Sustainable Municipal Bond Fund
Daily price w/o sales charge as of 06/02/2023
$9.12
$0.00
YTD Returns w/o sales charge as of 06/02/2023
1.81%
Please click here for performance current to the most recent quarter-end and month-end.
Summary
Summary
Yield
Dividend Yield 1 as of 06/02/2023
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | 2.69% | 1.16% |
| w/ sales charge | 2.63% | 1.14% |
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | 2.57% | 0.19% |
Average Yield to Worst as of 04/28/2023 |
3.56% |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Yield-To-Worst - The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.
Fund Basicsas of 04/28/2023
- Total Net Assets
- $5.21 M
- Inception Date
- 01/24/2022
- Dividend Frequency
- Monthly
- Fund Gross Expense Ratio
- 2.16%
- Fund Net Expense Ratio
- 0.63%
- Number of Holdings
- 37
- Minimum Initial Investment
- $1,500+
Fund Expense Ratio :
Gross 2.16%
Net 0.63%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/20/2022 |
|---|
| w/o sales charge | 1.46% | 0.40% | - | - | - | -4.60% |
| Lipper Category Avg. Intermediate Municipal Debt Funds | - | - | - | - | - | - |
| Bloomberg 1-15 Year Municipal Index | 1.08% | 1.16% | - | - | - | -2.80% |
| w/ sales charge | -0.84% | -1.82% | - | - | - | -6.19% |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 2.16%
Net 0.63%
Fund Expense Ratio :
Gross 2.16%
Net 0.63%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/20/2022 |
|---|
| w/o sales charge | 2.22% | -0.72% | - | - | - | -4.62% |
| Lipper Category Avg. Intermediate Municipal Debt Funds | 2.25% | -0.10% | - | - | - | - |
| Bloomberg 1-15 Year Municipal Index | 2.27% | 1.60% | - | - | - | -2.24% |
| w/ sales charge | -0.09% | -2.97% | - | - | - | -6.43% |
Fund Expense Ratio :
Gross 2.16%
Net 0.63%
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.
CREDIT QUALITY DISTRIBUTION as of 04/28/2023 View Portfolio
| Rating | Assets |
|---|---|
| A-1/MIG1 | |
| AAA | |
| AA | |
| A | |
| BBB | |
| < BBB |
Ratings provided by Standard & Poor's, Moody's, and Fitch. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating. For a security with both a short-term and a long-term rating, Lord Abbett has categorized the security in the chart above using its short-term rating only. 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 are not rated. A-1/MIG1, A-2/MIG2 and A-3/MIG3 designations denote securities with less than a three-year maturity as well as superior (A-1/MIG1), strong (A-2/MIG2) and favorable (A-3/MIG3) credit quality. The credit quality breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Credit quality allocation reflects market value weightings.
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Portfolio
Portfolio
PORTFOLIO BREAKDOWN as of 04/28/2023
| Sector | Assets |
|---|---|
| Healthcare/Hospital | |
| Education | |
| Lease | |
| Transportation | |
| GO Local | |
| IDR/PCR | |
| Water & Sewer | |
| Housing | |
| Special Tax |
The Fund's portfolio is actively managed and is subject to change.
PORTFOLIO BREAKDOWN as of 04/28/2023
| Maturity | Assets |
|---|---|
| <1 Year | |
| 1-3 Years | |
| 3-5 Years | |
| 5-7 Years | |
| 7-9 Years | |
| 9-12 Years | |
| 12-15 Years | |
| 15-18 Years | |
| 25-30 Years |
The Fund's portfolio is actively managed and is subject to change.
PORTFOLIO BREAKDOWN as of 04/28/2023
| Rating | Assets |
|---|---|
| TX | |
| CA | |
| NY | |
| NJ | |
| MD | |
| CT | |
| OH | |
| IL | |
| FL | |
| LA | |
| VA | |
| MN | |
| PA | |
| AZ | |
| MI |
Credit QUALITY DISTRIBUTION as of 04/28/2023
| Rating | Assets |
|---|---|
| A-1/MIG1 | |
| AAA | |
| AA | |
| A | |
| BBB | |
| < BBB |
Ratings provided by Standard & Poor's, Moody's, and Fitch. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating. For a security with both a short-term and a long-term rating, Lord Abbett has categorized the security in the chart above using its short-term rating only. 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 are not rated. A-1/MIG1, A-2/MIG2 and A-3/MIG3 designations denote securities with less than a three-year maturity as well as superior (A-1/MIG1), strong (A-2/MIG2) and favorable (A-3/MIG3) credit quality. The credit quality breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Credit quality allocation reflects market value weightings.
Portfolio Details as of 04/28/2023
- Total Net Assets
- $5.21 M
- Number of Issues
- 37
- Average Coupon
- 4.5%
- Average Effective Maturity
- 7.9 Years
- Average Effective Duration
- 5.2 Years
- Average Yield to Worst
- 3.56%
To view definitions for the above Portfolio Details, Click here.
Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.
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.
Yield-To-Worst - The yield-to-worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. YTW is calculated by making worst-case scenario assumptions on the issue by calculating the return that would be received if the issuer uses provisions, including prepayments, calls or sinking funds. Average YTW is based on the weighted average YTW of the securities held in the Fund’s portfolio.
| Holding | Coupon | Maturity | Assets |
|---|
| Tarrant County Cultural Education Facilities Finan | 5.000% | 06/20/2053 | 5.5% |
| New Jersey Transportation Trust Fund Authority | 5.250% | 06/08/2036 | 4.5% |
| Board Of Managers Joint Guadalupe County-City Of S | 4.000% | 11/30/2026 | 3.8% |
| Connecticut State Health & Educational Facilities | 5.000% | 06/26/2028 | 3.5% |
| Duval County Public Schools | 5.000% | 06/29/2030 | 3.3% |
| Louisiana Public Facilities Authority | 5.000% | 10/08/2036 | 3.3% |
| Triborough Bridge & Tunnel Authority | 5.000% | 11/11/2027 | 3.3% |
| Norfolk Economic Development Authority | 5.000% | 10/21/2048 | 3.3% |
| State Of Ohio | 5.000% | 01/13/2030 | 3.2% |
| County Of Franklin Oh | 5.000% | 11/29/2029 | 3.2% |
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.
Holdings as of04/28/2023
| Holding | Coupon | Maturity | Assets |
|---|
| Tarrant County Cultural Education Facilities Finan | 5.000% | 06/20/2053 | 5.5% |
| New Jersey Transportation Trust Fund Authority | 5.250% | 06/08/2036 | 4.5% |
| Board Of Managers Joint Guadalupe County-City Of S | 4.000% | 11/30/2026 | 3.8% |
| Connecticut State Health & Educational Facilities | 5.000% | 06/26/2028 | 3.5% |
| Duval County Public Schools | 5.000% | 06/29/2030 | 3.3% |
| Louisiana Public Facilities Authority | 5.000% | 10/08/2036 | 3.3% |
| Triborough Bridge & Tunnel Authority | 5.000% | 11/11/2027 | 3.3% |
| Norfolk Economic Development Authority | 5.000% | 10/21/2048 | 3.3% |
| State Of Ohio | 5.000% | 01/13/2030 | 3.2% |
| County Of Franklin Oh | 5.000% | 11/29/2029 | 3.2% |
| Maryland Economic Development Corp | 5.375% | 06/24/2038 | 3.2% |
| California Community Choice Financing Authority | 5.000% | 11/20/2053 | 3.1% |
| Maryland Economic Development Corp | 5.000% | 11/06/2028 | 3.0% |
| New Jersey Health Care Facilities Financing Author | 5.000% | 06/30/2025 | 3.0% |
| Minnesota Higher Education Facilities Authority | 4.000% | 09/29/2029 | 2.9% |
| California Community Choice Financing Authority | 4.000% | 04/20/2053 | 2.9% |
| City Of Chicago Il Waterworks Revenue | 5.000% | 10/27/2029 | 2.9% |
| Connecticut State Health & Educational Facilities | 2.800% | 06/19/2057 | 2.9% |
| New Caney Independent School District | 1.250% | 08/14/2024 | 2.8% |
| Pennsylvania Economic Development Financing Author | 5.500% | 06/23/2037 | 2.7% |
| Fort Bend Independent School District | 0.875% | 07/22/2050 | 2.7% |
| Foothill-Eastern Transportation Corridor Agency | 5.000% | 01/13/2028 | 2.6% |
| Dutchess County Local Development Corp | 5.000% | 06/30/2027 | 2.6% |
| Arizona Industrial Development Authority | 3.625% | 05/14/2033 | 2.5% |
| Michigan Strategic Fund | 4.000% | 09/18/2061 | 2.4% |
| Maryland Community Development Administration | 3.500% | 02/19/2050 | 2.3% |
| Chicago Board Of Education | 4.000% | 11/24/2039 | 2.3% |
| Antelope Valley Healthcare District | 5.000% | 02/25/2026 | 2.3% |
| Triborough Bridge & Tunnel Authority | 5.000% | 11/10/2029 | 2.2% |
| County Of Osceola Fl Transportation Revenue | 5.000% | 09/29/2028 | 2.1% |
| Cleveland State University | 5.000% | 11/30/2025 | 2.1% |
| Build Nyc Resource Corp | 5.000% | 05/26/2032 | 2.0% |
| Jersey City Municipal Utilities Authority | 4.000% | 04/29/2024 | 1.9% |
| Northside Independent School District | 1.600% | 07/22/2049 | 1.9% |
| Lee Memorial Health System | 5.000% | 03/26/2029 | 1.1% |
| Stephen F Austin State University | 5.000% | 10/14/2026 | 0.5% |
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.
Performance
Performance
Dividend Yield 1 as of 06/02/2023
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | 2.69% | 1.16% |
| w/ sales charge | 2.63% | 1.14% |
30-Day Standardized Yield 2 as of 04/30/2023
| Subsidized5 | Un-Subsidized6 | |
|---|---|---|
| w/o sales charge | 2.57% | 0.19% |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Fund Expense Ratio :
Gross 2.16%
Net 0.63%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/20/2022 |
|---|
| w/o sales charge | 1.46% | 0.40% | - | - | - | -4.60% |
| Lipper Category Avg. Intermediate Municipal Debt Funds | - | - | - | - | - | - |
| Bloomberg 1-15 Year Municipal Index | 1.08% | 1.16% | - | - | - | -2.80% |
| w/ sales charge | -0.84% | -1.82% | - | - | - | -6.19% |
Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.
Fund Expense Ratio :
Gross 2.16%
Net 0.63%
Fund Expense Ratio :
Gross 2.16%
Net 0.63%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/20/2022 |
|---|
| w/o sales charge | 2.22% | -0.72% | - | - | - | -4.62% |
| Lipper Category Avg. Intermediate Municipal Debt Funds | 2.25% | -0.10% | - | - | - | - |
| Bloomberg 1-15 Year Municipal Index | 2.27% | 1.60% | - | - | - | -2.24% |
| w/ sales charge | -0.09% | -2.97% | - | - | - | -6.43% |
Fund Expense Ratio :
Gross 2.16%
Net 0.63%
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.
Fees & Expenses
Fees & Expenses
Sales Charge Schedule as of 06/02/2023
| Sales Charge | Dealer's Concession | Prices at Breakpoint | |
|---|---|---|---|
| Less than $100,000,000 | 0.00% | 0.00% | $9.33 |
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 of the 18-month anniversary of the purchase.
Expense Ratioas of 04/30/2023
| Fund Gross Expense Ratio | Fund Net Expense Ratio | |
|---|---|---|
| 2.16% | 0.63% |
Expense ratio details, Click here.
The net expense ratio takes into account contractual fee waivers/expense reimbursements that currently are scheduled to remain in place through 01/31/2024. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower. In addition, the net expense ratio takes into account deductions for certain interest and related expenses from certain of the Fund's investments. Under accounting rules, the Fund recognized additional income in an amount that directly offsets these interest and related expenses. Therefore, the Fund's total returns and net asset value were not affected by such interest and related expenses.
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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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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SAI
Publish Date:11/03/2015
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Annual Report
Publish Date:11/03/2015
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Semi-Annual Report
Publish Date:11/03/2015
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