LSDAX | Short Duration Tax Free Fund Class A | 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

30-Day Standardized Yield 1 as of 11/30/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 2.76% 2.74%

Average Yield to Worst as of 11/29/2024

3.56%

Fund Basicsas of 11/29/2024

Total Net Assets
$1.54 B
Inception Date
12/31/2008
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.66%
Fund Net Expense Ratio
0.65%
Number of Holdings
278
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 3.26% 4.27% 0.70% 0.92% 1.10% 1.67%
Lipper Category Avg. Short Municipal Debt Funds 3.03% 3.87% 1.42% 1.27% 1.11% -
Bloomberg Municipal Bond Short 1-5 Year Index 2.42% 3.39% 0.91% 1.22% 1.39% 1.83%
w/ sales charge 0.92% 1.95% -0.06% 0.47% 0.87% 1.52%

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 3.11% 5.67% 0.64% 0.96% 1.11% 1.68%
Lipper Category Avg. Short Municipal Debt Funds 2.83% 5.48% 1.36% 1.30% 1.11% -
Bloomberg Municipal Bond Short 1-5 Year Index 2.47% 6.09% 0.90% 1.35% 1.41% 1.85%
w/ sales charge 0.77% 3.30% -0.11% 0.51% 0.88% 1.53%

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

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

CREDIT QUALITY DISTRIBUTION as of 11/29/2024

Rating Assets
A-1/MIG1
A-3/MIG3
AAA
AA
A
BBB
< BBB
Not Rated

INVESTMENT TEAM

Daniel S. Solender
Daniel S. Solender, CFA

Partner, Director of Tax Free Fixed Income

37 Years of Industry Experience

Daniel T. Vande Velde
Daniel T. Vande Velde

Partner, Portfolio Manager

34 Years of Industry Experience

Supported By 18 Investment Professionals with 12 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Worst as of 11/29/2024

3.56%

30-Day Standardized Yield 1 as of 11/30/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 2.76% 2.74%

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 3.26% 4.27% 0.70% 0.92% 1.10% 1.67%
Lipper Category Avg. Short Municipal Debt Funds 3.03% 3.87% 1.42% 1.27% 1.11% -
Bloomberg Municipal Bond Short 1-5 Year Index 2.42% 3.39% 0.91% 1.22% 1.39% 1.83%
w/ sales charge 0.92% 1.95% -0.06% 0.47% 0.87% 1.52%

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 3.11% 5.67% 0.64% 0.96% 1.11% 1.68%
Lipper Category Avg. Short Municipal Debt Funds 2.83% 5.48% 1.36% 1.30% 1.11% -
Bloomberg Municipal Bond Short 1-5 Year Index 2.47% 6.09% 0.90% 1.35% 1.41% 1.85%
w/ sales charge 0.77% 3.30% -0.11% 0.51% 0.88% 1.53%

Fund Expense Ratio :

Gross 0.66%

Net 0.65%

Year Fund Returns Bloomberg Municipal Bond Short 1-5 Year Index
2023 3.19% 3.58%
2022 -4.18% -3.17%
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% -
2012 2.16% -
2011 3.46% -
2010 2.17% -
2009 6.14% -
Year Q1 Q2 Q3 Q4
2024 0.37% 0.73% 1.98% -
2023 1.08% 0.03% -0.42% 2.49%
2022 -3.40% -0.92% -1.45% 1.60%
2021 0.00% 0.54% -0.25% 0.00%
2020 -1.67% 1.86% 0.96% 0.91%
2019 1.51% 1.24% 0.71% 0.55%
2018 -0.13% 0.51% 0.08% 0.63%
2017 0.92% 0.73% 0.40% -0.42%
2016 0.52% 0.60% 0.01% -1.77%
2015 0.31% -0.25% 0.52% 0.14%
2014 0.57% 0.56% 0.39% 0.06%
2013 0.54% -1.01% 0.17% 0.32%
2012 0.75% 0.64% 0.74% 0.02%
2011 0.53% 1.42% 0.97% 0.50%
2010 0.49% 0.95% 1.36% -0.63%
2009 2.36% 0.99% 2.26% 0.41%

Growth of $10,000 as of 11/30/2024

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

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

CREDIT QUALITY DISTRIBUTION as of 11/29/2024

Rating Assets
A-1/MIG1
A-3/MIG3
AAA
AA
A
BBB
< BBB
Not Rated

Portfolio Details as of 11/29/2024

Total Net Assets
$1.54 B
Average Effective Duration
2.61 Years
Average Effective Maturity
4.9 Years
Number of Issues
278
Average Yield to Worst
3.56%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 12/12/2024
$0.39446
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2024 $0.03667 $15.16
Daily Daily 10/31/2024 $0.03629 $15.08
Daily Daily 09/30/2024 $0.03648 $15.21
Daily Daily 08/31/2024 $0.03650 $15.15
Daily Daily 07/31/2024 $0.03447 $15.08
Daily Daily 06/30/2024 $0.03620 $15.02
Daily Daily 05/31/2024 $0.03606 $14.95
Daily Daily 04/30/2024 $0.03663 $14.96
Daily Daily 03/31/2024 $0.03515 $15.02
Daily Daily 02/29/2024 $0.03557 $15.04
Daily Daily 01/31/2024 $0.03445 $15.04

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 12/31/2024

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

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 12/12/2024

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $15.50
$100,000 to $249,999 1.75% 1.50% $15.42
Greater than $250,000 0.00% 1.00% $15.15

Expense Ratioas of 11/30/2024

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

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 Tailored Shareholder Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
* includes items 7-11 of form N-CSR as required, if any.

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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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