10/15/20260.1%
Lindblad Expeditions LLC6.750% 02/15/20270.1%
Delek Logistics Partners LP / Delek Logistics Finance Corp7.125% 06/01/20280.1%
NCR Corp5.000% 10/01/20280.1%
Nabors Industries Inc9.000% 02/01/20250.1%
Cogent Communications Group Inc3.500% 05/01/20260.1%
Live Nation Entertainment Inc6.500% 05/15/20270.1%
Entegris Inc4.375% 04/15/20280.1%
Cinemark USA Inc5.250% 07/15/20280.1%
Buckeye Partners LP4.125% 03/01/20250.1%
AthenaHealth Group Inc6.576% 02/15/20290.1%
Cerevel Therapeutics Holdings Inc2.500% 08/15/20270.1%
Air Methods Corp8.000% 05/15/20250.1%
Specialty Building Products Holdings LLC / SBP Finance Corp6.375% 09/30/20260.1%
VUE INTERNATIONAL BIDCO PLC0.000% 07/03/20260.1%
VICI Properties LP / VICI Note Co Inc5.625% 05/01/20240.1%
Cheniere Energy Partners LP4.500% 10/01/20290.1%
AMC Entertainment Holdings Inc12.000% 06/15/20260.1%
Allegiant Travel Co7.250% 08/15/20270.1%
Sarepta Therapeutics Inc1.500% 11/15/20240.1%
Fluor Corp4.250% 09/15/20280.1%
USA Compression Partners LP / USA Compression Finance Corp6.875% 09/01/20270.1%
ASP Unifrax Holdings Inc5.250% 09/30/20280.1%
YPF Energia Electrica SA10.000% 07/25/20260.1%
DPL Inc4.350% 04/15/20290.1%
HUB International Ltd7.000% 05/01/20260.1%
Ingevity Corp3.875% 11/01/20280.1%
Trident TPI Holdings Inc9.250% 08/01/20240.1%
Murphy Oil Corp6.375% 07/15/20280.1%
Spirit AeroSystems Inc5.500% 01/15/20250.1%
Vistra Corp8.000% 04/15/21710.1%
Amneal Pharmaceuticals LLC6.625% 05/04/20250.1%
SEG Holding LLC / SEG Finance Corp5.625% 10/15/20280.1%
White Cap Buyer LLC6.875% 10/15/20280.1%
Sabre GLBL Inc9.250% 04/15/20250.1%
Gibson Brands Inc7.939% 08/11/20280.1%
NextEra Energy Operating Partners LP3.875% 10/15/20260.1%
Sylvamo Corp7.615% 09/13/20280.1%
Dave & Buster's Inc7.625% 11/01/20250.1%
Taseko Mines Ltd7.000% 02/15/20260.1%
American Airlines Group Inc3.750% 03/01/20250.1%
Global Atlantic Fin Co4.700% 10/15/20510.1%
1011778 BC ULC / New Red Finance Inc4.375% 01/15/20280.1%
VICI Properties LP / VICI Note Co Inc3.750% 02/15/20270.1%
EFS Cogen Holdings I LLC6.620% 10/01/20270.1%
Compass Minerals International Inc4.875% 07/15/20240.1%
Sabre GLBL Inc6.615% 12/17/20270.1%
Nabors Industries Inc5.750% 02/01/20250.1%
Venture Global Calcasieu Pass LLC3.875% 08/15/20290.1%
Titan International Inc7.000% 04/30/20280.1%
Sabre GLBL Inc8.134% 06/30/20280.1%
Coty Inc5.000% 04/15/20260.1%
NortonLifeLock Inc6.750% 09/30/20270.1%
Nexstar Media Inc4.750% 11/01/20280.1%
IRB Holding Corp7.000% 06/15/20250.1%
Bristow Group Inc6.875% 03/01/20280.1%
SRM Escrow Issuer LLC6.000% 11/01/20280.1%
Cinemark USA Inc5.875% 03/15/20260.1%
CPV Shore Holdings LLC6.870% 12/29/20250.1%
Kobe US Midco 2 Inc9.250% 11/01/20260.1%
Entegris Escrow Corp4.750% 04/15/20290.1%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.1%
Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp4.875% 04/01/20270.1%
Synovus Financial Corp0.000% -0.1%
Southwestern Energy Co5.375% 02/01/20290.1%
Citigroup Inc5.950% 07/30/21710.1%
Imola Merger Corp4.750% 05/15/20290.1%
Rite Aid Corp8.000% 11/15/20260.1%
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp7.750% 04/15/20250.1%
Liberty Media Corp-Liberty Formula One2.250% 08/15/20270.1%
Boyne USA Inc4.750% 05/15/20290.1%
BCPE Ulysses Intermediate Inc7.750% 04/01/20270.1%
SM Energy Co6.625% 01/15/20270.1%
National CineMedia LLC5.875% 04/15/20280.1%
Ken Garff Automotive LLC4.875% 09/15/20280.1%
Meritage Homes Corp5.125% 06/06/20270.1%
Weatherford International Ltd6.500% 09/15/20280.1%
Booz Allen Hamilton Inc4.000% 07/01/20290.1%
Texas Capital Bancshares Inc4.000% 05/06/20310.1%
SCIH Salt Holdings Inc4.875% 05/01/20280.1%
RIVERBED TECHNOLOGY INC2.000% 12/07/20260.1%
Maravai Intermediate Holdings LLC5.553% 10/19/20270.1%
Travel Leaders Group LLC7.115% 01/25/20240.1%
Tank Holding Corp8.784% 03/31/20280.1%
Carriage Purchaser Inc7.875% 10/15/20290.1%
Nabors Industries Inc7.375% 05/15/20270.1%
Sabre GLBL Inc6.615% 12/17/20270.1%
FX USD/EUR 12/220.000% 12/12/20220.1%
Service Corp International/US4.625% 12/15/20270.1%
Nathan's Famous Inc6.625% 11/01/20250.1%
Magenta Buyer LLC7.870% 07/27/20280.1%
OneMain Finance Corp4.000% 09/15/20300.1%
Ahern Rentals Inc7.375% 05/15/20230.1%
Clarios Global LP6.750% 05/15/20250.1%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.500% 03/01/20250.1%
Party City Holdings Inc8.750% 02/15/20260.1%
United States Steel Corp6.875% 03/01/20290.1%
GPS Hospitality Holding Co LLC / GPS Finco Inc7.000% 08/15/20280.1%
USIC Holdings Inc9.615% 05/14/20290.1%
Engineered Components & Systems LLC8.756% 08/02/20280.0%
Baffinland Iron Mines Corp / Baffinland Iron Mines LP8.750% 07/15/20260.0%
Great Wolf Trust 2019-WOLF4.152% 12/15/20360.0%
Bulldog Purchaser Inc6.884% 09/05/20250.0%
Vistra Operations Co LLC5.625% 02/15/20270.0%
Elwood Energy LLC8.159% 07/05/20260.0%
Sabre GLBL Inc7.375% 09/01/20250.0%
FX USD/GBP 12/220.000% 12/08/20220.0%
CNX Resources Corp7.250% 03/14/20270.0%
Party City Holdings Inc6.125% 08/15/20230.0%
CANOPY GROWTH CORPORATION11.248% 03/18/20260.0%
Party City Holdings Inc6.625% 08/01/20260.0%
KKR Industrial Portfolio Trust 2021-KDIP4.068% 12/15/20370.0%
KKR Industrial Portfolio Trust 2021-KDIP4.368% 12/15/20370.0%
KKR Industrial Portfolio Trust 2021-KDIP4.868% 12/15/20370.0%
VUE INTERNATIONAL BIDCO P L C0.000% 06/30/20270.0%
FirstEnergy Corp4.400% 07/15/20270.0%
PARKWAY GENERATION LLC7.865% 02/18/20290.0%
SCP Eye Care Services LLC7.615% 03/16/20280.0%
Icebox Holdco III Inc7.424% 12/22/20280.0%
Fly Leasing Ltd7.000% 10/15/20240.0%
Waste Pro USA Inc5.500% 02/15/20260.0%
FX EUR/USD 12/220.000% 12/12/20220.0%
Foundation Building Materials Inc4.489% 01/31/20280.0%
ESC GCB144A HERTZ CORP5.500% 10/15/20240.0%
FX GBP/USD 12/220.000% 12/08/20220.0%
FX USD/EUR 12/220.000% 12/12/20220.0%
ESC GCB HERTZ CORP6.250% 10/15/20220.0%
Icebox Holdco III Inc0.038% 12/22/20280.0%
FX GBP/USD 12/220.000% 12/08/20220.0%
AthenaHealth Group Inc0.035% 02/15/20290.0%
CPI Swap0.010% 09/30/20230.0%
FX GBP/USD 12/220.000% 12/08/20220.0%
CPI Swap0.010% 07/01/20230.0%
CPI Swap0.010% 06/01/20230.0%
CPI Swap0.010% 01/15/20240.0%
CPI Swap0.010% 10/03/2027-0.1%
US 2YR NOTE (CBT) Dec220.000% 01/05/2023-0.1%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 12/06/2022
$0.576
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2022 $0.05598 $9.61
Daily Daily 10/31/2022 $0.05271 $9.50
Daily Daily 09/30/2022 $0.05581 $9.33
Daily Daily 08/31/2022 $0.05473 $9.66
Daily Daily 07/31/2022 $0.05386 $9.83
Daily Daily 06/30/2022 $0.05197 $9.44
Daily Daily 05/31/2022 $0.05237 $10.06
Daily Daily 04/30/2022 $0.04969 $10.12
Daily Daily 03/31/2022 $0.05139 $10.38
Daily Daily 02/28/2022 $0.04842 $10.45
Daily Daily 01/31/2022 $0.04995 $10.56

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 12/31/2022

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/16/2021 12/17/2021 $0.0570 $0.0977 $0.1547 $10.70

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/19/2022 12/20/2022

Fees & Expenses

Fees & Expenses

Expense Ratioas of 11/30/2022

Fund Gross Expense Ratio Fund Net Expense Ratio
1.50% 0.51%

Expense ratio details, Click here.

Fund Documents

Fund Documents

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*"Barron's Best Fund Families of 2021", #4 ranking in the Taxable Bond category based on the net total return of the one-year period ending 12/31/2021, among 51 qualifying fund families. Ranking for the ten-year period ending 12/31/2021 is #2 out of 45 qualifying fund families.

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

Barron's Fund Family Rankings are awarded annually.

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

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

+

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

                    

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There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").
Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus. 

 

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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