LISDX | Short Duration Tax Free Fund Class I | Lord Abbett
Image alt tag

Error!

There was a problem contacting the server. Please try after sometime.

Sorry, we are unable to process your request.

Error!

We're sorry, but the Insights and Intelligence Tool is temporarily unavailable

If this problem persists, or if you need immediate assistance, please contact Customer Service at 1-888-522-2388.

Error!

We're sorry, but the Literature Center checkout function is temporarily unavailable.

If this problem persists, or if you need immediate assistance, please contact Customer Service at 1-888-522-2388.

Tracked Funds

You have 0 funds on your mutual fund watch list.

Begin by selecting funds to create a personalized watch list.

(as of 12/05/2015)

Pending Orders

You have 0 items in your cart.

Subscribe and order forms, fact sheets, presentations, and other documents that can help advisers grow their business.

Reset Your Password

Financial Professionals*

Your password must be a minimum of characters.

Confirmation Message

Your LordAbbett.com password was successully updated. This page will be refreshed after 3 seconds.

OK

 

Short Duration Tax Free Fund

Summary

Summary

What is the Short Duration Tax Free Fund?

The Fund seeks to deliver a high level of income exempt from federal taxation by investing primarily in short-term investment grade municipal bonds.
 

EXPERIENCED TEAM, TRUSTED LEGACY

A firm with over 30 years of experience navigating the nuances of the municipal market. 

HIGH QUALITY, LOW DURATION

The strategy seeks to generate tax-free income by combining high-quality, short maturity bonds with money market securities*, limiting credit risk and interest rate risk.  

STRONG PERFORMANCE

The disciplined process, based on in-depth credit research and strategic portfolio positioning, has provided investors with attractive returns relative to peers. 

* Although the Fund may invest in money market securities, this is not a money market fund.

Yield

Dividend Yield 1 as of 06/11/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.07% 1.06%

30-Day Standardized Yield 2 as of 05/31/2021  

0.28%

Fund Basicsas of 04/30/2021

Total Net Assets
$2.20 B
Inception Date
12/31/2008
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.46%
Fund Net Expense Ratio
0.45%
Number of Holdings
445
Minimum Initial Investment
$1,000,000+

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 0.55% 3.45% 2.66% 1.77% 1.69% 2.19%
Lipper Category Avg. Short Municipal Debt Funds 0.28% 1.71% 1.94% 1.36% 1.25% -
Bloomberg Barclays Municipal Bond Short 1-5 Year Index 0.33% 1.57% 2.72% 1.87% 1.72% 2.13%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 0.05% 3.90% 2.64% 1.72% 1.74% 2.18%
Lipper Category Avg. Short Municipal Debt Funds 0.01% 2.35% 1.91% 1.34% 1.26% -
Bloomberg Barclays Municipal Bond Short 1-5 Year Index 0.08% 3.33% 2.74% 1.85% 1.81% 2.14%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

RELATED CONTENT

Sector Assets
IDR/PCR
GO Local
Healthcare/Hospital
Transportation
VRDN
GO State
Power
Housing
Lease
Education
Water & Sewer
Special Tax
Muni_Solid_Waste/Res_Recovery
Other
Pre-Refunded
Maturity Assets
<1 Year
1-2 Years
2-4 Years
4-6 Years
>6 Years

CREDIT QUALITY DISTRIBUTION as of 04/30/2021

Rating Assets
A-1/MIG1
A-2/MIG2
AAA
AA
A
BBB
< BBB
Not Rated

INVESTMENT TEAM

Daniel S. Solender
Daniel S. Solender, CFA

Partner & Director

33 Years of Industry Experience

Daniel T. Vande Velde
Daniel T. Vande Velde

Partner & Portfolio Manager

30 Years of Industry Experience

Supported By 16 Investment Professionals with 13 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 06/11/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.07% 1.06%

30-Day Standardized Yield 2 as of 05/31/2021  

  Subsidized5 Un-Subsidized6
w/o sales charge 0.28% 0.28%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 0.55% 3.45% 2.66% 1.77% 1.69% 2.19%
Lipper Category Avg. Short Municipal Debt Funds 0.28% 1.71% 1.94% 1.36% 1.25% -
Bloomberg Barclays Municipal Bond Short 1-5 Year Index 0.33% 1.57% 2.72% 1.87% 1.72% 2.13%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 0.05% 3.90% 2.64% 1.72% 1.74% 2.18%
Lipper Category Avg. Short Municipal Debt Funds 0.01% 2.35% 1.91% 1.34% 1.26% -
Bloomberg Barclays Municipal Bond Short 1-5 Year Index 0.08% 3.33% 2.74% 1.85% 1.81% 2.14%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

Year Fund Returns Bloomberg Barclays Municipal Bond Short 1-5 Year Index
2020 2.17% 2.82%
2019 4.27% 3.66%
2018 1.29% 1.77%
2017 1.90% 1.61%
2016 -0.46% 0.07%
2015 0.91% 1.21%
2014 1.78% 1.31%
2013 0.21% 1.14%
2012 2.35% 1.73%
2011 3.64% 3.45%
2010 2.36% -
2009 6.39% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 0.05% - - - 0.84%
2020 -1.62% 1.84% 1.01% 0.96% 2.17%
2019 1.49% 1.35% 0.69% 0.67% 4.27%
2018 -0.15% 0.63% 0.06% 0.75% 1.29%
2017 1.04% 0.71% 0.51% -0.37% 1.90%
2016 0.57% 0.65% 0.06% -1.72% -0.46%
2015 0.36% -0.14% 0.50% 0.19% 0.91%
2014 0.68% 0.54% 0.44% 0.11% 1.78%
2013 0.59% -0.96% 0.22% 0.37% 0.21%
2012 0.79% 0.68% 0.79% 0.07% 2.35%
2011 0.58% 1.47% 1.01% 0.54% 3.64%
2010 0.53% 0.99% 1.41% -0.58% 2.36%
2009 2.42% 1.06% 2.32% 0.46% 6.39%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Sector Assets
IDR/PCR
GO Local
Healthcare/Hospital
Transportation
VRDN
GO State
Power
Housing
Lease
Education
Water & Sewer
Special Tax
Muni_Solid_Waste/Res_Recovery
Other
Pre-Refunded
Maturity Assets
<1 Year
1-2 Years
2-4 Years
4-6 Years
>6 Years
State Assets
NY
IL
PA
NJ
TX
CA
OH
AL
CT
FL
NC
VA
LA
AR
MA
MD
GA
WV
IA
DE
SC
KY
TN
IN
CO
NM
MI
MO
NE
WI
OR
ID
AZ
WA
MN
MS
ND
HI
NH
NV
KS
OK
Puerto Rico
DC
WY

CREDIT QUALITY DISTRIBUTION as of 04/30/2021

Rating Assets
A-1/MIG1
A-2/MIG2
AAA
AA
A
BBB
< BBB
Not Rated

Portfolio Positioning as of 03/31/2021

  • The portfolio is overweight bonds maturing in less than one year. These positions represent a sizable weighting in variable rate demand notes which typically exhibit low volatility and strong liquidity. These securities are always priced at par, and therefore, do not have the duration risk of fixed coupon bonds.
  • The strong underlying credit quality of the municipal market and the ability of issuers in different sectors to respond to the challenges posed by the economic damage caused by the virus supported the recovery since the market sell-off.
  • On top of the overall strength displayed last year, municipalities are receiving significant support from the U.S. government under the American Rescue Plan (ARP) signed into law by President Joe Biden on March 11, 2021.
  • We expect these funds to go beyond recovery and likely prove stimulative. Further, as the economy continues to reopen, and consumer confidence continues to improve, we believe investors’ perceptions of higher credit quality and lower default risk for the broad municipal market will strengthen.

Portfolio Details as of 04/30/2021

Total Net Assets
$2.20 B
Number of Issues
445
Average Coupon
3.2%
Average Effective Maturity
4.1 Years
Average Effective Duration
2.67 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 06/11/2021
$0.076
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 05/31/2021 $0.01422 $15.91
Daily Daily 04/30/2021 $0.01480 $15.91
Daily Daily 03/31/2021 $0.01466 $15.86
Daily Daily 02/28/2021 $0.01732 $15.84
Daily Daily 01/31/2021 $0.01590 $15.97

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 06/30/2021
Daily Daily 07/31/2021
Daily Daily 08/31/2021
Daily Daily 09/30/2021
Daily Daily 10/31/2021
Daily Daily 11/30/2021
Daily Daily 12/31/2021

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/19/2013 12/20/2013 $0.0121 - $0.0121 $15.71

Upcoming Capital Gain Distribution

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date
12/21/2021 12/22/2021

Fees & Expenses

Fees & Expenses

Expense Ratioas of 05/31/2021

Fund Gross Expense Ratio Fund Net Expense Ratio
0.46% 0.45%

Fund Documents

Fund Documents

Download fund documents & literature, create email subscriptions, and place direct mail order

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

To order literature visit full website

You may add to your cart by selecting quantities in each row below.

No rows selected. Please Go back and select at least one fund document

 
Quantity
Quantity
Remove
Remove

Class I - SEC Returns reflect performance for Class I shares at Net Asset Value.

The Bloomberg Barclays Municipal Bond Short 1-5 Year Index is the Muni Short 1-5 year component of the Municipal Bond index. The Bloomberg Barclays Municipal Bond Index is a rules-based, market-value-weighted index engineered for the long-term tax-exempt bond market. The index is a broad measure of the municipal bond market with maturities of at least one year.  To be included in the index, bonds must be rated investment-grade (Baa3/BBB- or higher) by at least two of the following ratings agencies: Moody's, S&P, Fitch. If only two of the three agencies rate the security, the lower rating is used to determine index eligibility. If only one of the three agencies rates a security, the rating must be investment-grade. They must have an outstanding par value of at least $7 million and be issued as part of a transaction of at least $75 million. The bonds must be fixed rate, have a dated-date after December 31, 1990, and must be at least one year from their maturity date. 

Select funds to run a Morningstar Hypothetical Report.

    Please confirm your literature shipping address

    Please review the address information below and make any necessary changes.

    All literature orders will be shipped to the address that you enter below. This information can be edited at any time.

    Current Literature Shipping Address

    * Required field