LSYAX | Short Duration High Yield Fund Class A | Lord Abbett

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Short Duration High Yield Fund

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Daily price w/o sales charge as of 11/29/2023

$9.66

arrowUp$0.04

YTD Returns w/o sales charge as of 11/29/2023

9.01%

Overall Morningstar Ratings

High Yield Bond
as of 10/31/2023

Morningstar rated the Lord Abbett Short Duration High Yield Fund class A share 4 stars among 632 High Yield Bond Funds for the overall rating and the 3 year periods ended 10/31/2023, respectively.

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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

Average Yield to Maturity as of 10/31/2023

9.44%

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

  Subsidized2 Un-Subsidized3
w/o sales charge 8.23% 8.22%

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

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

Fund Basicsas of 10/31/2023

Total Net Assets
$1.77 B
Inception Date
05/01/2020
Dividend Frequency
Monthly
Fund Gross Expense Ratio
1.60%
Fund Net Expense Ratio
0.65%
Number of Holdings
667
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 1.60%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 5.29% 6.72% 3.12% - - 5.17%
Lipper Category Avg. Short High Yield Funds 4.94% 6.16% 2.81% - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD Index 4.95% 6.20% 2.80% - - 4.93%
w/ sales charge 2.91% 4.31% 2.35% - - 4.49%

Fund Expense Ratio :

Gross 1.60%

Net 0.65%

Fund Expense Ratio :

Gross 1.60%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 6.11% 10.10% 3.60% - - 5.54%
Lipper Category Avg. Short High Yield Funds 5.54% 8.69% 3.05% - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD Index 5.66% 9.63% 3.17% - - 5.26%
w/ sales charge 3.71% 7.68% 2.82% - - 4.84%

Fund Expense Ratio :

Gross 1.60%

Net 0.65%

Returns with sales charges reflect a maximum sales charge of 2.25%.

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.

INVESTMENT TEAM

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

22 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Partner, Deputy Director of Leveraged Credit

15 Years of Industry Experience

Karen J. Gunnerson
Karen J. Gunnerson

Portfolio Manager

13 Years of Industry Experience

Supported By 79 Investment Professionals with 17 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Maturity as of 10/31/2023

9.44%

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

  Subsidized2 Un-Subsidized3
w/o sales charge 8.23% 8.22%

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

Fund Expense Ratio :

Gross 1.60%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 5.29% 6.72% 3.12% - - 5.17%
Lipper Category Avg. Short High Yield Funds 4.94% 6.16% 2.81% - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD Index 4.95% 6.20% 2.80% - - 4.93%
w/ sales charge 2.91% 4.31% 2.35% - - 4.49%

Fund Expense Ratio :

Gross 1.60%

Net 0.65%

Fund Expense Ratio :

Gross 1.60%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 6.11% 10.10% 3.60% - - 5.54%
Lipper Category Avg. Short High Yield Funds 5.54% 8.69% 3.05% - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD Index 5.66% 9.63% 3.17% - - 5.26%
w/ sales charge 3.71% 7.68% 2.82% - - 4.84%

Fund Expense Ratio :

Gross 1.60%

Net 0.65%

Returns with sales charges reflect a maximum sales charge of 2.25%.

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
2022 -5.76% -5.39%
2021 5.53% 4.87%
2020 13.93% 3.85%
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 2.66% 1.96% 1.37% - 9.01%
2022 -2.10% -7.68% 0.48% 3.77% -5.76%
2021 1.94% 2.01% 0.71% 0.76% 5.53%
2020 - - 4.02% 5.36% 13.93%

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

Growth of $10,000 as of 10/31/2023

The chart begins on the Fund's inception date of 04/30/2020.

Based on a hypothetical Class A share investment of $10,000 on 04/30/2020 without sales charge and includes the reinvestment of all distributions.

 

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Corporate
Bank Loans
Investment Grade Corporate
MBS
CLO
ABS
Sovereign
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 10/31/2023

Rating Assets
Agency
AAA
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 Positioningas of 9/30/2023

  • The Fund continued to focus on investing in securities with higher carry. High yield spreads have grinded tighter throughout the year, finishing slightly above 400 bps in September, which has helped offset the effects of rising bond yields in the asset class. However, with declining recessionary concerns helping to compress spreads to relatively tight levels, our primary focus has shifted towards identifying higher carry opportunities within the high yield universe. We continue to see value in the new issue high yield market as a strong source of carry given higher coupons and continue to actively participate in select primary issues. We increased the Fund’s Single-B credit exposure, which we view as offering attractive yields as macroeconomic data in the U.S. has been mostly positive, as well as added more opportunistically to select CCC securities. We used positions in BBs as a source of funds for these trades, targeting bonds with low coupons and relatively tight valuations.
  • We remain constructive on the Energy and Basic Industry sectors. We continue to view Energy as a much more defensive sector than in prior periods given healthy balance sheets, reduced capital spending, and an increased focus on free cash flow. Within Basic Industry, we continue to be constructive in the Metals/Mining, Chemicals, and Steel subsectors due to relatively resilient commodity prices. We believe these issuers have better upside potential given the recent outperformance of cyclical parts of the high yield space. While the Fund maintained an underweight in sectors like Media, we selectively covered this underweight as performance improved, and recession outlooks moderated.
  • The Fund maintained a modest allocation to out-of-index sectors. While the Fund primarily invests in high yield securities, the Fund has the flexibility to opportunistically invest in bank loans and other off benchmark sectors that we believe can offer attractive risk-reward opportunities, potential portfolio diversification benefits, and avenues for liquidity. Given the team’s focus on carry, the Fund maintained an allocation to bank loans, an asset class we view as an attractive source of income coupled with limited duration.
  • We believe that high yield bonds continue to provide investors an opportunity to capture attractive carry despite the continued rise in interest rates and their potential effects on credit metrics. High yield bonds have performed well throughout 2023, and we maintain a broadly constructive outlook on the asset class due to several reasons. U.S. high yield issuers overall continue to boast much stronger balance sheets in aggregate than at the start of prior slowdowns. For example, leverage is close to its lowest level in the post financial crisis period, and interest coverage metrics are only slightly below record highs. This high yield index also remains around its highest quality in recent years, with almost 50% of the index rated BB. The asset class also has meaningful runway with respect to maturities with only 13% of the market set to mature through 2025, with issuers having reduced this amount relative to start of year levels through proactive refinancing. Additionally, starting yields for the high yield index are well above 8%, which has historically translated into strong forward returns across market environments. While we continue to monitor for signs of rising credit stress in the sector, resiliency, economic momentum, and the credit trends noted above leave us comfortable with our current exposures across the ratings spectrum.

PORTFOLIO DETAILS as of 10/31/2023

Total Net Assets
$1.77 B
Average Effective Duration
2.3 Years
Average Maturity
3.87 Years
Number of Issues
667
Average Yield to Maturity
9.44%

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

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

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 Credit Co LLC 7.350% 11/04/2027 0.8%
Carnival Corp 5.750% 03/01/2027 0.8%
CCO Holdings LLC / CCO Holdings Capital Corp 6.375% 09/01/2029 0.8%
CCO Holdings LLC / CCO Holdings Capital Corp 5.125% 05/01/2027 0.7%
Carnival Corp 7.625% 03/01/2026 0.7%
Vital Energy Inc 10.125% 01/15/2028 0.6%
Royal Caribbean Cruises Ltd 11.625% 08/15/2027 0.6%
Civitas Resources Inc 8.375% 07/01/2028 0.6%
OneMain Finance Corp 7.125% 03/15/2026 0.5%
Xerox Holdings Corp 5.000% 08/15/2025 0.5%
% of Total Assets 6.6%
Holding Coupon Maturity Assets
TORONTO DOMINION BANK THE0.010% 10/02/20231.7%
Ford Motor Credit Co LLC7.350% 11/04/20270.9%
Carnival Corp7.625% 03/01/20260.8%
Carnival Corp5.750% 03/01/20270.7%
CCO Holdings LLC / CCO Holdings Capital Corp6.375% 09/01/20290.7%
CCO Holdings LLC / CCO Holdings Capital Corp5.125% 05/01/20270.6%
Royal Caribbean Cruises Ltd11.625% 08/15/20270.6%
DISH Network Corp11.750% 11/15/20270.6%
Venture Global LNG Inc8.125% 06/01/20280.5%
Vital Energy Inc10.125% 01/15/20280.5%
Xerox Holdings Corp5.000% 08/15/20250.5%
Vermilion Energy Inc5.625% 03/15/20250.5%
Sirius XM Radio Inc5.000% 08/01/20270.5%
Mauser Packaging Solutions Holding Co7.875% 08/15/20260.5%
Earthstone Energy Holdings LLC8.000% 04/15/20270.5%
W&T Offshore Inc11.750% 02/01/20260.4%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.4%
Baytex Energy Corp8.750% 04/01/20270.4%
Bombardier Inc7.875% 04/15/20270.4%
Berry Petroleum Co LLC7.000% 02/15/20260.4%
Crescent Energy Finance LLC9.250% 02/15/20280.4%
Matador Resources Co5.875% 09/15/20260.4%
Nexstar Media Inc5.625% 07/15/20270.4%
CHS/Community Health Systems Inc8.000% 03/15/20260.4%
Cinemark USA Inc5.875% 03/15/20260.4%
Ford Credit Canada Co7.375% 05/12/20260.4%
Air Canada3.875% 08/15/20260.4%
Allied Universal Holdco LLC / Allied Universal Finance Corp6.625% 07/15/20260.4%
Hilcorp Energy I LP / Hilcorp Finance Co6.250% 11/01/20280.4%
Ascent Resources Utica Holdings LLC / ARU Finance Corp7.000% 11/01/20260.4%
JPMorgan Chase & Co4.000% 10/01/21720.4%
Royal Caribbean Cruises Ltd4.250% 07/01/20260.4%
Gray Television Inc7.000% 05/15/20270.4%
SM Energy Co6.625% 01/15/20270.4%
Caesars Entertainment Inc8.125% 07/01/20270.4%
JB Poindexter & Co Inc7.125% 04/15/20260.4%
American Airlines Inc7.250% 02/15/20280.4%
CCM Merger Inc6.375% 05/01/20260.4%
Caesars Entertainment Inc6.250% 07/01/20250.4%
Ford Motor Credit Co LLC3.375% 11/13/20250.4%
Civitas Resources Inc8.375% 07/01/20280.4%
Comstock Resources Inc6.750% 03/01/20290.4%
Tenet Healthcare Corp6.125% 10/01/20280.3%
Legacy LifePoint Health LLC4.375% 02/15/20270.3%
Baffinland Iron Mines Corp / Baffinland Iron Mines LP8.750% 07/15/20260.3%
Avolon Holdings Funding Ltd5.500% 01/15/20260.3%
Enerflex Ltd9.000% 10/15/20270.3%
HAT Holdings I LLC / HAT Holdings II LLC6.000% 04/15/20250.3%
CNX Resources Corp7.250% 03/14/20270.3%
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp6.000% 03/01/20270.3%
Nine Energy Service Inc13.000% 02/01/20280.3%
OneMain Finance Corp7.125% 03/15/20260.3%
Frontier Communications Holdings LLC5.000% 05/01/20280.3%
Alta Equipment Group Inc5.625% 04/15/20260.3%
Bain Capital Credit CLO 2023-3 Ltd10.621% 07/24/20360.3%
Navient Corp6.750% 06/15/20260.3%
Outfront Media Capital LLC / Outfront Media Capital Corp6.250% 06/15/20250.3%
Osaic Holdings Inc10.750% 08/01/20270.3%
TEGNA Inc4.625% 03/15/20280.3%
Connect Finco SARL / Connect US Finco LLC6.750% 10/01/20260.3%
Gulfport Energy Corp8.000% 05/17/20260.3%
Calderys Financing LLC11.250% 06/01/20280.3%
Fortress Transportation and Infrastructure Investors LLC6.500% 10/01/20250.3%
Cloud Software Group Inc6.500% 03/31/20290.3%
NRG Energy Inc6.625% 01/15/20270.3%
Lumen Technologies Inc4.000% 02/15/20270.3%
Atrium IX7.647% 05/28/20300.3%
Chord Energy Corp6.375% 06/01/20260.3%
American Airlines Inc11.750% 07/15/20250.3%
Ford Motor Credit Co LLC5.584% 03/18/20240.3%
Eco Material Technologies Inc7.875% 01/31/20270.3%
CSC Holdings LLC11.250% 05/15/20280.3%
Maxim Crane Works Holdings Capital LLC11.500% 09/01/20280.3%
EquipmentShare.com Inc9.000% 05/15/20280.3%
Red Planet Borrower LLC9.068% 10/02/20280.3%
Service Properties Trust7.500% 09/15/20250.3%
Inter Media and Communication SpA6.750% 02/09/20270.3%
PennyMac Financial Services Inc5.375% 10/15/20250.3%
CITGO Petroleum Corp7.000% 06/15/20250.3%
Vistra Operations Co LLC5.625% 02/15/20270.3%
Callon Petroleum Co8.000% 08/01/20280.3%
USA Compression Partners LP / USA Compression Finance Corp6.875% 04/01/20260.3%
McAfee Corp9.180% 03/01/20290.3%
Altice France SA/France0.000% 07/31/20250.3%
Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd5.750% 01/20/20260.3%
Allied Universal Holdco LLC / Allied Universal Finance Corp9.750% 07/15/20270.3%
CHS/Community Health Systems Inc8.000% 12/15/20270.3%
NMG Holding Co Inc / Neiman Marcus Group LLC7.125% 04/01/20260.3%
Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp6.000% 08/01/20260.3%
LCPR Senior Secured Financing DAC6.750% 10/15/20270.3%
LABL Inc9.500% 11/01/20280.3%
Rad CLO 20 Ltd8.391% 07/20/20360.3%
Millennium Escrow Corp6.625% 08/01/20260.3%
CITGO Petroleum Corp6.375% 06/15/20260.3%
Vistra Corp7.000% 06/15/21720.3%
Bausch & Lomb Escrow Corp8.375% 10/01/20280.3%
Life Time Inc5.750% 01/15/20260.3%
Kosmos Energy Ltd7.125% 04/04/20260.3%
Smyrna Ready Mix Concrete LLC6.000% 11/01/20280.3%
Petroleos Mexicanos6.490% 01/23/20270.2%
United Airlines Inc4.625% 04/15/20290.2%
AA Bond Co Ltd6.500% 01/31/20260.2%
Calpine Corp5.125% 03/15/20280.2%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.2%
Newell Brands Inc4.875% 06/01/20250.2%
Permian Resources Operating LLC7.750% 02/15/20260.2%
Patrick Industries Inc7.500% 10/15/20270.2%
Frontier Communications Holdings LLC9.181% 10/08/20270.2%
American Axle & Manufacturing Inc6.500% 04/01/20270.2%
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp5.250% 10/01/20250.2%
United Group BV7.031% 02/15/20260.2%
Rockcliff Energy II LLC5.500% 10/15/20290.2%
TransDigm Inc5.500% 11/15/20270.2%
Royal Caribbean Cruises Ltd8.250% 01/15/20290.2%
WASH Multifamily Acquisition Inc5.750% 04/15/20260.2%
LBM Acquisition LLC9.068% 12/17/20270.2%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.2%
EQM Midstream Partners LP7.500% 06/01/20270.2%
Husky III Holding Ltd13.000% 02/15/20250.2%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.2%
Altice France SA/France2.500% 01/15/20250.2%
Enviri Corp5.750% 07/31/20270.2%
Select Medical Corp6.250% 08/15/20260.2%
Freedom Mortgage Corp8.125% 11/15/20240.2%
Novafives SAS8.345% 06/15/20250.2%
Univision Communications Inc6.625% 06/01/20270.2%
Dryden 61 Clo Ltd7.320% 01/17/20320.2%
AMC Entertainment Holdings Inc8.448% 04/22/20260.2%
SPX FLOW Inc9.916% 04/05/20290.2%
Helix Gen Funding LLC10.061% 12/31/20270.2%
Iliad Holding SASU6.500% 10/15/20260.2%
Northriver Midstream Finance LP5.625% 02/15/20260.2%
G-III Apparel Group Ltd7.875% 08/15/20250.2%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.2%
Rain Carbon Inc12.250% 09/01/20290.2%
Array Technologies Inc8.577% 10/14/20270.2%
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer6.750% 04/15/20280.2%
Strathcona Resources Ltd/Alberta6.875% 08/01/20260.2%
SHELF DRILLING HOLDINGS LTD9.625% 04/15/20290.2%
Delek Logistics Partners LP / Delek Logistics Finance Corp7.125% 06/01/20280.2%
Nabors Industries Inc7.375% 05/15/20270.2%
888 ACQUISITIONS LIMITED10.818% 07/01/20280.2%
Directv Financing LLC / Directv Financing Co-Obligor Inc5.875% 08/15/20270.2%
Hudbay Minerals Inc4.500% 04/01/20260.2%
California Resources Corp7.125% 02/01/20260.2%
Garda World Security Corp7.750% 02/15/20280.2%
Dana Inc5.625% 06/15/20280.2%
OneMain Finance Corp6.875% 03/15/20250.2%
Precision Drilling Corp7.125% 01/15/20260.2%
LSB Industries Inc6.250% 10/15/20280.2%
Tenneco Inc8.000% 11/17/20280.2%
FirstCash Inc4.625% 09/01/20280.2%
Full House Resorts Inc8.250% 02/15/20280.2%
Cengage Learning Inc10.323% 07/14/20260.2%
Rand Parent LLC8.500% 02/15/20300.2%
NextEra Energy Operating Partners LP4.250% 07/15/20240.2%
DCG Acquisition Corp9.916% 09/30/20260.2%
Marks & Spencer PLC6.000% 06/12/20250.2%
IRB Holding Corp8.316% 12/15/20270.2%
Pinnacle Bidco PLC6.375% 02/15/20250.2%
Heartland Dental LLC / Heartland Dental Finance Corp10.500% 04/30/20280.2%
Albion Financing 2SARL8.750% 04/15/20270.2%
Transocean Inc7.500% 01/15/20260.2%
USA Compression Partners LP / USA Compression Finance Corp6.875% 09/01/20270.2%
VT Topco Inc9.661% 08/10/20300.2%
SierraCol Energy Andina LLC6.000% 06/15/20280.2%
AerCap Holdings NV5.875% 10/10/20790.2%
TransDigm Inc6.875% 12/15/20300.2%
Frontier Communications Holdings LLC5.875% 10/15/20270.2%
Jefferson Capital Holdings LLC6.000% 08/15/20260.2%
Univision Communications Inc8.681% 03/15/20260.2%
Wynn Macau Ltd5.500% 10/01/20270.2%
Hecla Mining Co7.250% 02/15/20280.2%
Intesa Sanpaolo SpA5.710% 01/15/20260.2%
Sizzling Platter LLC / Sizzling Platter Finance Corp8.500% 11/28/20250.2%
Bombardier Inc6.000% 02/15/20280.2%
Asurion LLC9.318% 08/19/20280.2%
VistaJet Malta Finance PLC / Vista Management Holding Inc7.875% 05/01/20270.2%
Valaris Ltd8.375% 04/30/20300.2%
Par Petroleum LLC9.773% 02/28/20300.2%
Evergreen Acqco 1 LP / TVI Inc9.750% 04/26/20280.2%
B&G Foods Inc8.000% 09/15/20280.2%
Triumph Group Inc9.000% 03/15/20280.2%
Intercept Pharmaceuticals Inc2.000% 05/15/20260.2%
Madison IAQ LLC8.689% 06/21/20280.2%
ASP Unifrax Holdings Inc5.250% 09/30/20280.2%
Tenet Healthcare Corp4.875% 01/01/20260.2%
Douglas GmbH6.000% 04/08/20260.2%
Windsor Holdings III LLC9.830% 08/01/20300.2%
Service Properties Trust5.250% 02/15/20260.2%
Virgin Media Vendor Financing Notes III DAC4.875% 07/15/20280.2%
Studio City Co Ltd7.000% 02/15/20270.2%
Heathrow Finance PLC5.750% 03/03/20250.2%
WaterBridge Midstream Operating LLC11.363% 06/22/20260.2%
Cloud Software Group Inc9.000% 09/30/20290.2%
GPS Hospitality Holding Co LLC / GPS Finco Inc7.000% 08/15/20280.2%
Nordstrom Inc4.000% 03/15/20270.2%
Brinker International Inc5.000% 10/01/20240.2%
SM Energy Co6.750% 09/15/20260.2%
Tetra Tech Inc2.250% 08/15/20280.2%
RealPage Inc8.431% 04/24/20280.2%
Oscar Acquisitionco LLC9.990% 04/29/20290.2%
Huarong Finance II Co Ltd5.000% 11/19/20250.2%
MOSEL BIDCO SE0.000% 09/16/20300.2%
Booking Holdings Inc0.750% 05/01/20250.2%
TerraForm Power Operating LLC5.000% 01/31/20280.2%
PetSmart LLC9.166% 02/11/20280.2%
DaVita Inc4.625% 06/01/20300.2%
Mauser Packaging Solutions Holding Co9.250% 04/15/20270.2%
Oceaneering International Inc6.000% 02/01/20280.2%
CSI Compressco LP / CSI Compressco Finance Inc7.500% 04/01/20250.2%
Virgin Media Vendor Financing Notes IV DAC5.000% 07/15/20280.2%
Medco Bell Pte Ltd6.375% 01/30/20270.2%
Oceaneering International Inc6.000% 02/01/20280.2%
Owens-Brockway Glass Container Inc6.625% 05/13/20270.2%
Altice Financing SA5.000% 01/15/20280.2%
Lindblad Expeditions LLC6.750% 02/15/20270.2%
OneMain Finance Corp3.500% 01/15/20270.2%
City Football Group Ltd8.439% 07/21/20280.2%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc4.750% 04/30/20270.2%
Akbank TAS5.125% 03/31/20250.2%
Brandywine Operating Partnership LP4.100% 10/01/20240.2%
Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc5.250% 08/15/20270.2%
Manitowoc Co Inc/The9.000% 04/01/20260.2%
Avis Budget Car Rental LLC / Avis Budget Finance Inc5.750% 07/15/20270.2%
Central Parent LLC / CDK Global II LLC / CDK Financing Co Inc8.000% 06/15/20290.2%
Amynta Agency Borrower Inc10.416% 02/28/20280.2%
Telecom Italia SpA/Milano5.303% 05/30/20240.2%
Sitio Royalties Operating Partnership LP / Sitio Finance Corp7.875% 11/01/20280.2%
Precision Drilling Corp6.875% 01/15/20290.2%
Flynn Restaurant Group LP9.681% 12/01/20280.2%
Veritas US Inc / Veritas Bermuda Ltd7.500% 09/01/20250.2%
Neuberger Berman Loan Advisers CLO 47 Ltd8.411% 04/14/20350.2%
Herc Holdings Inc5.500% 07/15/20270.2%
Goldman Sachs Group Inc/The7.500% 02/10/21720.2%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.500% 03/01/20250.2%
Park River Holdings Inc8.522% 12/28/20270.2%
Capstone Borrower Inc8.000% 06/15/20300.2%
Hertz Corp/The4.625% 12/01/20260.2%
Madison IAQ LLC5.875% 06/30/20290.2%
Midcap Financial Issuer Trust6.500% 05/01/20280.2%
Sedgwick Claims Management Services Inc9.066% 02/24/20280.2%
PBF Holding Co LLC / PBF Finance Corp6.000% 02/15/20280.2%
New York Community Bancorp Inc5.900% 11/06/20280.2%
eG Global Finance PLC4.375% 02/07/20250.2%
WEA Finance LLC / Westfield UK & Europe Finance PLC3.750% 09/17/20240.2%
Carrols Restaurant Group Inc8.666% 04/30/20260.2%
Jacobs Entertainment Inc6.750% 02/15/20290.2%
Welltec International ApS8.250% 10/15/20260.2%
CNX Resources Corp2.250% 05/01/20260.2%
Nationstar Mortgage Holdings Inc6.000% 01/15/20270.2%
Park-Ohio Industries Inc6.625% 04/15/20270.2%
Pinnacle Bidco PLC10.000% 10/11/20280.2%
Armor Holdco Inc8.500% 11/15/20290.2%
Benteler International AG9.375% 05/15/20280.2%
Brand Industrial Services Inc10.872% 08/01/20300.2%
Solaris Midstream Holdings LLC7.625% 04/01/20260.2%
EnQuest PLC11.625% 11/01/20270.2%
Transocean Inc7.250% 11/01/20250.2%
Emera Inc6.750% 06/15/20760.2%
Civitas Resources Inc5.000% 10/15/20260.1%
Brazos Delaware II LLC9.084% 02/11/20300.1%
Bath & Body Works Inc7.500% 06/15/20290.1%
GrafTech Global Enterprises Inc9.875% 12/15/20280.1%
Directv Financing LLC10.431% 08/02/20270.1%
Electron Bidco Inc8.431% 11/01/20280.1%
Legends Hospitality Holding Co LLC / Legends Hospitality Co-Issuer Inc5.000% 02/01/20260.1%
Ashton Woods USA LLC / Ashton Woods Finance Co6.625% 01/15/20280.1%
MGM Resorts International5.500% 04/15/20270.1%
CPUK Finance Ltd4.875% 02/28/20470.1%
Citigroup Inc3.875% 05/18/21720.1%
Sotheby's7.375% 10/15/20270.1%
Gatwick Airport Finance PLC4.375% 04/07/20260.1%
Carnival Holdings Bermuda Ltd10.375% 05/01/20280.1%
XPO Inc6.250% 06/01/20280.1%
Specialty Building Products Holdings LLC / SBP Finance Corp6.375% 09/30/20260.1%
JW Aluminum Continuous Cast Co10.250% 06/01/20260.1%
Q-Park Holding I BV2.000% 03/01/20270.1%
Nexstar Media Inc4.750% 11/01/20280.1%
Dexko Global Inc9.402% 10/04/20280.1%
Rolls-Royce PLC5.750% 10/15/20270.1%
Kaiser Aluminum Corp4.625% 03/01/20280.1%
Zscaler Inc0.125% 07/01/20250.1%
Standard Industries Inc/NJ5.000% 02/15/20270.1%
NCL Corp Ltd5.875% 03/15/20260.1%
Navient Corp5.875% 10/25/20240.1%
Carriage Purchaser Inc7.875% 10/15/20290.1%
Jazz Financing Lux Sarl8.931% 04/21/20280.1%
Mineral Resources Ltd8.000% 11/01/20270.1%
Starwood Property Trust Inc4.750% 03/15/20250.1%
Ascent Resources Utica Holdings LLC / ARU Finance Corp8.250% 12/31/20280.1%
AMERITEX HOLDCO INTERMEDIATE L10.250% 10/15/20280.1%
LSF11 A5 HoldCo LLC9.666% 10/15/20280.1%
Olympus Water US Holding Corp9.750% 11/15/20280.1%
Service Logic Acquisition Inc9.631% 10/29/20270.1%
Datadog Inc0.125% 06/15/20250.1%
Advance Auto Parts Inc1.750% 10/01/20270.1%
ILFC E-Capital Trust II7.459% 12/21/20650.1%
Life Time Inc10.611% 01/15/20260.1%
MGM China Holdings Ltd5.250% 06/18/20250.1%
Palo Alto Networks Inc0.375% 06/01/20250.1%
Jane Street Group LLC8.181% 01/26/20280.1%
Triumph Group Inc7.750% 08/15/20250.1%
ACProducts Holdings Inc9.902% 05/17/20280.1%
Altice France SA/France8.125% 02/01/20270.1%
Pinnacle Bidco PLC5.500% 02/15/20250.1%
Osaic Holdings Inc9.900% 08/17/20280.1%
Medline Borrower LP8.681% 10/23/20280.1%
Accor SA2.625% 04/30/21720.1%
Renk AG/Frankfurt am Main5.750% 07/15/20250.1%
Affirm Asset Securitization Trust 2023-A7.180% 01/18/20280.1%
Shea Homes LP / Shea Homes Funding Corp4.750% 02/15/20280.1%
Travel + Leisure Co6.625% 07/31/20260.1%
Connecticut Avenue Securities Trust 2023-R019.065% 12/25/20420.1%
Popular Inc7.250% 03/13/20280.1%
New Enterprise Stone & Lime Co Inc9.750% 07/15/20280.1%
MACOM Technology Solutions Holdings Inc0.250% 03/15/20260.1%
Travis Perkins PLC3.750% 02/17/20260.1%
Nabors Industries Ltd7.500% 01/15/20280.1%
Altice Financing SA2.250% 01/15/20250.1%
PDD Holdings Inc0.000% 10/01/20240.1%
Gen Digital Inc7.416% 09/12/20290.1%
Melco Resorts Finance Ltd5.750% 07/21/20280.1%
Adient Global Holdings Ltd7.000% 04/15/20280.1%
Freddie Mac Structured Agency Credit Risk Debt Notes9.315% 07/25/20420.1%
MercadoLibre Inc2.000% 08/15/20280.1%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.1%
Zelis Payments Buyer Inc8.931% 09/30/20260.1%
Pioneer Natural Resources Co0.250% 05/15/20250.1%
Gabon Government International Bond6.950% 06/16/20250.1%
WESCO Distribution Inc7.125% 06/15/20250.1%
SunCoke Energy Inc4.875% 06/30/20290.1%
Canacol Energy Ltd5.750% 11/24/20280.1%
Sierra Timeshare 2023-1 Receivables Funding LLC9.800% 01/20/20400.1%
Teva Pharmaceutical Finance Netherlands III BV7.125% 01/31/20250.1%
Summer BC Holdco B SARL5.750% 10/31/20260.1%
ATI Inc7.250% 08/15/20300.1%
Ensign Drilling Inc9.250% 04/15/20240.1%
Zekelman Industries Inc7.445% 01/24/20270.1%
Uniti Group LP / Uniti Group Finance Inc / CSL Capital LLC10.500% 02/15/20280.1%
SeaWorld Parks & Entertainment Inc5.250% 08/15/20290.1%
UBS AG5.125% 05/15/20240.1%
Pactiv Evergreen Group Holdings Inc8.681% 09/24/20280.1%
IHO Verwaltungs GmbH4.750% 09/15/20260.1%
JELD-WEN Inc4.875% 12/15/20270.1%
Finnair Oyj4.250% 05/19/20250.1%
Tenet Healthcare Corp5.125% 11/01/20270.1%
Southwick Park CLO LLC7.538% 07/20/20320.1%
CVENT INC9.140% 06/17/20300.1%
Prime Security Services Borrower LLC / Prime Finance Inc5.750% 04/15/20260.1%
Cinemark USA Inc9.068% 05/24/20300.1%
Neuberger Berman Loan Advisers CLO 26 Ltd7.322% 10/18/20300.1%
HubSpot Inc0.375% 06/01/20250.1%
CITGO Petroleum Corp8.375% 01/15/20290.1%
Oryx Midstream Services Permian Basin LLC8.692% 10/05/20280.1%
Invesco CLO 2021-3 Ltd8.607% 10/22/20340.1%
Anchorage Capital CLO 4-R Ltd7.477% 01/28/20310.1%
BHMS 2018-ATLS6.879% 07/15/20350.1%
Nouryon USA LLC9.427% 04/03/20280.1%
Turkiye Petrol Rafinerileri AS4.500% 10/18/20240.1%
Elanco Animal Health Inc6.650% 08/28/20280.1%
Clarios Global LP9.066% 05/06/20300.1%
Service Properties Trust4.350% 10/01/20240.1%
Univision Communications Inc8.000% 08/15/20280.1%
Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc4.750% 07/15/20270.1%
Aston Martin Capital Holdings Ltd10.500% 11/30/20250.1%
Heartland Dental LLC / Heartland Dental Finance Corp8.500% 05/01/20260.1%
WE Soda Investments Holding PLC9.500% 10/06/20280.1%
Summit Behavioral Healthcare LLC13.429% 11/26/20290.1%
M/I Homes Inc4.950% 02/01/20280.1%
United Airlines Inc9.182% 04/21/20280.1%
Banco Mercantil del Norte SA/Grand Cayman6.750% 09/27/21720.1%
Chobani LLC / Chobani Finance Corp Inc4.625% 11/15/20280.1%
UBS Group AG5.125% 07/29/21720.1%
Cimpress PLC7.000% 06/15/20260.1%
Presidio Holdings Inc8.250% 02/01/20280.1%
DPL Inc4.125% 07/01/20250.1%
Vertex Aerospace Services Corp8.916% 12/06/20280.1%
Vibrantz Technologies Inc9.699% 04/23/20290.1%
CP Atlas Buyer Inc9.166% 11/23/20270.1%
DISH DBS Corp5.875% 11/15/20240.1%
Methanex Corp5.125% 10/15/20270.1%
ReNew Pvt Ltd5.875% 03/05/20270.1%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC6.500% 02/15/20280.1%
Rivian Automotive Inc4.625% 03/15/20290.1%
ATI Inc5.875% 12/01/20270.1%
Century Communities Inc6.750% 06/01/20270.1%
Vector Group Ltd10.500% 11/01/20260.1%
NBM US Holdings Inc7.000% 05/14/20260.1%
PeopleCert Wisdom Issuer PLC5.750% 09/15/20260.1%
Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp4.875% 05/01/20290.1%
FOGO DE CHAO INC0.000% 09/20/20300.1%
Rakuten Group Inc10.250% 11/30/20240.1%
Viasat Inc5.625% 09/15/20250.1%
Flagship Credit Auto Trust 2023-210.890% 07/15/20300.1%
DraftKings Holdings Inc0.000% 03/15/20280.1%
Genting New York LLC / GENNY Capital Inc3.300% 02/15/20260.1%
CSC Holdings LLC5.500% 04/15/20270.1%
CommScope Inc6.000% 03/01/20260.1%
Kernel Holding SA6.500% 10/17/20240.1%
Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd8.000% 09/20/20250.1%
Weatherford International Ltd8.625% 04/30/20300.1%
MHP SE7.750% 05/10/20240.1%
Madison Park Funding XXXI Ltd8.607% 01/23/20310.1%
Empire Resorts Inc7.750% 11/01/20260.1%
Carlyle US CLO 2021-7 LTD8.670% 10/15/20350.1%
Bombardier Inc7.500% 02/01/20290.1%
Griffon Corp5.750% 03/01/20280.1%
TransDigm Inc6.750% 08/15/20280.1%
Warrior Met Coal Inc7.875% 12/01/20280.1%
SILK BIDCO AS10.451% 02/28/20270.1%
Stonegate Pub Co Financing 2019 PLC8.250% 07/31/20250.1%
PROJECT BOOST PURCHASER LLC0.000% 05/30/20260.1%
Trivium Packaging Finance BV7.531% 08/15/20260.1%
Freddie Mac STACR REMIC Trust 2022-DNA59.815% 06/25/20420.1%
Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc4.125% 08/15/20260.1%
Permian Resources Operating LLC3.250% 04/01/20280.1%
Market Bidco Finco PLC5.500% 11/04/20270.1%
Advanced Energy Industries Inc2.500% 09/15/20280.1%
Scripps Escrow Inc5.875% 07/15/20270.1%
Antero Midstream Partners LP / Antero Midstream Finance Corp5.750% 03/01/20270.1%
Bath & Body Works Inc6.694% 01/15/20270.1%
Transocean Aquila Ltd8.000% 09/30/20280.1%
NCL Corp Ltd5.875% 02/15/20270.1%
Uber Technologies Inc0.000% 12/15/20250.1%
VF Ukraine PAT via VFU Funding PLC6.200% 02/11/20250.1%
KLX Energy Services Holdings Inc11.500% 11/01/20250.1%
Alliance Resource Operating Partners LP / Alliance Resource Finance Corp7.500% 05/01/20250.1%
MGM China Holdings Ltd5.875% 05/15/20260.1%
Allegiant Travel Co7.250% 08/15/20270.1%
Navient Corp5.500% 03/15/20290.1%
AMC Networks Inc4.750% 08/01/20250.1%
Select Medical Corp8.316% 03/06/20270.1%
Holly Energy Partners LP / Holly Energy Finance Corp6.375% 04/15/20270.1%
Gen Digital Inc6.750% 09/30/20270.1%
UKG Inc10.023% 05/04/20260.1%
Kobe US Midco 2 Inc9.250% 11/01/20260.1%
Parsons Corp0.250% 08/15/20250.1%
eDreams ODIGEO SA5.500% 07/15/20270.1%
FAGE International SA / FAGE USA Dairy Industry Inc5.625% 08/15/20260.1%
Madison Park Funding XXV Ltd8.963% 04/25/20290.1%
NOVA Chemicals Corp5.250% 06/01/20270.1%
Uber Technologies Inc8.159% 03/03/20300.1%
Crescent Energy Finance LLC7.250% 05/01/20260.1%
CIFC Funding 2020-I Ltd8.670% 07/15/20360.1%
AerCap Global Aviation Trust6.500% 06/15/20450.1%
Light & Wonder International Inc8.434% 04/14/20290.1%
Mersin Uluslararasi Liman Isletmeciligi AS5.375% 11/15/20240.1%
Live Nation Entertainment Inc7.174% 10/19/20260.1%
Rocket Software Inc9.681% 11/28/20250.1%
Wand NewCo 3 Inc8.068% 02/05/20260.1%
Cerdia Finanz GmbH10.500% 02/15/20270.1%
Fertitta Entertainment LLC/NV9.316% 01/27/20290.1%
Mohegan Tribal Gaming Authority8.000% 02/01/20260.1%
Cleveland-Cliffs Inc5.875% 06/01/20270.1%
Diamond Foreign Asset Co / Diamond Finance LLC8.500% 10/01/20300.1%
Sinclair Television Group Inc7.931% 09/30/20260.1%
Iris Holding Inc10.219% 06/28/20280.1%
Spirit AeroSystems Inc7.500% 04/15/20250.1%
Chart Industries Inc0.000% 12/15/20250.1%
RegionalCare Hospital Partners Holdings Inc / LifePoint Health Inc9.750% 12/01/20260.1%
Coinbase Global Inc3.375% 10/01/20280.1%
AI Candelaria Spain SA7.500% 12/15/20280.1%
Verscend Escrow Corp9.750% 08/15/20260.1%
Bentley Systems Inc0.125% 01/15/20260.1%
Rolls-Royce PLC3.625% 10/14/20250.1%
Turkiye Vakiflar Bankasi TAO9.000% 10/12/20280.1%
Noble Finance II LLC8.000% 04/15/20300.1%
NESCO Holdings II Inc5.500% 04/15/20290.1%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.1%
Chemours Co/The5.375% 05/15/20270.1%
Arsenal AIC Parent LLC9.879% 08/18/20300.1%
Talen Energy Supply LLC9.877% 05/17/20300.1%
Ford Motor Credit Co LLC3.815% 11/02/20270.1%
Enstall Group BV10.402% 08/30/20280.1%
American Airlines Inc/AAdvantage Loyalty IP Ltd5.500% 04/20/20260.1%
Global Partners LP / GLP Finance Corp7.000% 08/01/20270.1%
Grinding Media Inc9.242% 10/12/20280.1%
IHO Verwaltungs GmbH8.750% 05/15/20280.1%
Permian Resources Operating LLC5.375% 01/15/20260.1%
Benteler International AG10.500% 05/15/20280.1%
CPUK Finance Ltd4.500% 08/28/20270.1%
Michaels Cos Inc/The9.902% 04/15/20280.1%
Jones Deslauriers Insurance Management Inc8.500% 03/15/20300.1%
Weekley Homes LLC / Weekley Finance Corp4.875% 09/15/20280.1%
Calumet Specialty Products Partners LP / Calumet Finance Corp8.125% 01/15/20270.1%
Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc5.250% 04/30/20250.1%
Matador Resources Co6.875% 04/15/20280.1%
Canpack SA / Canpack US LLC3.125% 11/01/20250.1%
MHP SE7.750% 05/10/20240.1%
TGP Holdings III LLC0.000% 06/29/20280.1%
Grifols SA4.750% 10/15/20280.1%
Allwyn Entertainment Financing UK PLC7.875% 04/30/20290.1%
Callon Petroleum Co6.375% 07/01/20260.1%
Catalent Pharma Solutions Inc5.000% 07/15/20270.1%
China Hongqiao Group Ltd6.250% 06/08/20240.1%
Electricite de France SA5.625% 07/22/21720.1%
Southern Veterinary Partners LLC9.431% 10/05/20270.1%
Engineered Machinery Holdings Inc12.152% 05/21/20290.1%
BCP V Modular Services Finance II PLC6.125% 11/30/20280.1%
United States Steel Corp6.875% 03/01/20290.1%
Boxer Parent Co Inc7.125% 10/02/20250.1%
Dream Finders Homes Inc8.250% 08/15/20280.1%
United Overseas Bank Ltd3.875% 04/19/21720.1%
Permian Resources Operating LLC6.875% 04/01/20270.1%
Azul Secured Finance LLP11.930% 08/28/20280.1%
Astoria Energy LLC8.931% 12/10/20270.1%
Hughes Satellite Systems Corp5.250% 08/01/20260.1%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc6.000% 02/15/20280.1%
PARKWAY GENERATION LLC10.181% 02/18/20290.1%
Star Parent Inc9.000% 10/01/20300.1%
Vistra Operations Co LLC5.125% 05/13/20250.1%
International Game Technology PLC6.250% 01/15/20270.1%
HAT Holdings I LLC / HAT Holdings II LLC3.375% 06/15/20260.1%
Ford Motor Credit Co LLC6.860% 06/05/20260.1%
H&E Equipment Services Inc3.875% 12/15/20280.1%
Performance Food Group Inc5.500% 10/15/20270.1%
Compass Minerals International Inc6.750% 12/01/20270.1%
CSN Inova Ventures6.750% 01/28/20280.1%
Eskom Holdings SOC Ltd7.125% 02/11/20250.1%
VOC Escrow Ltd5.000% 02/15/20280.1%
TK Elevator Midco GmbH4.375% 07/15/20270.1%
Constellation Renewables LLC8.184% 12/15/20270.1%
Petco Health & Wellness Co Inc9.015% 03/03/20280.1%
Enviri Corp7.681% 03/10/20280.1%
RHP Hotel Properties LP / RHP Finance Corp7.250% 07/15/20280.1%
Acadia Healthcare Co Inc5.500% 07/01/20280.1%
Pactiv Evergreen Group Issuer Inc/Pactiv Evergreen Group Issuer LLC4.000% 10/15/20270.1%
BCPE Empire Holdings Inc10.068% 12/11/20280.1%
Tenet Healthcare Corp6.250% 02/01/20270.1%
Physician Partners LLC9.416% 12/23/20280.1%
MEG Energy Corp5.875% 02/01/20290.1%
Welltec International ApS8.250% 10/15/20260.1%
Churchill Downs Inc5.500% 04/01/20270.1%
Coronado Finance Pty Ltd10.750% 05/15/20260.1%
Castlelake Aviation One DAC8.421% 10/22/20270.1%
Seadrill Finance Ltd8.375% 08/01/20300.1%
Taseko Mines Ltd7.000% 02/15/20260.1%
United Airlines Inc4.375% 04/15/20260.1%
Lumen Technologies Inc7.681% 03/15/20270.1%
Liberty Media Corp-Liberty Formula One2.250% 08/15/20270.1%
Pike Corp5.500% 09/01/20280.1%
AMN Healthcare Inc4.625% 10/01/20270.1%
Aruba Investments Holdings LLC13.166% 11/24/20280.1%
Autokiniton US Holdings Inc9.818% 04/06/20280.1%
McGraw-Hill Education Inc5.750% 08/01/20280.1%
Forestar Group Inc3.850% 05/15/20260.1%
PRA Group Inc8.375% 02/01/20280.1%
Urban One Inc7.375% 02/01/20280.1%
EFS Cogen Holdings I LLC9.160% 10/01/20270.1%
Stena International SA6.125% 02/01/20250.1%
Viking Cruises Ltd5.875% 09/15/20270.1%
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC6.000% 06/15/20270.1%
Hughes Satellite Systems Corp6.625% 08/01/20260.1%
SCIL IV LLC / SCIL USA Holdings LLC5.375% 11/01/20260.1%
CHS/Community Health Systems Inc6.875% 04/15/20290.1%
Alloy Finco Ltd0.500% 03/06/20250.1%
AAdvantage Loyalty IP Ltd10.338% 04/20/20280.1%
Boxer Parent Co Inc10.931% 02/27/20260.1%
SEG Holding LLC / SEG Finance Corp5.625% 10/15/20280.1%
LABL Inc6.750% 07/15/20260.1%
Madison Park Funding XLV Ltd8.720% 07/15/20340.1%
Regatta XIII Funding Ltd7.670% 07/15/20310.1%
Chesapeake Energy Corp5.500% 02/01/20260.1%
OHA Credit Partners XIV Ltd7.395% 01/21/20300.1%
Amsted Industries Inc5.625% 07/01/20270.1%
THL Credit Wind River 2019-3 Clo Ltd7.770% 04/15/20310.1%
AL GCX Holdings LLC8.777% 05/17/20290.1%
Murphy Oil USA Inc5.625% 05/01/20270.1%
Catalent Pharma Solutions Inc7.438% 02/22/20280.1%
Juventus Football Club SpA3.375% 02/19/20240.1%
Boyne USA Inc4.750% 05/15/20290.1%
Transocean Inc11.500% 01/30/20270.1%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC4.625% 01/15/20270.1%
Castlelake Aviation Finance DAC5.000% 04/15/20270.1%
Williams Scotsman International Inc4.625% 08/15/20280.1%
SPECTACLE GARY HOLDINGS LLC9.769% 12/10/20280.1%
Dave & Buster's Inc9.188% 06/29/20290.1%
CQP Holdco LP8.818% 06/05/20280.1%
Ziggo Bond Co BV6.000% 01/15/20270.1%
Forestar Group Inc5.000% 03/01/20280.1%
SEB Funding LLC4.969% 01/30/20520.1%
Tri Pointe Homes Inc5.250% 06/01/20270.1%
Vital Energy Inc9.750% 10/15/20300.1%
Carnival Corp8.681% 10/18/20280.1%
Chart Industries Inc9.174% 03/15/20300.1%
CHG Healthcare Services Inc0.000% 09/29/20280.1%
FX USD/EUR 12/230.000% 12/13/20230.1%
LABL Inc10.500% 07/15/20270.1%
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp4.250% 02/01/20270.1%
Catalent Pharma Solutions Inc2.375% 03/01/20280.1%
Coeur Mining Inc5.125% 02/15/20290.1%
Clarios Global LP / Clarios US Finance Co6.750% 05/15/20280.1%
Sealed Air Corp/Sealed Air Corp US6.125% 02/01/20280.1%
Talen Energy Supply LLC8.625% 06/01/20300.1%
Iceland Bondco PLC10.875% 12/15/20270.1%
Spirit AeroSystems Inc9.619% 01/15/20270.1%
Boxer Parent Co Inc9.181% 10/02/20250.1%
Buckeye Partners LP3.950% 12/01/20260.1%
Freedom Mortgage Corp8.250% 04/15/20250.1%
Newell Brands Inc6.375% 09/15/20270.1%
Teva Pharmaceutical Finance Netherlands III BV6.750% 03/01/20280.1%
VistaJet Malta Finance PLC / Vista Management Holding Inc9.500% 06/01/20280.0%
MGM Resorts International6.750% 05/01/20250.0%
HUB International Ltd9.584% 06/20/20300.0%
AssuredPartners Inc7.000% 08/15/20250.0%
Post Holdings Inc5.625% 01/15/20280.0%
NCL Corp Ltd8.375% 02/01/20280.0%
Tank Holding Corp11.420% 03/31/20280.0%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc10.750% 06/01/20280.0%
Buckeye Partners LP4.125% 12/01/20270.0%
Trident TPI Holdings Inc12.750% 12/31/20280.0%
Griffon Corp7.791% 01/24/20290.0%
Coty Inc6.500% 04/15/20260.0%
Motion Finco Sarl7.375% 06/15/20300.0%
Asbury Automotive Group Inc4.500% 03/01/20280.0%
BCPE Empire Holdings Inc7.625% 05/01/20270.0%
LSF11 A5 HoldCo LLC6.625% 10/15/20290.0%
GTCR AP Finance Inc8.000% 05/15/20270.0%
Range Resources Corp8.250% 01/15/20290.0%
Virgin Media Bristol LLC7.947% 01/31/20280.0%
Vistra Operations Co LLC5.000% 07/31/20270.0%
Williams Scotsman International Inc6.125% 06/15/20250.0%
EQM Midstream Partners LP6.000% 07/01/20250.0%
Viper Energy Partners LP5.375% 11/01/20270.0%
Summit Materials LLC8.571% 12/14/20270.0%
MOTION FINCO SARL8.903% 11/12/20260.0%
FX USD/GBP 12/230.000% 12/08/20230.0%
Trivium Packaging Finance BV5.500% 08/15/20260.0%
Heartland Dental LLC10.331% 04/28/20280.0%
CPM Holdings Inc0.000% 09/22/20280.0%
Topgolf Callaway Brands Corp8.916% 03/15/20300.0%
Penn Entertainment Inc5.625% 01/15/20270.0%
VistaJet Malta Finance PLC / Vista Management Holding Inc6.375% 02/01/20300.0%
Park River Holdings Inc6.750% 08/01/20290.0%
Service Properties Trust4.750% 10/01/20260.0%
Tidewater Inc10.375% 07/03/20280.0%
REALTRUCK GROUP INC0.000% 01/31/20280.0%
Park River Holdings Inc5.625% 02/01/20290.0%
Delta 2 Lux Sarl8.331% 01/15/20300.0%
Ahlstrom Holding 3 Oy4.875% 02/04/20280.0%
MH Sub I LLC9.181% 09/13/20240.0%
William Carter Co/The5.625% 03/15/20270.0%
PLT VII Finance Sarl4.625% 01/05/20260.0%
SCIH Salt Holdings Inc4.875% 05/01/20280.0%
Nouryon USA LLC9.347% 04/03/20280.0%
Option Care Health Inc8.181% 10/27/20280.0%
Prime Security Services Borrower LLC8.192% 09/23/20260.0%
Compass Power Generation LLC9.566% 04/14/20290.0%
Morgan Stanley8.831% 03/15/21720.0%
Bristow Group Inc6.875% 03/01/20280.0%
UPC Holding BV5.500% 01/15/20280.0%
Tank Holding Corp11.166% 03/31/20280.0%
Dufry One BV3.625% 04/15/20260.0%
Natura Cosmeticos SA4.125% 05/03/20280.0%
Navient Corp4.875% 03/15/20280.0%
Watco Cos LLC / Watco Finance Corp6.500% 06/15/20270.0%
Atlantica Sustainable Infrastructure PLC4.125% 06/15/20280.0%
Sunoco LP / Sunoco Finance Corp7.000% 09/15/20280.0%
Resorts World Las Vegas LLC / RWLV Capital Inc4.625% 04/16/20290.0%
Iceland Bondco PLC10.875% 12/15/20270.0%
Permian Resources Operating LLC5.875% 07/01/20290.0%
Southwestern Energy Co5.375% 02/01/20290.0%
MGM Resorts International4.750% 10/15/20280.0%
ECL Entertainment LLC10.140% 08/31/20300.0%
Nascar Holdings LLC7.931% 10/19/20260.0%
LSF11 A5 HoldCo LLC8.810% 10/15/20280.0%
IHO Verwaltungs GmbH8.750% 05/15/20280.0%
Country Garden Holdings Co Ltd8.000% 01/27/20240.0%
Vistra Operations Co LLC5.500% 09/01/20260.0%
Gray Escrow II Inc5.375% 11/15/20310.0%
FX USD/CAD 11/230.000% 11/20/20230.0%
PARKWAY GENERATION LLC10.181% 02/18/20290.0%
TALEN ENERGY CORP0.000% -0.0%
YPF Energia Electrica SA10.000% 07/25/20260.0%
CPV Shore Holdings LLC9.068% 12/29/20250.0%
MOTION FINCO SARL0.089% 11/12/20260.0%
Country Garden Holdings Co Ltd7.250% 04/08/20260.0%
Vital Energy Inc9.500% 01/15/20250.0%
Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.0%
Talen Energy Corp0.000% -0.0%
Buckeye Partners LP9.627% 01/22/20780.0%
FX USD/GBP 12/230.000% 12/08/20230.0%
NEP Group Inc12.431% 10/19/20260.0%
FX USD/GBP 12/230.000% 12/08/20230.0%
FX USD/CAD 10/230.000% 10/20/20230.0%
MH Sub I LLC9.181% 09/13/20240.0%
FX USD/GBP 12/230.000% 12/08/20230.0%
VUE INTERNATIONAL BIDCO P L C4.859% 12/31/20270.0%
FX USD/CHF 11/230.000% 11/22/20230.0%
FX USD/EUR 12/230.000% 12/13/20230.0%
Iron Mountain Inc4.875% 09/15/20270.0%
Bulldog Purchaser Inc9.273% 09/05/20250.0%
USIC Holdings Inc11.931% 05/14/20290.0%
AthenaHealth Group Inc8.568% 02/15/20290.0%
Nathan's Famous Inc6.625% 11/01/20250.0%
Scotts Miracle-Gro Co/The5.250% 12/15/20260.0%
US 5YR NOTE (CBT) Dec230.000% 01/04/20240.0%
VUE INTERNATIONAL BIDCO P L C12.072% 06/30/20270.0%
Elwood Energy LLC8.159% 07/05/20260.0%
Icebox Holdco III Inc9.150% 12/22/20280.0%
ESC GCB144A HERTZ CORP5.500% 10/15/20240.0%
FX USD/GBP 12/230.000% 12/08/20230.0%
APi Group DE Inc8.181% 01/03/20290.0%
FX USD/GBP 12/230.000% 12/08/20230.0%
ESC GCB HERTZ CORP6.250% 10/15/20220.0%
FX USD/GBP 12/230.000% 12/08/20230.0%
FX USD/GBP 12/230.000% 12/08/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
Tank Holding Corp0.010% 03/31/20280.0%
US 2YR NOTE (CBT) Dec230.000% 01/04/20240.0%
Credit Index Swap0.000% 12/20/20280.0%
Credit Index Swap0.000% 06/20/20280.0%

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.

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 11/29/2023
$0.62710
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 10/31/2023 $0.06608 $9.39
Daily Daily 09/30/2023 $0.06302 $9.53
Daily Daily 08/31/2023 $0.06386 $9.62
Daily Daily 07/31/2023 $0.06461 $9.64
Daily Daily 06/30/2023 $0.06275 $9.59
Daily Daily 05/31/2023 $0.06261 $9.50
Daily Daily 04/30/2023 $0.06120 $9.61
Daily Daily 03/31/2023 $0.06193 $9.59
Daily Daily 02/28/2023 $0.06145 $9.59
Daily Daily 01/31/2023 $0.05958 $9.74

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 11/30/2023
Daily Daily 12/31/2023

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
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 11/29/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $9.88
$100,000 to $249,999 1.75% 1.50% $9.83
$250,000 to $499,999 1.25% 1.00% $9.78
Greater than $500,000 0.00% 1.00% $9.66

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

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

For Sales Charge Reductions and Waivers View Full Disclosure

SALES CHARGE REDUCTIONS AND WAIVERS

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

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

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

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

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

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

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

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

 

Expense Ratioas of 10/31/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
1.60% 0.65%

Expense ratio details, Click here.

Fund Documents

Fund Documents

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

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

 

2

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

 

3

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

+

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

                    

 

IMPORTANT INFORMATION

 

New Fund Risk: The Fund is newly organized. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investing strategy

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The value of your investment will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt securities tend to rise, and when interest rates rise, the prices of debt securities are likely to decline. The Fund invests primarily in high-yield, lower-rated securities, sometimes called junk bonds. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance.

 

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

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

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

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

 

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

 

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

 

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

 

The 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.

 

 

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

 

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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