LISDX | Short Duration Tax Free Fund Class I | Lord Abbett

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Short Duration Tax Free Fund

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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 05/20/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.22% 1.21%

30-Day Standardized Yield 2 as of 04/30/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 1.55% 1.54%

Fund Basicsas of 03/31/2022

Total Net Assets
$2.17 B
Inception Date
12/31/2008
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.46%
Fund Net Expense Ratio
0.45%
Number of Holdings
426
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 -4.46% -4.37% 0.20% 0.82% 0.91% 1.69%
Lipper Category Avg. Short Municipal Debt Funds -2.86% -2.93% 0.17% 0.61% 0.61% -
Bloomberg Municipal Bond Short 1-5 Year Index -4.26% -4.20% 0.35% 0.85% 1.03% 1.65%

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 -3.35% -2.87% 0.66% 1.13% 1.06% 1.79%
Lipper Category Avg. Short Municipal Debt Funds -2.16% -2.04% 0.45% 0.82% 0.72% -
Bloomberg Municipal Bond Short 1-5 Year Index -3.33% -3.06% 0.68% 1.11% 1.16% 1.73%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

The Muni Quarterly

The Muni Quarterly offers insights from our analysts on key topics for municipal bond investors, along with essential market information.

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

CREDIT QUALITY DISTRIBUTION as of 03/31/2022

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

34 Years of Industry Experience

Daniel T. Vande Velde
Daniel T. Vande Velde

Partner & Portfolio Manager

31 Years of Industry Experience

Supported By 16 Investment Professionals with 14 Years Avg. Industry Experience

Contact a Representative

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Performance

Performance

Dividend Yield 1 as of 05/20/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.22% 1.21%

30-Day Standardized Yield 2 as of 04/30/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 1.55% 1.54%

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 -4.46% -4.37% 0.20% 0.82% 0.91% 1.69%
Lipper Category Avg. Short Municipal Debt Funds -2.86% -2.93% 0.17% 0.61% 0.61% -
Bloomberg Municipal Bond Short 1-5 Year Index -4.26% -4.20% 0.35% 0.85% 1.03% 1.65%

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 -3.35% -2.87% 0.66% 1.13% 1.06% 1.79%
Lipper Category Avg. Short Municipal Debt Funds -2.16% -2.04% 0.45% 0.82% 0.72% -
Bloomberg Municipal Bond Short 1-5 Year Index -3.33% -3.06% 0.68% 1.11% 1.16% 1.73%

Fund Expense Ratio :

Gross 0.46%

Net 0.45%

Year Fund Returns Bloomberg Municipal Bond Short 1-5 Year Index
2021 0.55% 0.37%
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% -
2010 2.36% -
2009 6.39% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -3.35% - - - -
2021 0.05% 0.65% -0.20% 0.05% 0.55%
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
VRDN
Power
Transportation
Housing
GO State
Lease
Water & Sewer
Special Tax
Education
Other
Resource Recovery
Pre-Refunded
Muni_Pre-Refunded
Maturity Assets
<1 Year
1-2 Years
2-4 Years
4-6 Years
>6 Years
State Assets
NY
PA
IL
NJ
AL
TX
CA
NC
FL
OH
CT
MA
GA
VA
LA
AR
WV
MD
IN
WI
NE
DE
NM
MO
MI
CO
KY
SC
OR
ID
MN
ND
IA
AZ
MS
NH
TN
RI
NV
KS
OK
WA
WY
Other U.S. Territories

CREDIT QUALITY DISTRIBUTION as of 03/31/2022

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

Portfolio Details as of 03/31/2022

Total Net Assets
$2.17 B
Number of Issues
426
Average Coupon
3.0%
Average Effective Maturity
4.3 Years
Average Effective Duration
2.45 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 05/20/2022
$0.055
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 04/30/2022 $0.01529 $15.06
Daily Daily 03/31/2022 $0.01335 $15.25
Daily Daily 02/28/2022 $0.01396 $15.49
Daily Daily 01/31/2022 $0.01270 $15.57

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 05/31/2022
Daily Daily 06/30/2022
Daily Daily 07/31/2022
Daily Daily 08/31/2022
Daily Daily 09/30/2022
Daily Daily 10/31/2022
Daily Daily 11/30/2022
Daily Daily 12/31/2022

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
12/21/2022 12/22/2022

Fees & Expenses

Fees & Expenses

Expense Ratioas of 04/30/2022

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

Fund Documents

Fund Documents

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

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The Bloomberg Municipal Bond Short 1-5 Year Index is the Muni Short 1-5 year component of the Municipal Bond index. The Bloomberg 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. 

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