LTRYX | Total Return Fund Class I | Lord Abbett

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Total Return Fund

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Daily price w/o sales charge as of 07/01/2022

$9.20

arrowUp$0.05

YTD Returns w/o sales charge as of 07/01/2022

-10.84%

Please click here for performance current to the most recent quarter-end and month-end.

Click here to view all legal text including risk information

Summary

Summary

What is the Total Return Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in U.S. investment grade corporate, government, and mortgage- and asset-backed securities, with select allocations to high yield and foreign debt securities.

 

EXPERIENCED INVESTMENT TEAM

Managed through collaboration among 40+ investment professionals in portfolio management, credit research, and trading.

DISCIPLINED, FLEXIBLE APPROACH

Utilizes a blend of fundamental research and quantitative analysis in seeking to add value through sector rotation, security selection, and rigorous risk management.

CONSISTENT, RISK-ADJUSTED RETURNS

Has offered a track record of generating above-average returns with below-average risk in a variety of market environments, versus its peers in the Morningstar Intermediate-Term Bond Category.

 

Yield

Dividend Yield 1 as of 07/01/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.41% 3.37%

30-Day Standardized Yield 2 as of 05/31/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.69% 3.65%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Basicsas of 05/31/2022

Total Net Assets
$3.35 B
Inception Date
12/14/1998
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.44%
Fund Net Expense Ratio
0.40%
Number of Holdings
450
Minimum Initial Investment

+Minimum Exceptions, View Full Disclosure

There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").
Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus. 

Fund Expense Ratio :

Gross 0.44%

Net 0.40%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/14/1998
w/o sales charge -11.33% -11.14% -0.85% 0.86% 1.96% 4.60%
Lipper Category Avg. Core Bond Funds - - - - - -
Bloomberg U.S. Aggregate Bond Index -10.35% -10.29% -0.93% 0.88% 1.54% 3.98%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.44%

Net 0.40%

Fund Expense Ratio :

Gross 0.44%

Net 0.40%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/14/1998
w/o sales charge -11.33% -11.14% -0.85% 0.86% 1.96% 4.60%
Lipper Category Avg. Core Bond Funds - - - - - -
Bloomberg U.S. Aggregate Bond Index -10.35% -10.29% -0.93% 0.88% 1.54% 3.98%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.44%

Net 0.40%

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.

Type Assets
Investment Grade Corporate
U.S. Government Related
MBS
ABS
High Yield Corporate
CMBS
CLO
Sovereign
Bank Loans
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 05/31/2022 View Portfolio

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the median, but if there are only two ratings, the lower rating is used. 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 may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

INVESTMENT TEAM

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

28 Years of Industry Experience

Andrew H. O'Brien
Andrew H. O'Brien, CFA

Partner & Portfolio Manager

24 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

21 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

31 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Managing Director, Portfolio Manager

14 Years of Industry Experience

Leah G. Traub
Leah G. Traub, Ph.D.

Partner & Portfolio Manager

21 Years of Industry Experience

Harris Trifon
Harris Trifon

Managing Director, Portfolio Manager

22 Years of Industry Experience

Supported By 67 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 07/01/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.41% 3.37%

30-Day Standardized Yield 2 as of 05/31/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 3.69% 3.65%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

Gross 0.44%

Net 0.40%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/14/1998
w/o sales charge -11.33% -11.14% -0.85% 0.86% 1.96% 4.60%
Lipper Category Avg. Core Bond Funds - - - - - -
Bloomberg U.S. Aggregate Bond Index -10.35% -10.29% -0.93% 0.88% 1.54% 3.98%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.44%

Net 0.40%

Fund Expense Ratio :

Gross 0.44%

Net 0.40%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/14/1998
w/o sales charge -11.33% -11.14% -0.85% 0.86% 1.96% 4.60%
Lipper Category Avg. Core Bond Funds - - - - - -
Bloomberg U.S. Aggregate Bond Index -10.35% -10.29% -0.93% 0.88% 1.54% 3.98%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.44%

Net 0.40%

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.

Year Fund Returns Bloomberg U.S. Aggregate Bond Index
2021 0.14% -1.54%
2020 7.61% 7.51%
2019 8.56% 8.72%
2018 -0.60% 0.01%
2017 3.93% 3.54%
2016 4.25% 2.65%
2015 -0.44% 0.55%
2014 6.33% 5.97%
2013 -1.19% -2.02%
2012 7.93% 4.22%
2011 7.40% -
2010 7.92% -
2009 16.07% -
2008 -0.97% -
2007 6.06% -
2006 4.63% -
2005 2.67% -
2004 4.57% -
2003 5.42% -
2002 9.21% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -5.69% -5.98% - - -10.84%
2021 -2.36% 2.33% 0.11% 0.12% 0.14%
2020 -1.11% 4.58% 1.89% 2.12% 7.61%
2019 3.28% 3.05% 1.72% 0.28% 8.56%
2018 -1.36% -0.29% 0.32% 0.75% -0.60%
2017 1.19% 1.48% 0.89% 0.32% 3.93%
2016 2.86% 2.76% 1.19% -2.53% 4.25%
2015 1.63% -1.45% 0.00% -0.60% -0.44%
2014 2.38% 2.55% 0.11% 1.16% 6.33%
2013 0.54% -2.76% 0.54% 0.52% -1.19%
2012 1.87% 1.99% 2.76% 1.09% 7.93%
2011 1.06% 2.14% 2.43% 1.58% 7.40%
2010 2.49% 2.90% 3.36% -0.99% 7.92%
2009 2.51% 5.71% 6.31% 0.75% 16.07%
2008 1.07% 0.05% -1.96% -0.10% -0.97%
2007 1.47% -0.65% 2.82% 2.33% 6.06%
2006 -0.29% -0.19% 3.81% 1.27% 4.63%
2005 -0.19% 3.01% -0.62% 0.48% 2.67%
2004 2.42% -2.29% 3.30% 1.16% 4.57%
2003 1.48% 3.09% 0.00% 0.76% 5.42%
2002 0.13% 2.41% 3.66% 2.75% 9.21%
2001 3.51% 0.44% 4.80% 0.49% 9.50%
2000 2.12% 2.18% 3.45% 4.70% 13.01%
1999 0.10% -0.80% 1.00% 0.39% 0.69%
1998 - - - - 0.40%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
Investment Grade Corporate
U.S. Government Related
MBS
ABS
High Yield Corporate
CMBS
CLO
Sovereign
Bank Loans
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Rating Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 05/31/2022

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the median, but if there are only two ratings, the lower rating is used. 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 may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Portfolio Positioning as of 3/31/2022

  • Over the quarter, we added to the portfolio’s bank loan allocation as we continue to favor floating rate credit risk. We believe the asset class will continue to benefit from strong fundamentals and robust technicals.
  • We added to agency mortgage-backed securities (MBS) over the quarter - closing some of our underweight relative to the benchmark and peers. This decision was a relative value trade on recent weakness/underperformance of agency MBS versus other fixed income sectors. However, we plan on remaining underweight agency MBS as the technical backdrop is poor for the asset class given the Fed is likely to shift from a net buyer to net seller by year end.
  • In addition, we added to non-agency RMBS - both non-qualified mortgages and credit risk transfer securities (CRT). We believe strong buyer and refi activity will continue supporting the non-QM market. Also, CRT securities provide a liquid source to gain residential housing credit exposure through mortgages that have been underwritten by government sponsored entities (GSE). Both allocations provide strong risk-adjusted carry, in our opinion.
  • We used the sales of U.S. Treasuries and cash equivalents to fund the purchases of these additions over the quarter.

Portfolio Details as of 05/31/2022

Total Net Assets
$3.35 B
Number of Issues
450
Average Coupon
3.37%
Average Life
7.27 Years
Average Maturity
7.24 Years
Average Effective Duration
6.46 Years

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 Life - Measures how long it will take, on average, to receive the repayment of the principal amount on a debt security.  Average life is often used in connection with mortgage-backed securities as a measurement of the length of time, on average, before the underlying mortgages are paid, refinanced, or otherwise retired.

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.

Holding Coupon Maturity Assets
30-YR UMBS-TBA PROD JUL 3.500% 04/01/2052 5.6%
United States Treasury Note/Bond 2.875% 05/15/2032 4.5%
United States Treasury Note/Bond 2.500% 05/31/2024 3.2%
United States Treasury Note/Bond 2.500% 04/30/2024 3.0%
United States Treasury Note/Bond 2.250% 02/15/2052 2.4%
30-YR UMBS-TBA PROD JUL 3.000% 04/01/2052 2.2%
United States Treasury Note/Bond 2.500% 03/31/2027 2.2%
UNITED STATES TREASURY NOTE/BO 2.750% 04/30/2027 2.1%
United States Treasury Note/Bond 2.375% 02/15/2042 2.1%
30-YR UMBS-TBA PROD JUL 4.000% 04/01/2052 1.9%
% of Total Assets 29.2%
Holding Coupon Maturity Assets
30-YR UMBS-TBA PROD JUL3.500% 04/01/20525.6%
United States Treasury Note/Bond2.875% 05/15/20324.5%
United States Treasury Note/Bond2.500% 05/31/20243.2%
United States Treasury Note/Bond2.500% 04/30/20243.0%
United States Treasury Note/Bond2.250% 02/15/20522.4%
30-YR UMBS-TBA PROD JUL3.000% 04/01/20522.2%
United States Treasury Note/Bond2.500% 03/31/20272.2%
UNITED STATES TREASURY NOTE/BO2.750% 04/30/20272.1%
United States Treasury Note/Bond2.375% 02/15/20422.1%
30-YR UMBS-TBA PROD JUL4.000% 04/01/20521.9%
UNITED STATES TREASURY NOTE/BO2.750% 05/15/20251.7%
Japan Treasury Discount Bill0.000% 08/08/20221.5%
30-YR UMBS-TBA PROD JUL4.500% 04/01/20521.4%
30-YR GNMA II-TBA PROD JUL4.000% 04/01/20521.0%
Capital One Prime Auto Receivables Trust 2022-12.710% 06/16/20251.0%
Kommunalbanken AS1.397% 06/17/20260.8%
Fannie Mae Pool3.000% 12/01/20480.8%
Citigroup Inc3.980% 03/20/20300.8%
Morgan Stanley4.431% 01/23/20300.7%
CPPIB Capital Inc1.703% 04/04/20250.7%
Oracle Corp2.875% 03/25/20310.7%
30-YR GNMA II-TBA PROD JUL4.500% 08/01/20510.7%
United States Treasury Inflation Indexed Bonds0.250% 02/15/20500.6%
Caisse d'Amortissement de la Dette Sociale3.000% 05/17/20250.6%
Wells Fargo & Co2.393% 06/02/20280.6%
Intercontinental Exchange Inc4.000% 09/15/20270.6%
30-YR GNMA II-TBA PROD JUL3.500% 04/01/20520.5%
Glencore Funding LLC4.875% 03/12/20290.5%
GM Financial Automobile Leasing Trust 2022-22.930% 10/21/20240.5%
Continental Resources Inc/OK5.750% 01/15/20310.5%
Westpac Banking Corp4.322% 11/23/20310.5%
CIFC Funding 2021-I Ltd2.294% 04/25/20330.5%
Fairstone Financial Issuance Trust I5.162% 10/20/20390.5%
Perimeter Master Note Business Trust4.230% 05/15/20240.4%
Genesis Sales Finance Master Trust1.650% 09/22/20250.4%
JPMorgan Chase & Co3.540% 05/01/20280.4%
Asian Development Bank1.460% 04/06/20270.4%
Lamar Media Corp2.428% 02/05/20270.4%
nVent Finance Sarl4.550% 04/15/20280.4%
Southern Co/The0.000% 08/01/20240.4%
BX Trust 2021-ARIA3.119% 10/15/20360.4%
Citigroup Inc3.887% 01/10/20280.4%
Anglo American Capital PLC4.000% 09/11/20270.4%
BRAVO Residential Funding Trust 2021-NQM20.970% 03/25/20600.4%
ME Funding LLC 2019-16.448% 07/30/20490.4%
Goldman Sachs Group Inc/The0.627% 11/17/20230.4%
Goldman Sachs Group Inc/The2.383% 07/21/20320.4%
Japan Bank for International Cooperation2.500% 06/01/20220.4%
EQT Corp7.500% 02/01/20300.4%
FirstEnergy Corp4.400% 07/15/20270.4%
Great Wolf Trust 2019-WOLF1.909% 12/15/20360.4%
Dryden Senior Loan Fund2.514% 04/15/20280.4%
30-YR GNMA II-TBA PROD JUN4.500% 08/01/20510.4%
Ready Capital Mortgage Financing 2022-FL8 LLC2.234% 01/25/20370.4%
Danske Bank A/S3.773% 03/28/20250.4%
Aviation Capital Group LLC5.500% 12/15/20240.4%
Hertz Vehicle Financing III LP1.680% 12/27/20270.4%
Signal Peak CLO 8 Ltd2.333% 04/20/20330.4%
Occidental Petroleum Corp6.625% 09/01/20300.4%
Bank of America Corp2.687% 04/22/20320.4%
Charter Communications Operating LLC / Charter Communications Operating Capital2.250% 01/15/20290.3%
Freddie Mac STACR REMIC Trust 2021-HQA32.684% 09/25/20410.3%
Rad CLO 7 Ltd2.263% 04/17/20330.3%
Tencent Holdings Ltd2.390% 06/03/20300.3%
Capital One Financial Corp4.166% 05/09/20250.3%
Baidu Inc2.375% 08/23/20310.3%
Lending Funding Trust 2020-22.320% 04/21/20310.3%
Exeter Automobile Receivables Trust 2020-33.440% 08/17/20260.3%
Wells Fargo & Co3.584% 05/22/20280.3%
VERDE CLO Ltd2.144% 04/15/20320.3%
CSMC 2021-BHAR2.875% 11/15/20380.3%
Westlake Automobile Receivables Trust 2021-12.330% 08/17/20260.3%
Santander UK Group Holdings PLC3.373% 01/05/20240.3%
Bank of America Corp3.593% 07/21/20280.3%
COMM 2014-UBS4 Mortgage Trust4.712% 08/10/20470.3%
UnitedHealth Group Inc4.000% 05/15/20290.3%
BX Trust 2018-GW1.675% 05/15/20350.3%
One New York Plaza Trust 2020-1NYP2.375% 01/15/20360.3%
Avolon Holdings Funding Ltd2.125% 02/21/20260.3%
General Motors Financial Co Inc3.600% 06/21/20300.3%
GA Global Funding Trust3.850% 04/11/20250.3%
Inter-American Investment Corp2.625% 04/22/20250.3%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust3.500% 01/15/20250.3%
Petroleos Mexicanos6.700% 02/16/20320.3%
Flagship Credit Auto Trust 2018-45.510% 03/16/20260.3%
Vistra Operations Co LLC3.550% 07/15/20240.3%
Macquarie Group Ltd4.654% 03/27/20290.3%
UBS AG5.125% 05/15/20240.3%
Rockford Tower CLO 2018-1 Ltd2.578% 05/20/20310.3%
Macquarie Group Ltd2.691% 06/23/20320.3%
BNP Paribas SA4.375% 03/01/20330.3%
GS Mortgage Securities Corp II2.525% 11/15/20360.3%
Constellation Energy Generation LLC6.250% 10/01/20390.3%
Carvana Auto Receivables Trust 2020-NP15.200% 07/15/20270.3%
SEB Funding LLC4.969% 01/30/20520.3%
Delta Air Lines Inc7.000% 05/01/20250.3%
SCF Equipment Leasing 2019-2 LLC2.760% 08/20/20260.3%
Ford Motor Co3.250% 02/12/20320.3%
Kommuninvest I Sverige AB2.750% 03/01/20250.3%
Ally Financial Inc8.000% 11/01/20310.3%
Japan International Cooperation Agency3.250% 05/25/20270.3%
COMM 2015-DC1 Mortgage Trust4.298% 02/10/20480.3%
Cargill Inc4.000% 06/22/20320.3%
Westlake Automobile Receivables Trust 2020-33.340% 06/15/20260.3%
Invitation Homes Operating Partnership LP2.000% 08/15/20310.3%
Playtika Holding Corp3.810% 03/13/20280.2%
Bank of America Corp2.087% 06/14/20290.2%
Genesis Sales Finance Master Trust1.450% 12/21/20260.2%
LoanCore 2022-CRE7 Issuer Ltd1.965% 01/17/20370.2%
AAdvantage Loyalty IP Ltd5.813% 04/20/20280.2%
Fannie Mae Pool4.000% 05/01/20520.2%
SCF Equipment Leasing 2021-1 LLC1.930% 09/20/20300.2%
CARLYLE US CLO 2019-1 LTD2.143% 04/20/20310.2%
EPR Properties3.750% 08/15/20290.2%
National Fuel Gas Co5.500% 01/15/20260.2%
Arbor Realty Commercial Real Estate Notes 2021-FL2 Ltd3.375% 05/15/20360.2%
JPMorgan Chase & Co2.963% 01/25/20330.2%
EIG Pearl Holdings Sarl3.545% 08/31/20360.2%
CIM Retail Portfolio Trust 2021-RETL4.625% 08/15/20360.2%
Freddie Mac STACR REMIC Trust 2021-HQA41.534% 12/25/20410.2%
Galaxy Pipeline Assets Bidco Ltd3.250% 09/30/20400.2%
Wells Fargo & Co3.350% 03/02/20330.2%
Avolon TLB Borrower 1 US LLC3.177% 12/01/20270.2%
CARLYLE US CLO 2017-3 Ltd1.963% 07/20/20290.2%
Lendmark Funding Trust 2021-11.900% 11/20/20310.2%
Deephaven Residential Mortgage Trust 2021-31.194% 08/25/20660.2%
Freddie Mac STACR REMIC Trust 2021-DNA32.684% 10/25/20330.2%
Minejesa Capital BV4.625% 08/10/20300.2%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT2.332% 07/05/20330.2%
Gracie Point International Funding 2020-B3.200% 05/02/20230.2%
Centene Corp4.250% 12/15/20270.2%
Morgan Stanley2.239% 07/21/20320.2%
Marble Point CLO XVII Ltd2.363% 04/20/20330.2%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.2%
Angel Oak Mortgage Trust 2022-34.000% 01/10/20670.2%
Extended Stay America Trust 2021-ESH2.575% 07/15/20380.2%
Verus Securitization Trust 2021-21.031% 02/25/20660.2%
COMM 2015-PC1 Mortgage Trust4.304% 07/10/20500.2%
GS Mortgage Securities Corp Trust 2021-ROSS5.525% 05/15/20260.2%
BankUnited Inc5.125% 06/11/20300.2%
Avis Budget Rental Car Funding AESOP LLC4.080% 02/20/20280.2%
Broadcom Inc4.150% 04/15/20320.2%
Connecticut Avenue Securities Trust 2021-R012.134% 10/25/20410.2%
British Airways 2020-1 Class A Pass Through Trust4.250% 05/15/20340.2%
Ovintiv Inc6.500% 02/01/20380.2%
SCIENTIFIC GAMES INTL INC.3.882% 04/14/20290.2%
EPR Properties4.950% 04/15/20280.2%
Oaktree CLO 2019-4 Ltd3.313% 10/20/20320.2%
Atrium Hotel Portfolio Trust 2018-ATRM1.825% 06/15/20350.2%
AES Corp/The3.950% 07/15/20300.2%
BHMS 2018-ATLS2.125% 07/15/20350.2%
Barings CLO Ltd 2019-III2.663% 04/20/20310.2%
Mountain View CLO 2017-1 LLC2.153% 10/16/20290.2%
New Jersey Transportation Trust Fund Authority4.131% 06/15/20420.2%
DBWF 2018-GLKS Mortgage Trust1.958% 12/19/20300.2%
KIND Trust 2021-KIND3.175% 08/15/20380.2%
AMMC CLO 23 Ltd3.063% 10/17/20310.2%
Westpac Banking Corp2.894% 02/04/20300.2%
Ready Capital Mortgage Financing 2021-FL6 LLC2.906% 07/25/20360.2%
Dell International LLC / EMC Corp8.350% 07/15/20460.2%
Ballyrock CLO 2020-2 Ltd2.073% 10/20/20310.2%
Aircastle Ltd2.850% 01/26/20280.2%
Wind River 2021-4 CLO Ltd2.713% 01/20/20350.2%
Nelnet Student Loan Trust 2021-D2.900% 04/20/20620.2%
Mariner Finance Issuance Trust 2021-B3.420% 11/20/20360.2%
Freddie Mac Structured Agency Credit Risk Debt Notes2.384% 11/25/20410.2%
Jane Street Group LLC3.810% 01/26/20280.2%
Amentum Government Services Holdings LLC4.560% 01/29/20270.2%
CBAM 2017-1 Ltd4.813% 07/20/20300.2%
Fannie Mae Pool4.000% 05/01/20520.2%
Quikrete Holdings Inc3.685% 02/01/20270.2%
Freddie Mac STACR REMIC Trust 2021-DNA62.084% 10/25/20410.2%
JPMorgan Chase & Co3.782% 02/01/20280.2%
Signal Peak CLO 2 LLC3.913% 04/20/20290.2%
Trans Union LLC3.310% 12/01/20280.2%
Glencore Funding LLC2.850% 04/27/20310.2%
SeaWorld Parks & Entertainment Inc4.063% 08/25/20280.2%
Acrisure LLC4.560% 02/15/20270.2%
Live Nation Entertainment Inc4.750% 10/15/20270.2%
Bank of America Corp3.970% 03/05/20290.2%
Braskem Netherlands Finance BV4.500% 01/31/20300.2%
Perimeter Master Note Business Trust4.170% 05/15/20240.2%
Netflix Inc6.375% 05/15/20290.2%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust3.875% 01/23/20280.2%
Blackstone Mortgage Trust Inc3.750% 01/15/20270.2%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.2%
Avolon Holdings Funding Ltd4.250% 04/15/20260.2%
Bank of America Corp3.004% 12/20/20230.2%
Cemex SAB de CV5.450% 11/19/20290.2%
Race Point IX CLO Ltd4.244% 10/15/20300.2%
Consumer Loan Underlying Bond CLUB Credit Trust 2019-P24.410% 10/15/20260.2%
CS Master Trust4.824% 04/15/20250.2%
Packaging Coordinators Midco Inc4.756% 11/30/20270.2%
SLC Student Loan Trust 2008-12.426% 12/15/20320.2%
Charter Communications Operating LLC / Charter Communications Operating Capital6.484% 10/23/20450.2%
Claros Mortgage Trust Inc5.000% 08/09/20260.2%
Morgan Stanley2.484% 09/16/20360.2%
Goldman Sachs Group Inc/The2.615% 04/22/20320.2%
Angel Oak Mortgage Trust 2021-31.068% 05/25/20660.2%
Time Warner Entertainment Co LP8.375% 07/15/20330.2%
CPS Auto Receivables Trust 2020-C1.710% 08/17/20260.1%
FactSet Research Systems Inc3.450% 03/01/20320.1%
Physicians Realty LP2.625% 11/01/20310.1%
Dell International LLC / EMC Corp3.375% 12/15/20410.1%
Anglo American Capital PLC3.875% 03/16/20290.1%
Elmwood CLO VIII Ltd2.613% 01/20/20340.1%
Viterra Finance BV4.900% 04/21/20270.1%
Egypt Government International Bond5.800% 09/30/20270.1%
Carlyle Global Market Strategies CLO 2015-5 Ltd3.363% 01/20/20320.1%
SUNSHINE INVESTMENTS B V0.000% 04/21/20290.1%
Bank of America Corp4.000% 01/22/20250.1%
Fannie Mae Connecticut Avenue Securities2.584% 11/25/20410.1%
BFLD 2019-DPLO3.415% 10/15/20340.1%
ABN AMRO Bank NV3.324% 03/13/20370.1%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.875% 04/15/20450.1%
Apidos CLO XXXV2.113% 04/20/20340.1%
Eastern Gas Transmission & Storage Inc3.000% 11/15/20290.1%
World Omni Auto Receivables Trust 2021-A0.170% 02/15/20240.1%
Lendmark Funding Trust 2021-23.090% 04/20/20320.1%
Alfa Desarrollo SpA4.550% 09/27/20510.1%
Aviation Capital Group LLC1.950% 01/30/20260.1%
First American Financial Corp2.400% 08/15/20310.1%
Bank of America Corp1.658% 03/11/20270.1%
Bayer Corp6.650% 02/15/20280.1%
Netflix Inc5.875% 11/15/20280.1%
MHP Lux SA6.250% 09/19/20290.1%
Buckeye Partners LP6.375% 01/22/20780.1%
GS Mortgage Securities Corp Trust 2018-RIVR1.825% 07/15/20350.1%
KUEHG Corp4.756% 02/21/20250.1%
Toyota Auto Receivables 2021-A Owner Trust0.160% 07/17/20230.1%
Carvana Auto Receivables Trust 2019-34.600% 07/15/20260.1%
CF Trust 2019-BOSS4.750% 12/15/20240.1%
Range Resources Corp8.250% 01/15/20290.1%
COMM 2015-PC1 Mortgage Trust4.304% 07/10/20500.1%
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara3.000% 06/30/20300.1%
American Airlines Group Inc3.750% 03/01/20250.1%
Verus Securitization Trust 2020-51.218% 05/25/20650.1%
Callon Petroleum Co8.000% 08/01/20280.1%
Tricolor Auto Securitization Trust 2021-13.230% 09/15/20260.1%
Tenet Healthcare Corp4.875% 01/01/20260.1%
Weatherford International Ltd8.625% 04/30/20300.1%
BBCMS 2019-BWAY Mortgage Trust1.831% 11/15/20340.1%
TransDigm Inc6.375% 06/15/20260.1%
Life Time Inc5.750% 01/15/20260.1%
Comstock Resources Inc6.750% 03/01/20290.1%
Hardee's Funding LLC4.959% 06/20/20480.1%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.1%
Freeport-McMoRan Inc4.125% 03/01/20280.1%
Calpine Corp5.000% 02/01/20310.1%
Nigeria Government International Bond7.143% 02/23/20300.1%
Heartland Dental LLC4.560% 04/30/20250.1%
Sunrun Demeter Issuer 2021-2 LLC2.270% 01/30/20570.1%
Staples Inc7.500% 04/15/20260.1%
Alcoa Nederland Holding BV4.125% 03/31/20290.1%
Mercer International Inc5.125% 02/01/20290.1%
Genesis Sales Finance Master Trust2.090% 12/21/20260.1%
Wells Fargo Commercial Mortgage Trust 2015-SG14.454% 09/15/20480.1%
BHMS 2018-ATLS2.775% 07/15/20350.1%
Station Casinos LLC3.310% 02/08/20270.1%
Carmax Auto Owner Trust 2021-10.220% 02/15/20240.1%
Toll Brothers Finance Corp4.350% 02/15/20280.1%
CIFC Funding 2014-V Ltd2.263% 10/17/20310.1%
GREYWOLF CLO VII Ltd2.243% 10/20/20310.1%
Navient Corp5.000% 03/15/20270.1%
Sprint Capital Corp6.875% 11/15/20280.1%
Delta Air Lines Inc / SkyMiles IP Ltd4.750% 10/20/20280.1%
Foothill-Eastern Transportation Corridor Agency4.094% 01/15/20490.1%
CEC Entertainment LLC6.750% 05/01/20260.1%
Charles River Laboratories International Inc4.250% 05/01/20280.1%
Gartner Inc3.750% 10/01/20300.1%
Red Planet Borrower LLC4.756% 10/02/20280.1%
Hudsons Bay Simon JV Trust 2015-HBS4.666% 08/05/20340.1%
Atkore Inc4.250% 06/01/20310.1%
Laredo Petroleum Inc9.500% 01/15/20250.1%
Delta Air Lines Inc / SkyMiles IP Ltd4.500% 10/20/20250.1%
Go Daddy Operating Co LLC / GD Finance Co Inc3.500% 03/01/20290.1%
Organon & Co / Organon Foreign Debt Co-Issuer BV4.125% 04/30/20280.1%
Cheniere Energy Partners LP3.250% 01/31/20320.1%
Life 2021-BMR Mortgage Trust2.625% 03/15/20380.1%
CSAIL 2016-C7 Commercial Mortgage Trust4.381% 11/15/20490.1%
Novelis Corp3.875% 08/15/20310.1%
GSK Consumer Healthcare Capital US LLC3.625% 03/24/20320.1%
Frontier Communications Holdings LLC5.000% 05/01/20280.1%
Kennedy-Wilson Inc4.750% 02/01/20300.1%
Mariner Finance Issuance Trust 2021-B4.680% 11/20/20360.1%
American Airlines Inc11.750% 07/15/20250.1%
Mohegan Gaming & Entertainment8.000% 02/01/20260.1%
Prosus NV3.257% 01/19/20270.1%
Invitation Homes Operating Partnership LP2.300% 11/15/20280.1%
United States Steel Corp6.875% 03/01/20290.1%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.1%
Mozart Debt Merger Sub Inc3.875% 04/01/20290.1%
Option Care Health Inc4.375% 10/31/20290.1%
Venture Global Calcasieu Pass LLC4.125% 08/15/20310.1%
Hilcorp Energy I LP / Hilcorp Finance Co5.750% 02/01/20290.1%
SM Energy Co6.750% 09/15/20260.1%
Bombardier Inc6.000% 02/15/20280.1%
Levi Strauss & Co3.500% 03/01/20310.1%
KKR CLO 30 Ltd3.063% 10/17/20310.1%
ZipRecruiter Inc5.000% 01/15/20300.1%
Radiology Partners Inc9.250% 02/01/20280.1%
TSMC Arizona Corp3.250% 10/25/20510.1%
NGPL PipeCo LLC3.250% 07/15/20310.1%
Clear Channel Outdoor Holdings Inc7.750% 04/15/20280.1%
AppLovin Corp4.060% 10/25/20280.1%
Toll Brothers Finance Corp3.800% 11/01/20290.1%
Scientific Games Holdings LP4.175% 04/04/20290.1%
Flagship Credit Auto Trust 2021-10.310% 06/16/20250.1%
Angolan Government International Bond8.750% 04/14/20320.1%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.1%
CNX Midstream Partners LP4.750% 04/15/20300.1%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC3.500% 03/15/20290.1%
SunCoke Energy Inc4.875% 06/30/20290.1%
Murphy Oil USA Inc4.750% 09/15/20290.1%
Hilton Domestic Operating Co Inc4.875% 01/15/20300.1%
Jacobs Entertainment Inc6.750% 02/15/20290.1%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN2.145% 11/15/20350.1%
Fannie Mae Pool3.500% 09/01/20510.1%
HGI CRE CLO 2021-FL1 Ltd3.225% 06/16/20360.1%
Citigroup Inc4.140% 05/24/20250.1%
Condor Merger Sub Inc7.375% 02/15/20300.1%
Royal Caribbean Cruises Ltd5.500% 04/01/20280.1%
COMM 2015-PC1 Mortgage Trust4.290% 07/10/20500.1%
CHS/Community Health Systems Inc4.750% 02/15/20310.1%
Frontier Communications Holdings LLC5.875% 11/01/20290.1%
Starwood Mortgage Residential Trust 2020-31.486% 04/25/20650.1%
NRG Energy Inc4.450% 06/15/20290.1%
CS Master Trust5.052% 04/15/20230.1%
Century Communities Inc3.875% 08/15/20290.1%
American Campus Communities Operating Partnership LP2.250% 01/15/20290.1%
LBM Acquisition LLC6.250% 01/15/20290.1%
TK Elevator US Newco Inc5.250% 07/15/20270.1%
Lendmark Funding Trust 2021-24.460% 04/20/20320.1%
New York City Transitional Finance Authority Future Tax Secured Revenue1.950% 08/01/20340.1%
Madison IAQ LLC5.875% 06/30/20290.1%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.500% 03/15/20270.1%
Entegris Inc3.625% 05/01/20290.1%
Apidos CLO XXVI2.563% 07/18/20290.1%
Ghana Government International Bond6.375% 02/11/20270.1%
Freeport-McMoRan Inc5.450% 03/15/20430.1%
Coinbase Global Inc3.375% 10/01/20280.1%
Time Warner Cable LLC7.300% 07/01/20380.1%
Party City Holdings Inc8.750% 02/15/20260.1%
CHS/Community Health Systems Inc6.125% 04/01/20300.1%
Planet Fitness Master Issuer LLC3.858% 12/05/20490.1%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT4.950% 07/05/20330.1%
ELEMENT MAT TEC GR US HLD INC0.000% 04/12/20290.1%
HONO 2021-LULU Mortgage Trust2.325% 10/15/20360.1%
Centene Corp2.450% 07/15/20280.1%
Assurant Inc2.650% 01/15/20320.1%
Freeport Indonesia PT5.315% 04/14/20320.1%
Alcoa Nederland Holding BV6.125% 05/15/20280.1%
Wells Fargo Commercial Mortgage Trust 2013-LC124.304% 07/15/20460.1%
Hudsons Bay Simon JV Trust 2015-HBS5.159% 08/05/20340.1%
SCF Equipment Leasing 2021-1 LLC3.560% 08/20/20320.1%
TSMC Global Ltd2.250% 04/23/20310.1%
Macquarie Bank Ltd3.624% 06/03/20300.1%
Seminole Tribe of Florida Inc2.810% 07/08/20240.1%
CSMC 2014-USA OA LLC4.373% 09/15/20370.1%
Wells Fargo Commercial Mortgage Trust 2016-C354.176% 07/15/20480.1%
PVH Corp7.750% 11/15/20230.1%
Vista Point Securitization Trust 2020-21.475% 04/25/20650.1%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust4.875% 01/16/20240.1%
Royal Caribbean Cruises Ltd11.500% 06/01/20250.1%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT2.032% 07/05/20330.1%
FMG Resources August 2006 Pty Ltd4.500% 09/15/20270.1%
JPMBB Commercial Mortgage Securities Trust 2015-C304.233% 07/15/20480.1%
Tengizchevroil Finance Co International Ltd3.250% 08/15/20300.1%
MEG Energy Corp5.875% 02/01/20290.1%
Genesis Sales Finance Master Trust4.710% 09/22/20250.1%
Parallel 2017-1 Ltd2.093% 07/20/20290.1%
HGI CRE CLO 2021-FL1 Ltd2.575% 06/16/20360.1%
UBS-BAMLL Trust4.238% 06/10/20300.1%
California Resources Corp7.125% 02/01/20260.1%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT4.549% 07/05/20330.1%
Fairstone Financial Issuance Trust I6.873% 10/20/20390.1%
Sri Lanka Government International Bond5.875% 07/25/20220.1%
Credit Index Swap5.000% 06/20/20270.1%
Phosagro OAO Via Phosagro Bond Funding DAC2.600% 09/16/20280.1%
County of Miami-Dade FL2.786% 10/01/20370.1%
Goldentree Loan Management US Clo 3 Ltd2.613% 04/20/20300.1%
Galaxy XXI CLO Ltd2.083% 04/20/20310.1%
CCO Holdings LLC / CCO Holdings Capital Corp5.000% 02/01/20280.1%
Tenet Healthcare Corp6.250% 02/01/20270.1%
Arbor Realty Commercial Real Estate Notes 2021-FL2 Ltd3.825% 05/15/20360.1%
MSCI Inc3.625% 11/01/20310.1%
Occidental Petroleum Corp6.125% 01/01/20310.1%
Towd Point Asset Trust 2018-SL11.606% 01/25/20460.1%
Regents of the University of California Medical Center Pooled Revenue3.006% 05/15/20500.1%
CCO Holdings LLC / CCO Holdings Capital Corp4.750% 03/01/20300.1%
BBCMS 2019-BWAY Mortgage Trust2.185% 11/15/20340.1%
HONO 2021-LULU Mortgage Trust2.725% 10/15/20360.1%
Massachusetts Educational Financing Authority2.134% 04/25/20380.1%
ReadyCap Commercial Mortgage Trust 2019-62.833% 10/25/20520.1%
Ford Credit Auto Lease Trust 2021-A0.190% 07/15/20230.0%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.0%
Ford Credit Floorplan Master Owner Trust A4.060% 11/15/20300.0%
CPS Auto Receivables Trust 2019-B5.000% 03/17/20250.0%
COMM 2015-PC1 Mortgage Trust4.304% 07/10/20500.0%
Credit Suisse Mortgage Capital Certificates1.616% 04/25/20650.0%
Freddie Mac Multifamily Structured Pass Through Certificates2.137% 02/25/20320.0%
TSMC Arizona Corp4.250% 04/22/20320.0%
GS Mortgage Securities Trust 2015-GC324.422% 07/10/20480.0%
Verus Securitization Trust 2020-12.417% 01/25/20600.0%
US 10yr Ultra Fut Sep220.000% 09/30/20220.0%
Pennsylvania Higher Education Assistance Agency1.454% 04/25/20380.0%
CPS Auto Receivables Trust 2020-A4.090% 12/15/20250.0%
AMMC CLO XIII Ltd2.884% 07/24/20290.0%
Avid Automobile Receivables Trust 2019-12.820% 07/15/20260.0%
Avid Automobile Receivables Trust 2019-13.140% 07/15/20260.0%
WFRBS Commercial Mortgage Trust 2014-C230.556% 10/15/20570.0%
SFAVE Commercial Mortgage Securities Trust 2015-5AVE3.872% 01/05/20430.0%
CPS Auto Receivables Trust 2018-B4.260% 03/15/20240.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20600.0%
Residential Mortgage Loan Trust 2020-12.376% 01/26/20600.0%
Government National Mortgage Association2.900% 02/16/20530.0%
Hudsons Bay Simon JV Trust 2015-HBS0.541% 08/05/20340.0%
GCAT 2019-NQM2 Trust2.247% 01/25/20600.0%
ICEBOX HOLDCO III INC.4.756% 12/22/20280.0%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.0%
Citigroup Commercial Mortgage Trust 2014-GC250.159% 10/10/20470.0%
Merrill Lynch Mortgage Investors Trust Series 2006-AF26.250% 10/25/20360.0%
Danske Bank A/S4.375% 06/12/20280.0%
PFP 2019-6 Ltd1.925% 04/14/20370.0%
GS Mortgage Securities Trust 2014-GC264.525% 11/10/20470.0%
CPI Swap0.010% 03/02/20520.0%
New Century Home Equity Loan Trust Series 2005-A5.454% 08/25/20350.0%
COMM 2014-CCRE19 Mortgage Trust0.938% 08/10/20470.0%
FX USD/CAD 07/220.000% 07/20/20220.0%
Hudsons Bay Simon JV Trust 2015-HBS0.493% 08/05/20340.0%
Flagship Credit Auto Trust 2020-21.490% 07/15/20240.0%
OGX Austria GmbH8.500% 06/01/20180.0%
ELEMNT MAT TECH GRP US HOL INC0.000% 06/30/20290.0%
US 10YR NOTE (CBT)Sep220.000% 09/30/20220.0%
US 2YR NOTE (CBT) Sep220.000% 10/05/20220.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
LAC0.010% 12/31/20500.0%
US 5YR NOTE (CBT) Sep220.000% 10/05/20220.0%
FX USD/JPY 08/220.000% 08/08/20220.0%
US ULTRA BOND CBT Sep220.000% 09/30/2022-0.1%
US LONG BOND(CBT) Sep220.000% 09/30/2022-0.1%

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.

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 07/01/2022
$0.139
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 06/30/2022 $0.02615 $9.15
Daily Daily 05/31/2022 $0.02511 $9.40
Daily Daily 04/30/2022 $0.02331 $9.45
Daily Daily 03/31/2022 $0.02365 $9.81
Daily Daily 02/28/2022 $0.02073 $10.11
Daily Daily 01/31/2022 $0.02075 $10.25

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
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
12/16/2021 12/17/2021 $0.0629 - $0.0629 $10.51
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/19/2022 12/20/2022

Fees & Expenses

Fees & Expenses

Expense Ratioas of 05/31/2022

Fund Gross Expense Ratio Fund Net Expense Ratio
0.44% 0.40%

Expense ratio details, Click here.

Fund Documents

Fund Documents

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Statutory Prospectus
Publish Date:11/03/2015
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Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
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Commentary
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Publish Date:11/03/2015

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*"Barron's Best Fund Families of 2021", #4 ranking in the Taxable Bond category based on the net total return of the one-year period ending 12/31/2021, among 51 qualifying fund families. Ranking for the ten-year period ending 12/31/2021 is #2 out of 45 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2021,” February 18, 2022. Barron’s rankings are based on asset weighted returns in funds in five categories: general equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2021, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2020 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well.

Barron's Fund Family Rankings are awarded annually.

To qualify for the ranking, firms must offer at least three active mutual funds or actively run ETFs in Lipper’s general U.S. stock category; one in world equity; and one mixed asset, such as a balanced or allocation fund. They also need to offer at least two taxable bond funds and one national tax-exempt bond fund. All funds must have a track record of at least one year. While the ranking excludes index funds, it does include actively managed ETFs and “smart beta” ETFs, which are run passively but built on active investment strategies.

© Refinitiv Lipper 2022. All Rights Reserved. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Lipper provides global, independent fund performance data. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

+

There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").
Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus. 

1

Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

 

2

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

3

The Fund’s Dividend Yield, 12-Month Dividend Yield and 7 Day Yield are shown with and without sales charges and with maximum sales charges. The Fund’s Subsidized Dividend yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s dividend yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

 

4

The Fund’s Unsubsidized Dividend yield is shown without sales charges and with maximum sales charges. The Fund’s unsubsidized dividend yield reflects what the yield would have been without the effect of fee waivers or expense limitation arrangements.

 

5

The 30-day Standardized Subsidized yields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.  

 

6

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

 

IMPORTANT INFORMATION

 

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The value of an investment in the Fund will change as interest rates fluctuate in response to market movements. When interest rates rise, the prices of debt securities are likely to decline, and when interest rates fall, the prices of debt securities tend to rise. The Fund may invest in high yield, lower-rated debt securities, sometimes called junk bonds and may involve greater risks than higher rated debt securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance.  

 

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

 

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

 

Returns shown at less than a year reflect aggregate total returns.

 

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.   

 

The Bloomberg U.S. Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Total return comprises price appreciation/depreciation and income as a percentage of the original investment. 

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

The Morningstar Intermediate Term Bond Average represents funds that focus on corporate, government, foreign, or other issues with an average duration of greater than or equal to 3.5 years but less than or equal to six years, or an average effective maturity of more than four years but less than 10 years.

 

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

 

The Net Expense Ratio takes into account a voluntary expense reimbursement arrangement, which may be modified or terminated at any time and without which performance would have been lower.  

 

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

 

The net expense ratio for Class I takes into account a contractual fee waiver/expense reimbursement that currently is scheduled to remain in place through 03/31/2023. For periods when fees and expenses were waived and/or reimbursed, the share class benefited by not bearing such expenses. Without such waivers, performance would have been lower.

 

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

 

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

 

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

Select funds to run a Morningstar Hypothetical Report.

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