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

Daily price w/o sales charge as of 04/21/2021

$10.98

$0.00

YTD Returns w/o sales charge as of 04/21/2021

2.49%

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 04/21/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 5.36% 2.12%

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

  Subsidized3 Un-Subsidized4
w/o sales charge 3.38% 2.16%

Fund Basicsas of 03/31/2021

Total Net Assets
$13.11 M
Inception Date
05/01/2020
Dividend Frequency
Monthly
Fund Gross Expense Ratio
3.75%
Fund Net Expense Ratio
0.51%
Number of Holdings
461

Fund Expense Ratio :

Gross 3.75%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 2.00% - - - - 16.34%
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 3.75%

Net 0.51%

Fund Expense Ratio :

Gross 3.75%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 2.00% - - - - 16.34%
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 3.75%

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

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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.

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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.

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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

Associate 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 04/21/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 5.36% 2.12%

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

  Subsidized3 Un-Subsidized4
w/o sales charge 3.38% 2.16%

Fund Expense Ratio :

Gross 3.75%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 2.00% - - - - 16.34%
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 3.75%

Net 0.51%

Fund Expense Ratio :

Gross 3.75%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 2.00% - - - - 16.34%
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 3.75%

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.

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

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

Credit Quality Distribution as of 03/31/2021

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

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% 07/20/20302.0%
Occidental Petroleum Corp2.900% 08/15/20241.8%
Sprint Corp7.625% 02/15/20251.7%
Voya CLO 2019-1 Ltd1.791% 04/15/20311.2%
Netflix Inc3.625% 06/15/20251.2%
Mclaren Finance PLC5.000% 08/01/20221.1%
Peach Property Finance GmbH4.375% 11/15/20251.0%
HCA Inc7.500% 12/15/20231.0%
Cogent Communications Group Inc4.375% 06/30/20241.0%
Inter Media and Communication SpA4.875% 12/31/20220.9%
AMMC CLO 15 Ltd3.641% 01/15/20320.8%
JP Morgan Chase Commercial Mortgage Securities Tru3.970% 03/15/20360.8%
Tenet Healthcare Corp4.625% 09/01/20240.8%
Freeport-McMoRan Inc4.550% 11/14/20240.7%
Caesars Entertainment Inc6.250% 07/01/20250.7%
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%
OneMain Finance Corp8.875% 06/01/20250.6%
Tesla Inc5.300% 08/15/20250.5%
OneMain Finance Corp8.250% 10/01/20230.5%
MGM Resorts International6.000% 03/15/20230.5%
Delta Air Lines Inc / SkyMiles IP Ltd4.500% 10/20/20250.5%
JPMorgan Chase & Co4.000% 12/31/20990.5%
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%
Oceaneering International Inc4.650% 11/15/20240.5%
TRI Pointe Group Inc / TRI Pointe Homes Inc5.875% 06/15/20240.4%
Navient Corp6.750% 06/25/20250.4%
American Airlines Inc11.750% 07/15/20250.4%
Royal Caribbean Cruises Ltd9.125% 06/15/20230.4%
Royal Caribbean Cruises Ltd11.500% 06/01/20250.4%
XPO Logistics Inc6.250% 05/01/20250.4%
Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd8.000% 09/20/20250.4%
CIT Group Inc5.000% 08/01/20230.4%
Hawaiian Brand Intellectual Property Ltd / Hawaiia5.750% 01/20/20260.4%
Apache Corp4.625% 11/15/20250.4%
Taylor Morrison Communities Inc / Taylor Morrison5.875% 04/15/20230.4%
WW International Inc8.625% 12/01/20250.4%
Murphy Oil Corp6.875% 08/15/20240.4%
Magnolia Oil & Gas Operating LLC / Magnolia Oil &6.000% 08/01/20260.4%
Centennial Resource Production LLC8.000% 06/01/20250.4%
Warrior Met Coal Inc8.000% 11/01/20240.4%
American Axle & Manufacturing Inc6.250% 04/01/20250.4%
General Electric Co3.520% 06/15/21990.4%
CSC Holdings LLC5.250% 06/01/20240.4%
Forterra Finance LLC / FRTA Finance Corp6.500% 07/15/20250.4%
STL Holding Co LLC7.500% 02/15/20260.3%
Vistra Operations Co LLC5.500% 09/01/20260.3%
Travel + Leisure Co5.650% 04/01/20240.3%
Fairstone Financial Inc7.875% 07/15/20240.3%
ChampionX Corp6.375% 05/01/20260.3%
Prime Security Services Borrower LLC / Prime Finan5.250% 04/15/20240.3%
Netflix Inc5.500% 02/15/20220.3%
Cheniere Energy Partners LP5.250% 10/01/20250.3%
Ball Corp5.250% 07/01/20250.3%
CSC Holdings, LLC (Cablevision)2.361% 07/17/20250.3%
VistaJet Malta Finance PLC / XO Management Holding10.500% 06/01/20240.3%
Hawaiian Airlines 2013-1 Class A Pass Through Cert3.900% 01/15/20260.3%
PDC Energy Inc6.125% 09/15/20240.3%
MGM Growth Properties Operating Partnership LP / M5.625% 05/01/20240.3%
Mattel Inc3.150% 03/15/20230.3%
Advisor Group, Inc.4.615% 07/31/20260.3%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.3%
EPR Properties5.250% 07/15/20230.3%
Park Intermediate Holdings LLC / PK Domestic Prope7.500% 06/01/20250.3%
Delta Air Lines Inc3.800% 04/19/20230.3%
Terraform Global Operating LLC6.125% 03/01/20260.3%
PTC Inc3.625% 02/15/20250.3%
TerraForm Power Operating LLC4.250% 01/31/20230.3%
Century Communities Inc5.875% 07/15/20250.3%
Buckeye Partners LP6.375% 01/22/20780.3%
L Brands Inc6.875% 07/01/20250.3%
Air Lease Corp4.650% 12/15/21990.3%
Seven Generations Energy Ltd5.375% 09/30/20250.3%
Brinker International Inc5.000% 10/01/20240.3%
New Home Co Inc/The7.250% 10/15/20250.3%
CDW LLC / CDW Finance Corp4.125% 05/01/20250.3%
Renaissance Holding Corp.3.365% 05/30/20250.3%
Calpine Corp5.250% 06/01/20260.3%
NEP/NCP Holdco Inc3.365% 10/05/20250.3%
Boyne USA Inc7.250% 05/01/20250.3%
Tanger Properties LP3.875% 12/01/20230.3%
RP Escrow Issuer LLC5.250% 12/15/20250.3%
American Airlines Group Inc5.000% 06/01/20220.3%
Trinity Industries Inc4.550% 10/01/20240.3%
CrownRock LP / CrownRock Finance Inc5.625% 10/15/20250.3%
Aircastle Ltd5.250% 08/11/20250.3%
Southwestern Energy Co6.450% 01/23/20250.3%
Ingevity Corp4.500% 02/01/20260.3%
DISH DBS Corp5.875% 07/15/20220.3%
RealReal Inc/The3.000% 06/15/20250.3%
Coeur Mining Inc5.875% 06/01/20240.3%
Herbalife Nutrition Ltd / HLF Financing Inc7.875% 09/01/20250.3%
Alliance Data Systems Corp4.750% 12/15/20240.3%
TripAdvisor Inc7.000% 07/15/20250.3%
Redfin Corp0.000% 10/15/20250.3%
Univision Communications Inc5.125% 02/15/20250.3%
Continental Resources Inc/OK3.800% 06/01/20240.3%
Synovus Financial Corp0.000% -0.3%
Laureate Education Inc8.250% 05/01/20250.2%
Callon Petroleum Co9.000% 04/01/20250.2%
Matador Resources Co5.875% 09/15/20260.2%
Twitter Inc0.250% 06/15/20240.2%
Petroleos Mexicanos4.875% 01/24/20220.2%
Core & Main Holdings LP8.625% 09/15/20240.2%
ADT Security Corp/The3.500% 07/15/20220.2%
Tenneco Inc5.000% 07/15/20260.2%
Citigroup Inc3.875% 05/18/21990.2%
Diamondback Energy Inc2.875% 12/01/20240.2%
Shift4 Payments LLC / Shift4 Payments Finance Sub4.625% 11/01/20260.2%
Endeavor Energy Resources LP / EER Finance Inc5.500% 01/30/20260.2%
VeriSign Inc5.250% 04/01/20250.2%
Colorado Buyer, Inc.8.314% 05/01/20250.2%
Buckeye Partners LP4.150% 07/01/20230.2%
Adient US LLC7.000% 05/15/20260.2%
American Airlines Group Inc3.750% 03/01/20250.2%
Kaiser Aluminum Corp6.500% 05/01/20250.2%
Caesars Resort Collection LLC / CRC Finco Inc5.250% 10/15/20250.2%
Sensata Technologies BV4.875% 10/15/20230.2%
Kuehg Corp4.750% 02/14/20250.2%
Ally Financial Inc5.750% 11/20/20250.2%
ESH Hospitality Inc5.250% 05/01/20250.2%
Clark Equipment Co5.875% 06/01/20250.2%
Starfruit US Holdco LLC3.111% 09/20/20250.2%
PGT Innovations Inc6.750% 08/01/20260.2%
PRA Group Inc7.375% 09/01/20250.2%
Tapestry Inc4.250% 04/01/20250.2%
Hillman Group Inc/The6.375% 07/15/20220.2%
Citigroup Inc5.950% 12/31/20990.2%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.2%
Sirius XM Radio Inc4.625% 07/15/20240.2%
EnerSys5.000% 04/30/20230.2%
Goodyear Tire & Rubber Co/The9.500% 05/31/20250.2%
LGI Homes Inc6.875% 07/15/20260.2%
DPL Inc4.125% 07/01/20250.2%
Travel Leaders Group, LLC4.115% 01/25/20240.2%
Outfront Media Capital LLC / Outfront Media Capita6.250% 06/15/20250.2%
Molina Healthcare Inc5.375% 11/15/20220.2%
Motion Finco LLc3.504% 10/17/20260.2%
Popular Inc6.125% 09/14/20230.2%
DISH DBS Corp5.875% 11/15/20240.2%
Great Wolf Trust 2019-WOLF2.045% 12/15/20360.2%
Precision Drilling Corp7.125% 01/15/20260.2%
Western Digital Corp1.500% 02/01/20240.2%
Expedia Group Inc6.250% 05/01/20250.2%
FMG Resources August 2006 Pty Ltd4.750% 05/15/20220.2%
Newell Brands Inc4.000% 06/15/20220.2%
Great Lakes Dredge & Dock Corp.8.000% 05/15/20220.2%
Service Properties Trust4.650% 03/15/20240.2%
Hill-Rom Holdings Inc5.000% 02/15/20250.2%
Topgolf International, Inc.7.379% 02/09/20260.2%
Grab Holdings Inc5.500% 01/14/20260.2%
Live Nation Entertainment Inc2.000% 02/15/20250.2%
Southwest Airlines Co1.250% 05/01/20250.2%
Quality Distribution, Inc.6.500% 08/18/20220.2%
Petco Animal Supplies, Inc.4.250% 01/26/20230.2%
Contura Energy Inc9.000% 06/14/20240.2%
Petrobras Global Finance BV5.299% 01/27/20250.2%
BCP Raptor II LLC4.865% 10/22/20250.2%
Forestar Group Inc8.000% 04/15/20240.2%
Heartland Dental, LLC3.615% 04/30/20250.2%
Penske Automotive Group Inc3.500% 09/01/20250.2%
Claros Mortgage Trust Inc.6.000% 08/05/20260.2%
Triumph Group Inc7.750% 08/15/20250.2%
Ovintiv Exploration Inc5.625% 07/01/20240.2%
Spring Education Group, Inc.4.504% 07/30/20250.2%
SM Energy Co5.625% 06/01/20250.2%
Diamond BC BV3.115% 09/06/20240.2%
NextEra Energy Operating Partners LP4.250% 09/15/20240.2%
Delta Air Lines Inc7.000% 05/01/20250.2%
AMC Networks Inc4.750% 08/01/20250.2%
Teva Pharmaceutical Finance Netherlands III BV2.800% 07/21/20230.2%
Global Medical Response Inc6.500% 10/01/20250.2%
Rite Aid Corp8.000% 11/15/20260.2%
United States Steel Corp12.000% 06/01/20250.2%
Nabors Industries Ltd7.250% 01/15/20260.2%
Cinemark USA, Inc.1.870% 03/31/20250.2%
Air Methods Corp8.000% 05/15/20250.2%
Pebblebrook Hotel Trust1.750% 12/15/20260.2%
Panera Bread Company2.375% 07/18/20220.2%
Fair Isaac Corp5.250% 05/15/20260.2%
FXI Holdings Inc7.875% 11/01/20240.2%
Cleveland-Cliffs Inc9.875% 10/17/20250.2%
Optiv Sec, Inc.4.931% 02/01/20240.2%
Mack-Cali Realty LP4.500% 04/18/20220.2%
Buena Vista Gaming Authority13.000% 04/01/20230.2%
NCL Corp Ltd3.625% 12/15/20240.2%
Range Resources Corp5.000% 03/15/20230.2%
Credit Acceptance Corp5.125% 12/31/20240.2%
Norbord Inc6.250% 04/15/20230.2%
Elwood Energy LLC8.159% 07/05/20260.2%
JetBlue Airways Corp6.250% 06/12/20240.2%
Wolverine Escrow LLC8.500% 11/15/20240.2%
Helix Gen Funding, LLC4.750% 06/03/20240.2%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.2%
Navitas Midstream Midland Basin, LLC5.500% 12/13/20240.2%
Guidehouse LLP4.115% 05/01/20250.2%
Enterprise Development Authority/The12.000% 07/15/20240.2%
Avis Budget Car Rental LLC / Avis Budget Finance,5.250% 03/15/20250.2%
Carnival Corp7.625% 03/01/20260.2%
Tronox Finance PLC5.750% 10/01/20250.2%
Cinemark USA Inc5.125% 12/15/20220.2%
Brookfield Residential Properties, Inc. / Brookfie6.375% 05/15/20250.2%
CITGO Petroleum Corp7.000% 06/15/20250.2%
Wabash National Corp5.500% 10/01/20250.2%
NCL Corp Ltd12.250% 05/15/20240.2%
NEXSTAR BROADCASTING GROUP2.365% 01/17/20240.2%
Seven Generations Energy Ltd6.750% 05/01/20230.2%
JB Poindexter & Co Inc7.125% 04/15/20260.2%
Snap Inc0.750% 08/01/20260.2%
Life Time Inc5.750% 01/15/20260.2%
Clearway Energy Operating LLC5.750% 10/15/20250.2%
HD Supply Inc.3.750% 08/01/20240.2%
XPO Logistics Inc6.750% 08/15/20240.2%
Brand Energy & Infrastructure Services, Inc. (fka5.250% 06/21/20240.2%
Landry's Restaurants Inc.4.595% 10/04/20230.2%
Mohegan Gaming & Entertainment8.000% 02/01/20260.2%
EmployBridge, LLC5.500% 04/18/20250.2%
SunPower Corp4.000% 01/15/20230.2%
Chassix Inc6.113% 11/10/20230.2%
Playtika Holding Corp7.000% 12/03/20240.2%
Itron Inc5.000% 01/15/20260.2%
Hillenbrand Inc5.750% 06/15/20250.2%
Boyd Corporation3.615% 09/06/20250.2%
Meritage Homes Corp6.000% 06/01/20250.2%
United PF Holdings LLC4.254% 12/30/20260.2%
ACProducts Inc7.500% 08/13/20250.2%
New Fortress Energy Inc6.750% 09/15/20250.2%
Laredo Petroleum Inc9.500% 01/15/20250.2%
Akumin Inc7.000% 11/01/20250.2%
Penn National Gaming, Inc.3.385% 10/15/20250.2%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.2%
Gap Inc/The8.875% 05/15/20270.2%
Specialty Building Products Holdings LLC / SBP Fin6.375% 09/30/20260.2%
Container Store5.750% 01/20/20260.2%
Northriver Midstream Finance LP5.625% 02/15/20260.2%
Enviva Partners LP / Enviva Partners Finance Corp6.500% 01/15/20260.2%
US Renal Care Inc.5.125% 06/13/20260.2%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.1%
Legends Hospitality Holding Co LLC / Legends Hospi5.000% 02/01/20260.1%
PetVet Care Centers, LLC2.865% 02/14/20250.1%
Veritas US Inc / Veritas Bermuda Ltd7.500% 09/01/20250.1%
Performance Food Group Inc5.500% 06/01/20240.1%
Booking Holdings Inc0.750% 05/01/20250.1%
Guitar Center Inc8.500% 01/15/20260.1%
PennyMac Financial Services Inc5.375% 10/15/20250.1%
California Resources Corp7.125% 02/01/20260.1%
SM Energy Co6.125% 11/15/20220.1%
Hertz Corp/The5.500% 10/15/20240.1%
Fastlane Parent Company, Inc.4.615% 12/19/20250.1%
Weibo Corp1.250% 11/15/20220.1%
INTRAWEST RESORTS HLDGS INC2.865% 07/31/20240.1%
Boyd Gaming Corporation2.340% 09/15/20230.1%
Texas Capital Bancshares Inc0.000% -0.1%
Shopify Inc0.125% 11/01/20250.1%
ASP Unifrax Holdings Inc4.004% 11/05/20250.1%
Compass Minerals International, Inc.4.875% 07/15/20240.1%
Veoneer Inc4.000% 06/01/20240.1%
GameStop Corp6.750% 03/15/20210.1%
Scientific Games International, Inc.8.625% 07/01/20250.1%
Liftoff Mobile Inc0.000% 02/17/20280.1%
WPX Energy Inc8.250% 08/01/20230.1%
Anastasia Beverly Hills4.004% 08/11/20250.1%
Nordstrom Inc4.000% 03/15/20270.1%
Gap Inc/The8.625% 05/15/20250.1%
SSL Robotics LLC9.750% 12/31/20230.1%
Avolon Holdings Funding Ltd4.250% 04/15/20260.1%
Deliver Buyer, Inc. (aka MHS Holdings, Inc.)5.254% 05/01/20240.1%
Granite Holdings US Acquisition4.169% 09/30/20260.1%
Chefs' Warehouse Inc/The1.875% 12/01/20240.1%
Sally Holdings LLC / Sally Capital, Inc.8.750% 04/30/20250.1%
GCP Applied Technologies Inc5.500% 04/15/20260.1%
Boyd Gaming Corp8.625% 06/01/20250.1%
Ccs-Cmgc Holdings Inc5.615% 10/01/20250.1%
Turning Point Brands Inc2.500% 07/15/20240.1%
Avolon Holdings Funding Ltd5.500% 01/15/20260.1%
Sunrun Inc0.000% 02/01/20260.1%
Microchip Technology Inc1.625% 02/15/20250.1%
Great Wolf Trust 2019-WOLF2.844% 12/15/20360.1%
Transocean Guardian Ltd5.875% 01/15/20240.1%
Elanco Animal Health Inc5.272% 08/28/20230.1%
Allegheny Technologies Inc7.875% 08/15/20230.1%
Clarios Global LP6.750% 05/15/20250.1%
Fluor Corp3.500% 12/15/20240.1%
Intertape Polymer Group Inc7.000% 10/15/20260.1%
ModivCare Inc5.875% 11/15/20250.1%
Atlantic Aviation FBO Inc.3.870% 11/30/20250.1%
BEP Ulterra Holdings Inc.5.365% 11/26/20250.1%
Associated Asphalt Partners, LLC6.911% 04/05/20240.1%
Select Medical Corp6.250% 08/15/20260.1%
JP Morgan Chase Commercial Mortgage Securities Tru1.412% 06/15/20320.1%
Fresh Market Inc/The9.750% 05/01/20230.1%
ASURION LLC3.163% 11/03/20240.1%
Ball Corp5.000% 03/15/20220.1%
Navistar International Corp6.625% 11/01/20250.1%
Sabre GLBL Inc7.375% 09/01/20250.1%
HLF Financing Sarl LLC / Herbalife International I7.250% 08/15/20260.1%
Melissa & Doug5.435% 06/19/20240.1%
MEG Energy Corp6.500% 01/15/20250.1%
Silgan Holdings Inc4.750% 03/15/20250.1%
Ritchie Bros Auctioneers Inc5.375% 01/15/20250.1%
PetSmart Inc7.125% 03/15/20230.1%
United Airlines 2020-1 Class A Pass Through Trust5.875% 10/15/20270.1%
Hunt Cos Inc6.250% 02/15/20260.1%
VeriSign Inc4.625% 05/01/20230.1%
Hudbay Minerals Inc4.500% 04/01/20260.1%
Coty Inc6.500% 04/15/20260.1%
CCM Merger Inc6.375% 05/01/20260.1%
Scorpio Tankers Inc3.000% 05/15/20220.1%
Brazos Delaware II, LLC4.111% 05/21/20250.1%
Astoria Energy LLC4.500% 12/03/20270.1%
Great Wolf Trust 2019-WOLF1.446% 12/15/20360.1%
Bulldog Purchaser Inc.5.446% 08/22/20250.1%
CWGS Group, LLC (aka Camping World, Inc.)4.695% 11/08/20230.1%
Banijay Group US Holding3.874% 02/04/20250.1%
Bob's Discount Furniture, LLC6.250% 08/08/20230.1%
Carvana Co5.625% 10/01/20250.1%
Aramark Intermediate HoldCo Corporation1.865% 03/11/20250.1%
Novelis Corp5.875% 09/30/20260.1%
Tronox Inc6.500% 04/15/20260.1%
EyeCare Partners LLC3.865% 02/05/20270.1%
IIP Operating Partnership LP3.750% 02/21/20240.1%
Robertshaw US Holding Corp. (fka Fox US Bidco Corp5.189% 02/28/20250.1%
TopBuild Corp5.625% 05/01/20260.1%
WP CityMD Bidco LLC4.500% 08/13/20260.1%
Spectacle Gary Holding11.000% 10/17/20240.1%
Ingles Markets Inc5.750% 06/15/20230.1%
BCPE Ulysses Intermediate Inc7.750% 04/01/20270.1%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp4.250% 05/30/20230.1%
Ally Financial Inc3.875% 05/21/20240.1%
American Airlines Group Inc6.500% 07/01/20250.1%
Range Resources Corp4.875% 05/15/20250.1%
Picasso Finance Sub Inc6.125% 06/15/20250.1%
WOW! (Wide Open West)4.250% 08/18/20230.1%
AI Aqua Merger Sub, Inc.5.064% 12/13/20230.1%
CIT Group Inc3.929% 06/19/20240.1%
Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp.5.875% 05/15/20250.1%
Caesars Resort Collection LLC / CRC Finco Inc5.750% 07/01/20250.1%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.1%
ADT Security Corp/The4.125% 06/15/20230.1%
Lennar Corp4.750% 05/30/20250.1%
Turning Point Brands Inc5.625% 02/15/20260.1%
Newell Brands Inc4.875% 06/01/20250.1%
Antero Midstream Partners LP / Antero Midstream Fi7.875% 05/15/20260.1%
Drive Chassis Holdco LLC8.484% 04/10/20260.1%
Taylor Morrison Communities Inc / Taylor Morrison5.625% 03/01/20240.1%
VICI Properties LP / VICI Note Co Inc3.500% 02/15/20250.1%
Uber Technologies Inc7.500% 05/15/20250.1%
FMG Resources August 2006 Pty Ltd5.125% 05/15/20240.1%
Canopy Growth Corp4.250% 07/15/20230.1%
WEX Inc4.750% 02/01/20230.1%
Vail Resorts Inc6.250% 05/15/20250.1%
Ahern Rentals Inc7.375% 05/15/20230.1%
Avient Corp5.750% 05/15/20250.1%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.1%
World Wrestling Entertainment Inc3.375% 12/15/20230.1%
Avis Budget Car Rental LLC / Avis Budget Finance,6.375% 04/01/20240.1%
Buckeye Partners LP4.125% 03/01/20250.1%
Talen Energy Supply LLC6.500% 06/01/20250.1%
Centennial Resource Production LLC5.375% 01/15/20260.1%
fuboTV Inc3.250% 02/15/20260.1%
AMC Entertainment Holdings4.500% 03/20/20260.1%
Royal Caribbean Cruises Ltd4.250% 06/15/20230.1%
Petroleos Mexicanos3.500% 01/30/20230.1%
Peak 10 Holding Corporation3.754% 08/01/20240.1%
Duravant4.000% 07/19/20240.1%
Capitol Investment Merger Sub 2 LLC10.000% 08/01/20240.1%
MGM Resorts International6.750% 05/01/20250.1%
Imperva Inc5.000% 11/20/20250.1%
Resolute Forest Products Inc4.875% 03/01/20260.1%
Leslies Poolmart, Inc.5.250% 08/09/20230.1%
Miller's Ale House, Inc.4.868% 05/30/20250.1%
AMC Entertainment Holdings Inc12.000% 06/15/20260.1%
Jeld Wen, Inc.2.115% 12/14/20240.1%
Transocean Proteus Ltd6.250% 12/01/20240.1%
White Cap Parent LLC8.250% 03/15/20260.1%
EQT Corp7.625% 02/01/20250.1%
WP CPP Holdings, LLC4.750% 04/30/20250.1%
Arcor SAIC6.000% 07/06/20230.1%
Berry Petroleum Co LLC7.000% 02/15/20260.1%
TechnipFMC PLC6.500% 02/01/20260.1%
Patrick Industries Inc1.000% 02/01/20230.1%
Western Midstream Operating LP4.000% 07/01/20220.1%
Transocean Sentry Ltd5.375% 05/15/20230.1%
Hayward Acquisition Corp.4.804% 08/05/20240.1%
GLP Capital LP / GLP Financing II Inc5.375% 11/01/20230.1%
Caleres Inc6.250% 08/15/20230.1%
Sealed Air Corp5.125% 12/01/20240.1%
Dick's Sporting Goods Inc3.250% 04/15/20250.1%
Meritor Inc6.250% 06/01/20250.1%
Cyxtera DC Holdings, Inc. (fka Colorado Buyer Inc.)0.000% 05/01/20240.1%
Comstock Resources Inc7.500% 05/15/20250.1%
Diamond Sports Group LLC / Diamond Sports Finance5.375% 08/15/20260.1%
Rattler Midstream LP5.625% 07/15/20250.1%
Diamond Sports Group LLC / Diamond Sports Finance6.625% 08/15/20270.1%
Cedar Fair LP / Canada's Wonderland Co / Magnum Ma5.375% 06/01/20240.1%
TGP Holding III LLC(Traeger Pellet Grill Hdg LLC)6.007% 09/25/20240.1%
KKR Industrial Portfolio Trust 2021-KDIP1.662% 12/15/20370.1%
KKR Industrial Portfolio Trust 2021-KDIP2.162% 12/15/20370.1%
KKR Industrial Portfolio Trust 2021-KDIP1.362% 12/15/20370.1%
Team Health Holdings Inc6.375% 02/01/20250.1%
PHH Mortgage Corp7.875% 03/15/20260.1%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.1%
APX Group Inc7.625% 09/01/20230.1%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.1%
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%
Hadrian Merger Sub Inc8.500% 05/01/20260.1%
Sonic Automotive Inc6.125% 03/15/20270.1%
IRB Holding Corp6.750% 02/15/20260.1%
Simmons Foods Inc7.750% 01/15/20240.1%
Clear Channel Worldwide Holdings, Inc.9.250% 02/15/20240.1%
US Acute Care Solutions LLC6.375% 03/01/20260.1%
Playa Resorts Holding B.V.3.750% 04/29/20240.1%
Ultimate Software Group Inc3.865% 05/04/20260.1%
Equinox Holdings Inc.4.947% 03/08/20240.1%
Sensata Technologies BV5.625% 11/01/20240.1%
OneMain Finance Corp4.000% 09/15/20300.1%
MGM Growth Properties Operating Partnership LP / M4.625% 06/15/20250.1%
Mattel Inc6.750% 12/31/20250.1%
Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.1%
Barracuda Networks, Inc.5.144% 02/12/20250.1%
Continental Resources Inc/OK5.000% 09/15/20220.1%
Blue Racer Midstream LLC / Blue Racer Finance Corp7.625% 12/15/20250.1%
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%
Brundage-Bone Concrete Pumping Holdings Inc6.000% 02/01/20260.1%
Tms International Holding Corp7.250% 08/15/20250.1%
Energy Acquisition LP (aka Electrical Components International)4.365% 06/26/20250.1%
Caesars Entertainment Inc8.125% 07/01/20270.1%
CD&R Smokey Buyer Inc6.750% 07/15/20250.1%
BCD Acquisition Inc9.625% 09/15/20230.1%
Trident TPI Holdings Inc9.250% 08/01/20240.1%
New Gold Inc6.375% 05/15/20250.1%
Rayonier AM Products Inc7.625% 01/15/20260.0%
Party City Holdings Inc8.750% 02/15/20260.0%
Aviation Capital Group LLC1.950% 01/30/20260.0%
PetVet Care Centers, LLC4.250% 02/14/20250.0%
IRB Holding Corp7.000% 06/15/20250.0%
GameStop Corp6.750% 03/15/20210.0%
ServiceNow Inc0.000% 06/01/20220.0%
Hertz Corp/The6.000% 01/15/20280.0%
Motion Finco LLc3.504% 10/17/20260.0%
Precision Drilling Corp7.750% 12/15/20230.0%
Precision Drilling Corp5.250% 11/15/20240.0%
Hertz Corp/The0.000% 10/15/20220.0%
PetVet Care Centers, LLC3.685% 02/14/20250.0%
FX USD/EUR 03/210.000% 03/04/20210.0%
Spectacle Gary Holding11.000% 11/07/20250.0%
US 10YR NOTE (CBT)JUN210.000% 06/30/20210.0%
FX USD/CAD 04/210.000% 04/20/20210.0%
FX USD/EUR 03/210.000% 03/04/20210.0%
FX USD/GBP 03/210.000% 03/08/20210.0%

Fees & Expenses

Fees & Expenses

Expense Ratioas of 03/31/2021

Fund Gross Expense Ratio Fund Net Expense Ratio
3.75% 0.51%

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Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Annual Report
Publish Date:11/03/2015
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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.

+

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.      

                    

+

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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