LSDAX | Short Duration Tax Free Fund Class A | Lord Abbett

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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 01/21/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 0.75% 0.74%
w/ sales charge 0.73% 0.72%

30-Day Standardized Yield 2 as of 12/31/2021  

0.09%

Fund Basicsas of 12/31/2021

Total Net Assets
$2.34 B
Inception Date
12/31/2008
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.66%
Fund Net Expense Ratio
0.65%
Number of Holdings
448
Minimum Initial Investment
$1,000+

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 0.29% 0.29% 2.12% 1.82% 1.29% 1.89%
Lipper Category Avg. Short Municipal Debt Funds 0.13% 0.13% 1.55% 1.43% 1.02% -
Bloomberg Municipal Bond Short 1-5 Year Index 0.37% 0.37% 2.27% 2.04% 1.56% 2.03%
w/ sales charge -1.99% -1.99% 1.34% 1.35% 1.06% 1.71%

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 0.29% 0.29% 2.12% 1.82% 1.29% 1.89%
Lipper Category Avg. Short Municipal Debt Funds 0.13% 0.13% 1.55% 1.43% 1.02% -
Bloomberg Municipal Bond Short 1-5 Year Index 0.37% 0.37% 2.27% 2.04% 1.56% 2.03%
w/ sales charge -1.99% -1.99% 1.34% 1.35% 1.06% 1.71%

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

RELATED CONTENT

What’s Behind Municipal Bonds’ Recent Volatility?
What’s Behind Municipal Bonds’ Recent Volatility?
October 14, 2021

Concerns about rates and supply/demand factors have weighed on municipal bonds in recent weeks, but we expect that longer-term market fundamentals will remain positive

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

CREDIT QUALITY DISTRIBUTION as of 12/31/2021

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

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 13 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 01/21/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 0.75% 0.74%
w/ sales charge 0.73% 0.72%

30-Day Standardized Yield 2 as of 12/31/2021  

  Subsidized5 Un-Subsidized6
w/o sales charge 0.09% 0.09%

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 0.29% 0.29% 2.12% 1.82% 1.29% 1.89%
Lipper Category Avg. Short Municipal Debt Funds 0.13% 0.13% 1.55% 1.43% 1.02% -
Bloomberg Municipal Bond Short 1-5 Year Index 0.37% 0.37% 2.27% 2.04% 1.56% 2.03%
w/ sales charge -1.99% -1.99% 1.34% 1.35% 1.06% 1.71%

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2008
w/o sales charge 0.29% 0.29% 2.12% 1.82% 1.29% 1.89%
Lipper Category Avg. Short Municipal Debt Funds 0.13% 0.13% 1.55% 1.43% 1.02% -
Bloomberg Municipal Bond Short 1-5 Year Index 0.37% 0.37% 2.27% 2.04% 1.56% 2.03%
w/ sales charge -1.99% -1.99% 1.34% 1.35% 1.06% 1.71%

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

Year Fund Returns Bloomberg Municipal Bond Short 1-5 Year Index
2021 0.29% 0.37%
2020 2.03% 2.82%
2019 4.06% 3.66%
2018 1.10% 1.77%
2017 1.64% 1.61%
2016 -0.66% 0.07%
2015 0.71% 1.21%
2014 1.58% 1.31%
2013 0.02% 1.14%
2012 2.16% 1.73%
2011 3.46% -
2010 2.17% -
2009 6.14% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 0.00% 0.54% -0.25% 0.00% 0.29%
2020 -1.67% 1.86% 0.96% 0.91% 2.03%
2019 1.51% 1.24% 0.71% 0.55% 4.06%
2018 -0.13% 0.51% 0.08% 0.63% 1.10%
2017 0.92% 0.73% 0.40% -0.42% 1.64%
2016 0.52% 0.60% 0.01% -1.77% -0.66%
2015 0.31% -0.25% 0.52% 0.14% 0.71%
2014 0.57% 0.56% 0.39% 0.06% 1.58%
2013 0.54% -1.01% 0.17% 0.32% 0.02%
2012 0.75% 0.64% 0.74% 0.02% 2.16%
2011 0.53% 1.42% 0.97% 0.50% 3.46%
2010 0.49% 0.95% 1.36% -0.63% 2.17%
2009 2.36% 0.99% 2.26% 0.41% 6.14%

Growth of $10,000 as of 07/31/2021

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

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

CREDIT QUALITY DISTRIBUTION as of 12/31/2021

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

Portfolio Details as of 12/31/2021

Total Net Assets
$2.34 B
Number of Issues
448
Average Coupon
3.0%
Average Effective Maturity
4.8 Years
Average Effective Duration
2.69 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 01/21/2022
$0
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 12/31/2021 $0.00975 $15.81
Daily Daily 11/30/2021 $0.01035 $15.82
Daily Daily 10/31/2021 $0.00972 $15.81
Daily Daily 09/30/2021 $0.01053 $15.84
Daily Daily 08/31/2021 $0.00966 $15.92
Daily Daily 07/31/2021 $0.01065 $15.95
Daily Daily 06/30/2021 $0.01144 $15.91
Daily Daily 05/31/2021 $0.01161 $15.91
Daily Daily 04/30/2021 $0.01219 $15.90
Daily Daily 03/31/2021 $0.01196 $15.86
Daily Daily 02/28/2021 $0.01491 $15.84
Daily Daily 01/31/2021 $0.01318 $15.96

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 01/31/2022
Daily Daily 02/28/2022
Daily Daily 03/31/2022
Daily Daily 04/30/2022
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

Sales Charge Schedule as of 01/21/2022

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $16.04
$100,000 to $249,999 1.75% 1.50% $15.96
$250,000 to $499,999 0.00% 1.00% $15.68
$500,000 to $999,999 0.00% 1.00% $15.68
$1,000,000 to $5,000,000 0.00% 1.00% $15.68

Expense Ratioas of 12/31/2021

Fund Gross Expense Ratio Fund Net Expense Ratio
0.66% 0.65%

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
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Statutory Prospectus
Publish Date:11/03/2015
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Publish Date:11/03/2015
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Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
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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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