LTRQX | Total Return Fund Class R2 | Lord Abbett

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Total Return Fund

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Daily price w/o sales charge as of 12/01/2023

$8.60

arrowUp$0.06

YTD Returns w/o sales charge as of 12/01/2023

2.76%

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

Average Yield to Maturity as of 10/31/2023

6.67%

30-Day Standardized Yield 1 as of 10/31/2023  

5.15%

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

Fund Basicsas of 10/31/2023

Total Net Assets
$3.05 B
Inception Date
09/28/2007
Dividend Frequency
Monthly
Fund Gross Expense Ratio
1.05%
Fund Net Expense Ratio
1.05%
Number of Holdings
478

Fund Expense Ratio :

Gross 1.05%

Net 1.05%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 2.03% 1.55% -4.34% 0.28% 1.00% 2.76%
Lipper Category Avg. Core Bond Funds - - - - - -
Bloomberg U.S. Aggregate Bond Index 1.64% 1.18% -4.47% 0.71% 1.37% 2.76%
w/ sales charge 2.03% 1.55% -4.34% 0.28% 1.00% 2.76%

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

Fund Expense Ratio :

Gross 1.05%

Net 1.05%

Fund Expense Ratio :

Gross 1.05%

Net 1.05%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -0.74% 0.76% -4.84% -0.39% 0.80% 2.62%
Lipper Category Avg. Core Bond Funds -0.81% 0.93% -4.90% 0.11% 1.11% -
Bloomberg U.S. Aggregate Bond Index -1.21% 0.64% -5.21% 0.10% 1.13% 2.60%

Fund Expense Ratio :

Gross 1.05%

Net 1.05%

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
MBS
U.S. Government Related
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 10/31/2023 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

29 Years of Industry Experience

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

Partner, Portfolio Manager

25 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

22 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

32 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Partner, Portfolio Manager

15 Years of Industry Experience

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

Partner & Portfolio Manager

22 Years of Industry Experience

Harris Trifon
Harris Trifon

Partner, Portfolio Manager

23 Years of Industry Experience

Supported By 75 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Maturity as of 10/31/2023

6.67%

30-Day Standardized Yield 1 as of 10/31/2023  

  Subsidized2 Un-Subsidized3
w/o sales charge 5.15% 5.15%

Fund Expense Ratio :

Gross 1.05%

Net 1.05%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 2.03% 1.55% -4.34% 0.28% 1.00% 2.76%
Lipper Category Avg. Core Bond Funds - - - - - -
Bloomberg U.S. Aggregate Bond Index 1.64% 1.18% -4.47% 0.71% 1.37% 2.76%
w/ sales charge 2.03% 1.55% -4.34% 0.28% 1.00% 2.76%

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

Fund Expense Ratio :

Gross 1.05%

Net 1.05%

Fund Expense Ratio :

Gross 1.05%

Net 1.05%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -0.74% 0.76% -4.84% -0.39% 0.80% 2.62%
Lipper Category Avg. Core Bond Funds -0.81% 0.93% -4.90% 0.11% 1.11% -
Bloomberg U.S. Aggregate Bond Index -1.21% 0.64% -5.21% 0.10% 1.13% 2.60%

Fund Expense Ratio :

Gross 1.05%

Net 1.05%

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
2022 -14.42% -13.01%
2021 -0.41% -1.54%
2020 6.84% 7.51%
2019 8.00% 8.72%
2018 -1.33% 0.01%
2017 3.31% 3.54%
2016 3.64% 2.65%
2015 -1.03% 0.55%
2014 5.70% 5.97%
2013 -1.79% -2.02%
2012 7.30% -
2011 6.78% -
2010 7.29% -
2009 15.41% -
2008 -1.52% -
2007 5.03% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 3.03% -0.81% -2.88% - 2.76%
2022 -5.86% -6.15% -4.59% 1.52% -14.42%
2021 -2.52% 2.27% -0.15% 0.05% -0.41%
2020 -1.27% 4.32% 1.82% 1.87% 6.84%
2019 3.23% 2.89% 1.46% 0.22% 8.00%
2018 -1.51% -0.45% 0.16% 0.48% -1.33%
2017 1.04% 1.33% 0.73% 0.17% 3.31%
2016 2.72% 2.52% 1.13% -2.68% 3.64%
2015 1.48% -1.60% -0.15% -0.75% -1.03%
2014 2.23% 2.40% -0.04% 1.01% 5.70%
2013 0.39% -2.91% 0.39% 0.37% -1.79%
2012 1.73% 1.75% 2.70% 0.94% 7.30%
2011 0.82% 1.99% 2.38% 1.43% 6.78%
2010 2.34% 2.75% 3.21% -1.14% 7.29%
2009 2.46% 5.46% 6.16% 0.60% 15.41%
2008 0.93% -0.09% -2.01% -0.34% -1.52%
2007 1.42% -0.81% 2.20% 2.17% 5.03%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
Investment Grade Corporate
MBS
U.S. Government Related
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 10/31/2023

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 3/31/2023

  • During the quarter we maintained the Strategy’s overall up-in-quality and up-in-liquidity positioning and remained down in cyclicality and complexity.
  • Over the quarter, the portfolio predominantly benefitted from an overweight allocation as well as positive security selection within investment grade corporate bonds. Specifically, the Strategy’s conservative positioning, including an underweight to smaller regional banks and an overweight to insurance companies and large money centers drove positive performance relative to the benchmark. The portfolio’s bank holdings are generally issued by institutions with strong deposit franchises, robust credit cultures, and strong management teams. We continued to reduce lower quality corporate bonds and increase the investment grade corporate allocation over the period. We added to Healthcare and Financials at what we believe to be attractive levels following the banking turmoil.
  • An allocation to securitized credit – specifically CMBS, ABS, and CLO – had a positive impact on relative returns. High quality securitized credit outperformed both investment grade corporate bonds and government-related securities as the asset class provides superior risk-adjusted yields at the top of the credit stack.
  • Despite headline risk, the portfolio’s allocation to high-quality AAA-rated CMBS contributed as certain property types rebounded from challenged performance in the fourth quarter of last year, including hotel backed SASB deals and multi-family CRE CLO, both of which are overweight positions within the portfolio’s CMBS book. That said, we continued to reduce the portfolio’s exposure to CMBS over the quarter as we have been over the last few quarters. Sales were focused on hospitality and office backed SASB deals. We’ve maintained a very high bar to add with a preference for high quality, liquid names and the portfolio’s exposure remains low relative to this time last year.
  • Another contributor to performance was the portfolio’s allocation to short-term, AAA-rated ABS as the asset class outperformed the broader index and corporate credit. Within the sector, we have identified issues that demonstrate robust credit fundamentals, including well behaved delinquency/loss trends, consistent collateral quality, and strong stress tested structures. We are particularly constructive on auto-loans and have predominantly allocated to this subsector within the broader ABS allocation.
  • The portfolio’s modest allocation to CLO also contributed to relative returns given the attractive carry profile of the sector. While we’re comfortable with the credit profile of the portfolio’s CLO holdings, we decreased exposure over the quarter, as we monetized attractive valuations and continue to shift to a highly liquid portfolio profile and are very selective with respect to spread targets when adding.
  • Duration positioning was a meaningful detractor from performance over the quarter. Being underweight duration versus the benchmark detracted as the 5-year and 10-year U.S. Treasury rates rallied during the period. Our preference is to underweight the belly of the curve (5s and 10s) and overweight the wings (2s and 30s). 
  • We added TIPS to the portfolio over the quarter. This addition was made to express the team’s view that the market may be underestimating the potential for higher inflation for longer.

Portfolio Details as of 10/31/2023

Total Net Assets
$3.05 B
Average Effective Duration
5.45 Years
Average Life
7.08 Years
Average Maturity
7.08 Years
Number of Issues
478
Average Yield to Maturity
6.67%

To view definitions for the above Portfolio Details, Click here.

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

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.

Holding Coupon Maturity Assets
United States Treasury Note/Bond 5.000% 08/31/2025 2.6%
30-YR GNMA II-TBA PROD DEC 5.500% 07/01/2053 2.3%
United States Treasury Note/Bond 4.375% 08/15/2026 2.2%
30-YR GNMA II-TBA PROD DEC 6.000% 08/01/2053 2.2%
United States Treasury Note/Bond 4.375% 08/15/2043 1.9%
30-YR GNMA II-TBA PROD DEC 5.000% 08/01/2053 1.7%
30-YR GNMA II-TBA PROD DEC 3.000% 01/01/2052 1.4%
United States Treasury Note/Bond 1.125% 08/15/2040 1.4%
United States Treasury Note/Bond 3.875% 08/15/2033 1.2%
30-YR GNMA II-TBA PROD DEC 6.500% 10/01/2052 1.2%
% of Total Assets 18.1%
Holding Coupon Maturity Assets
United States Treasury Note/Bond5.000% 08/31/20252.5%
30-YR GNMA II-TBA PROD DEC5.500% 07/01/20532.3%
United States Treasury Note/Bond4.375% 08/15/20262.2%
30-YR GNMA II-TBA PROD DEC6.000% 08/01/20532.1%
United States Treasury Note/Bond4.375% 08/15/20431.9%
BARCLAYS CAPITAL0.010% 11/01/20231.8%
30-YR GNMA II-TBA PROD DEC5.000% 08/01/20531.6%
30-YR GNMA II-TBA PROD DEC3.000% 01/01/20521.3%
United States Treasury Note/Bond1.125% 08/15/20401.3%
United States Treasury Note/Bond3.875% 08/15/20331.2%
30-YR GNMA II-TBA PROD DEC6.500% 10/01/20521.2%
30-YR UMBS-TBA PROD DEC6.000% 07/01/20531.1%
15-YR UMBS-TBA PROD DEC6.000% 05/01/20381.1%
United States Treasury Inflation Indexed Bonds0.375% 07/15/20251.0%
Morgan Stanley4.431% 01/23/20300.9%
Fannie Mae Pool2.500% 08/01/20500.9%
30-YR GNMA II-TBA PROD DEC4.000% 07/01/20520.9%
30-YR GNMA II-TBA PROD DEC4.500% 06/01/20530.8%
Fannie Mae Pool2.500% 09/01/20500.8%
American Express Credit Account Master Trust5.150% 09/15/20300.8%
Citigroup Inc3.980% 03/20/20300.8%
United States Treasury Note/Bond4.000% 06/30/20280.8%
30-YR UMBS-TBA PROD DEC6.500% 09/01/20530.7%
Continental Resources Inc/OK5.750% 01/15/20310.7%
Fannie Mae Pool3.000% 12/01/20480.7%
Centene Corp3.375% 02/15/20300.6%
30-YR UMBS-TBA PROD DEC7.000% 07/01/20530.6%
CVS Health Corp3.250% 08/15/20290.6%
15-YR UMBS-TBA PROD DEC5.500% 05/01/20380.6%
Wells Fargo & Co2.393% 06/02/20280.6%
15-YR UMBS-TBA PROD DEC5.000% 04/01/20380.6%
CDP Financial Inc4.250% 07/25/20280.6%
Fannie Mae Pool2.500% 08/01/20500.6%
Citizens Auto Receivables Trust 2023-25.830% 02/15/20280.5%
United States Treasury Note/Bond4.250% 05/31/20250.5%
WORLD OMNI AUTO RECEIVABLES TR5.790% 02/15/20290.5%
Danske Bank A/S3.773% 03/28/20250.5%
EQT Corp7.000% 02/01/20300.5%
30-YR UMBS-TBA PROD DEC4.000% 09/01/20520.5%
Avant Loans Funding Trust 2022-REV16.540% 09/15/20310.5%
JPMorgan Chase & Co3.540% 05/01/20280.5%
Ford Credit Auto Lease Trust 2023-A4.940% 03/15/20260.5%
Fairstone Financial Issuance Trust I5.162% 10/20/20390.4%
Southern Co/The2.700% 08/01/20240.4%
Freddie Mac Pool5.000% 08/01/20520.4%
nVent Finance Sarl4.550% 04/15/20280.4%
30-YR GNMA II-TBA PROD NOV5.500% 07/01/20530.4%
NatWest Group PLC4.269% 03/22/20250.4%
Freddie Mac Pool4.500% 08/01/20520.4%
Affirm Asset Securitization Trust 2023-B6.820% 09/15/20280.4%
Citigroup Inc3.887% 01/10/20280.4%
T-Mobile USA Inc3.875% 04/15/20300.4%
UBS Group AG6.373% 07/15/20260.4%
Cigna Group/The2.400% 03/15/20300.4%
Bank of America Corp2.087% 06/14/20290.4%
Avolon Holdings Funding Ltd5.250% 05/15/20240.4%
Occidental Petroleum Corp6.625% 09/01/20300.4%
United States Treasury Note/Bond1.875% 11/15/20510.4%
Fannie Mae Pool5.000% 08/01/20520.4%
GM Financial Automobile Leasing Trust 2023-15.160% 04/20/20260.4%
Signal Peak CLO 8 Ltd6.947% 04/20/20330.4%
GE HealthCare Technologies Inc5.650% 11/15/20270.4%
Barclays PLC3.932% 05/07/20250.4%
Aviation Capital Group LLC5.500% 12/15/20240.4%
JPMorgan Chase & Co3.845% 06/14/20250.4%
BMW Vehicle Lease Trust 2023-15.070% 06/25/20260.4%
UBS Group AG6.442% 08/11/20280.4%
International Flavors & Fragrances Inc1.230% 10/01/20250.4%
Ready Capital Mortgage Financing 2022-FL8 LLC6.971% 01/25/20370.4%
Freddie Mac Multifamily Structured Pass Through Certificates3.123% 08/25/20320.4%
Flagship Credit Auto Trust 2022-34.550% 04/15/20270.4%
Fannie Mae Pool4.000% 06/01/20520.4%
Oracle Corp6.250% 11/09/20320.4%
Celanese US Holdings LLC6.050% 03/15/20250.4%
Fannie Mae Pool2.500% 01/01/20510.4%
AT&T Inc5.400% 02/15/20340.3%
US Bancorp4.967% 07/22/20330.3%
Lending Funding Trust 2020-22.320% 04/21/20310.3%
GM Financial Automobile Leasing Trust 2023-15.510% 01/20/20270.3%
JPMorgan Chase & Co3.782% 02/01/20280.3%
Sprint Capital Corp8.750% 03/15/20320.3%
Carvana Auto Receivables Trust 2020-NP15.200% 07/15/20270.3%
Avolon Holdings Funding Ltd2.125% 02/21/20260.3%
Bacardi Ltd / Bacardi-Martini BV5.400% 06/15/20330.3%
GCAT 2023-NQM1 Trust4.250% 10/25/20570.3%
Wells Fargo & Co3.584% 05/22/20280.3%
Exeter Automobile Receivables Trust 2020-27.190% 09/15/20270.3%
Duke Energy Corp4.500% 08/15/20320.3%
30-YR GNMA II-TBA PROD NOV4.500% 06/01/20530.3%
L3Harris Technologies Inc5.400% 07/31/20330.3%
Vistra Operations Co LLC3.550% 07/15/20240.3%
Flagship Credit Auto Trust 2018-45.510% 03/16/20260.3%
Fannie Mae Pool3.500% 04/01/20520.3%
30-YR GNMA II-TBA PROD NOV6.000% 08/01/20530.3%
Electricite de France SA6.250% 05/23/20330.3%
BAT Capital Corp3.222% 08/15/20240.3%
Japan Bank for International Cooperation4.625% 07/19/20280.3%
GA Global Funding Trust3.850% 04/11/20250.3%
Diamondback Energy Inc3.125% 03/24/20310.3%
Affirm Asset Securitization Trust 2023-A6.610% 01/18/20280.3%
Bank of America Corp3.593% 07/21/20280.3%
UBS AG5.125% 05/15/20240.3%
Wells Fargo & Co2.406% 10/30/20250.3%
National Grid PLC5.809% 06/12/20330.3%
Rockford Tower CLO 2018-1 Ltd6.741% 05/20/20310.3%
United States Treasury Note/Bond2.250% 05/15/20410.3%
Indianapolis Power & Light Co5.650% 12/01/20320.3%
BNP Paribas SA2.219% 06/09/20260.3%
Freddie Mac Pool5.000% 08/01/20520.3%
JPMorgan Chase & Co2.739% 10/15/20300.3%
New York Life Global Funding4.550% 01/28/20330.3%
Fannie Mae Pool2.500% 12/01/20510.3%
Macquarie Group Ltd4.654% 03/27/20290.3%
CarMax Auto Owner Trust 2023-46.000% 07/17/20280.3%
Humana Inc5.875% 03/01/20330.3%
Fannie Mae Pool2.000% 11/01/20510.3%
Rad CLO 6 Ltd7.057% 01/20/20330.3%
SEB Funding LLC4.969% 01/30/20520.3%
Oracle Corp2.875% 03/25/20310.3%
Revvity Inc0.850% 09/15/20240.3%
US 10yr Ultra Fut Dec230.000% 12/29/20230.3%
Westlake Automobile Receivables Trust 2020-33.340% 06/15/20260.3%
Intesa Sanpaolo SpA6.625% 06/20/20330.3%
Ford Credit Auto Owner Trust 2018-REV13.190% 07/15/20310.3%
Macquarie Group Ltd2.691% 06/23/20320.3%
Petroleos Mexicanos6.700% 02/16/20320.3%
Danske Bank A/S6.466% 01/09/20260.3%
ME Funding LLC 2019-16.448% 07/30/20490.3%
Royal Bank of Canada6.000% 11/01/20270.3%
Sabine Pass Liquefaction LLC5.625% 03/01/20250.3%
BNP Paribas SA4.375% 03/01/20330.3%
COMM 2014-UBS4 Mortgage Trust4.711% 08/10/20470.3%
Honeywell International Inc4.125% 11/02/20340.3%
Fannie Mae Pool2.500% 12/01/20510.3%
30-YR GNMA II-TBA PROD DEC3.500% 03/01/20520.3%
Global Payments Inc4.950% 08/15/20270.3%
30-YR GNMA II-TBA PROD NOV6.500% 10/01/20520.3%
Genesis Sales Finance Master Trust1.450% 12/21/20260.3%
Crown Castle Inc3.300% 07/01/20300.3%
CIM Trust 2021-J32.500% 06/25/20510.3%
Hilton Worldwide Finance LLC7.174% 06/22/20260.3%
Freddie Mac STACR REMIC Trust 2021-DNA37.421% 10/25/20330.3%
Freddie Mac Pool2.500% 07/01/20510.3%
UBS Group AG1.494% 08/10/20270.3%
SCF Equipment Leasing 2021-1 LLC1.930% 09/20/20300.3%
Air Lease Corp5.850% 12/15/20270.3%
AES Corp/The3.950% 07/15/20300.3%
FactSet Research Systems Inc3.450% 03/01/20320.2%
Prosus NV3.257% 01/19/20270.2%
Humana Inc1.350% 02/03/20270.2%
Charter Communications Operating LLC7.074% 04/30/20250.2%
LPL Holdings Inc4.000% 03/15/20290.2%
Arbor Realty Commercial Real Estate Notes 2021-FL4 Ltd6.799% 11/15/20360.2%
Bank of America Corp3.458% 03/15/20250.2%
Kinder Morgan Energy Partners LP4.250% 09/01/20240.2%
Aviation Capital Group LLC6.375% 07/15/20300.2%
30-YR UMBS-TBA PROD DEC2.000% 09/01/20510.2%
Wells Fargo & Co2.188% 04/30/20260.2%
Fannie Mae Pool2.500% 06/01/20510.2%
Regal Rexnord Corp6.050% 02/15/20260.2%
BMO 2023-5C2 Mortgage Trust0.000% 11/15/20560.2%
Lendmark Funding Trust 2021-11.900% 11/20/20310.2%
National Fuel Gas Co5.500% 01/15/20260.2%
UBS Group AG4.988% 08/05/20330.2%
COMM 2014-CCRE17 Mortgage Trust4.174% 05/10/20470.2%
Mexico Government International Bond4.875% 05/19/20330.2%
Connecticut Avenue Securities Trust 2023-R027.621% 01/25/20430.2%
Marble Point CLO XVII Ltd6.977% 04/20/20330.2%
Minejesa Capital BV4.625% 08/10/20300.2%
Citizens Bank NA/Providence RI4.119% 05/23/20250.2%
Bain Capital Credit CLO 2023-4 Ltd10.412% 10/21/20360.2%
Connecticut Avenue Securities Trust 2021-R016.871% 10/25/20410.2%
Philip Morris International Inc5.625% 11/17/20290.2%
BlueMountain CLO XXXI Ltd6.808% 04/19/20340.2%
Freddie Mac Multifamily Structured Pass Through Certificates2.580% 05/25/20320.2%
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara3.000% 06/30/20300.2%
BRAVO Residential Funding Trust 2021-NQM20.970% 03/25/20600.2%
Apidos CLO XXIV6.627% 10/20/20300.2%
EIG Pearl Holdings Sarl3.545% 08/31/20360.2%
American Tower Corp5.550% 07/15/20330.2%
NatWest Group PLC7.472% 11/10/20260.2%
JP Morgan Mortgage Trust 2022-33.000% 08/25/20520.2%
Morgan Stanley2.239% 07/21/20320.2%
BHMS 2018-ATLS6.882% 07/15/20350.2%
Elmwood CLO 24 Ltd7.733% 12/11/20330.2%
CenterPoint Energy Resources Corp4.400% 07/01/20320.2%
Frontier Communications Holdings LLC5.000% 05/01/20280.2%
Wells Fargo & Co3.350% 03/02/20330.2%
30-YR GNMA II-TBA PROD NOV5.000% 08/01/20530.2%
First-Citizens Bank & Trust Co2.969% 09/27/20250.2%
Galaxy Pipeline Assets Bidco Ltd3.250% 09/30/20400.2%
Valley Stream Park CLO LTD7.666% 10/20/20340.2%
Civitas Resources Inc8.375% 07/01/20280.2%
LoanCore 2022-CRE7 Issuer Ltd6.871% 01/17/20370.2%
HSBC Holdings PLC3.803% 03/11/20250.2%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.2%
CARLYLE US CLO 2017-3 Ltd6.577% 07/20/20290.2%
Smyrna Ready Mix Concrete LLC6.000% 11/01/20280.2%
Antero Resources Corp7.625% 02/01/20290.2%
Freddie Mac Pool2.500% 11/01/20500.2%
Freddie Mac STACR REMIC Trust 2021-DNA77.121% 11/25/20410.2%
Comstock Resources Inc6.750% 03/01/20290.2%
Sprint Capital Corp6.875% 11/15/20280.2%
EQM Midstream Partners LP7.500% 06/01/20300.2%
Ballyrock CLO 2020-2 Ltd6.687% 10/20/20310.2%
Fannie Mae Pool4.000% 05/01/20520.2%
Venture Global LNG Inc8.375% 06/01/20310.2%
Cellnex Finance Co SA3.875% 07/07/20410.2%
Costa Rica Government International Bond6.550% 04/03/20340.2%
Broadcom Inc4.150% 04/15/20320.2%
Voya CLO 2018-2 Ltd6.655% 07/15/20310.2%
Freddie Mac Pool5.000% 07/01/20520.2%
COMM 2015-LC21 Mortgage Trust4.043% 07/10/20480.2%
Workday Inc3.800% 04/01/20320.2%
Freddie Mac STACR REMIC Trust 2022-DNA48.671% 05/25/20420.2%
Freddie Mac Structured Agency Credit Risk Debt Notes7.421% 04/25/20430.2%
Aircastle Ltd2.850% 01/26/20280.2%
Arbor Realty Commercial Real Estate Notes 2021-FL3 Ltd6.519% 08/15/20340.2%
Fannie Mae Pool2.000% 09/01/20510.2%
Freddie Mac Structured Agency Credit Risk Debt Notes7.971% 07/25/20420.2%
British Airways 2020-1 Class A Pass Through Trust4.250% 05/15/20340.2%
Flagstar Mortgage Trust 2021-3INV2.500% 06/25/20510.2%
Ovintiv Inc6.500% 02/01/20380.2%
GS Mortgage-Backed Securities Trust 2021-PJ82.500% 01/25/20520.2%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.2%
PFP 2023-10 Ltd7.699% 04/16/20280.2%
Bank of America Corp2.687% 04/22/20320.2%
Warnermedia Holdings Inc3.788% 03/15/20250.2%
VICI Properties LP / VICI Note Co Inc5.625% 05/01/20240.2%
Fannie Mae Pool2.500% 12/01/20510.2%
Glencore Funding LLC4.875% 03/12/20290.2%
Angel Oak Mortgage Trust 2022-34.000% 01/25/20670.2%
BMO 2023-C5 Mortgage Trust5.494% 06/15/20560.2%
Fannie Mae Pool3.500% 07/01/20450.2%
BankUnited Inc5.125% 06/11/20300.2%
BAT Capital Corp6.343% 08/02/20300.2%
Constellation Energy Generation LLC6.250% 10/01/20390.2%
Avolon Holdings Funding Ltd4.250% 04/15/20260.2%
UBS Group AG1.364% 01/30/20270.2%
Perimeter Master Note Business Trust4.170% 12/15/20260.2%
Bank of America Corp3.970% 03/05/20290.2%
American Tower Corp2.400% 03/15/20250.2%
Wells Fargo & Co5.389% 04/24/20340.2%
Apidos CLO XII7.055% 04/15/20310.2%
Flagstar Mortgage Trust 2021-72.500% 08/25/20510.2%
Netflix Inc6.375% 05/15/20290.2%
Toronto-Dominion Bank/The4.456% 06/08/20320.2%
Arbor Realty Commercial Real Estate Notes 2021-FL2 Ltd6.549% 05/15/20360.2%
Bank of New York Mellon Corp/The4.967% 04/26/20340.2%
Freddie Mac Pool3.500% 02/01/20460.2%
AT&T Inc4.300% 02/15/20300.2%
GS Mortgage-Backed Securities Trust 2023-PJ13.500% 02/25/20530.2%
CVS Health Corp1.750% 08/21/20300.2%
Fannie Mae Pool2.500% 05/01/20520.2%
Hyundai Capital America1.800% 10/15/20250.2%
SCF Equipment Leasing 2019-2 LLC2.760% 08/20/20260.2%
Veralto Corp5.450% 09/18/20330.2%
Macy's Retail Holdings LLC5.875% 04/01/20290.2%
Crescent Energy Finance LLC9.250% 02/15/20280.2%
Centene Corp4.250% 12/15/20270.2%
Earthstone Energy Holdings LLC8.000% 04/15/20270.2%
Weekley Homes LLC / Weekley Finance Corp4.875% 09/15/20280.2%
Great Wolf Trust 2019-WOLF6.483% 12/15/20360.2%
Verus Securitization Trust 2021-21.031% 02/25/20660.2%
Transocean Inc8.000% 02/01/20270.2%
Texas Natural Gas Securitization Finance Corp5.102% 04/01/20350.2%
Fannie Mae Pool2.000% 11/01/20510.1%
Charter Communications Operating LLC7.074% 02/01/20270.1%
Viterra Finance BV4.900% 04/21/20270.1%
American Tower Corp3.800% 08/15/20290.1%
MF1 2022-FL8 Ltd6.684% 02/19/20370.1%
Fannie Mae Pool4.000% 05/01/20520.1%
Morgan Stanley2.484% 09/16/20360.1%
T-Mobile USA Inc3.500% 04/15/20250.1%
CVS Health Corp5.050% 03/25/20480.1%
CF Trust 2019-BOSS8.632% 12/15/20240.1%
Fannie Mae Pool2.000% 06/01/20510.1%
GS Mortgage Securities Corp Trust 2021-ROSS10.099% 05/15/20260.1%
Aviation Capital Group LLC1.950% 01/30/20260.1%
Fannie Mae Pool5.000% 07/01/20520.1%
Bombardier Inc6.000% 02/15/20280.1%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.500% 03/15/20270.1%
Fannie Mae Pool3.000% 01/01/20510.1%
State Street Corp4.164% 08/04/20330.1%
JP Morgan Mortgage Trust 2021-132.500% 04/25/20520.1%
Connecticut Avenue Securities Trust 2023-R048.871% 05/25/20430.1%
Columbia Pipeline Group Inc4.500% 06/01/20250.1%
Baytex Energy Corp8.500% 04/30/20300.1%
Westlake Automobile Receivables Trust 2023-15.740% 08/15/20280.1%
UBS Group AG4.703% 08/05/20270.1%
M&T Bank Corp5.053% 01/27/20340.1%
Morgan Stanley4.210% 04/20/20280.1%
Bank of America Corp1.658% 03/11/20270.1%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.1%
J.P. Morgan Mortgage Trust 2021-INV83.000% 05/25/20520.1%
Eastern Gas Transmission & Storage Inc3.000% 11/15/20290.1%
Carvana Auto Receivables Trust 2019-34.600% 07/15/20260.1%
Tricolor Auto Securitization Trust 2021-13.230% 09/15/20260.1%
Voya CLO 2018-1 Ltd6.958% 04/19/20310.1%
GS Mortgage-Backed Securities Trust 2021-PJ22.500% 07/25/20510.1%
Southwest Gas Corp4.050% 03/15/20320.1%
Anchorage Capital CLO 6 Ltd7.405% 07/15/20300.1%
EPR Properties4.950% 04/15/20280.1%
NatWest Group PLC5.808% 09/13/20290.1%
Bayer Corp/NJ6.650% 02/15/20280.1%
Callon Petroleum Co8.000% 08/01/20280.1%
Carlyle Global Market Strategies CLO 2012-3 Ltd6.835% 01/14/20320.1%
US Bancorp4.839% 02/01/20340.1%
Chase Home Lending Mortgage Trust 2023-16.000% 06/25/20540.1%
Leidos Inc5.750% 03/15/20330.1%
Oklahoma Gas and Electric Co5.400% 01/15/20330.1%
Mitsubishi UFJ Financial Group Inc5.541% 04/17/20260.1%
American Express Co6.489% 10/30/20310.1%
ABN AMRO Bank NV3.324% 03/13/20370.1%
Fannie Mae Pool2.500% 08/01/20500.1%
CIFC Funding 2014-V Ltd6.864% 10/17/20310.1%
GREYWOLF CLO VII Ltd6.856% 10/20/20310.1%
Crown Castle Inc2.100% 04/01/20310.1%
Alfa Desarrollo SpA4.550% 09/27/20510.1%
Fannie Mae Pool2.500% 09/01/20510.1%
Pfizer Investment Enterprises Pte Ltd4.750% 05/19/20330.1%
OCP CLO 2014-5 Ltd6.721% 04/26/20310.1%
Hyundai Capital America5.800% 06/26/20250.1%
AEP Texas Inc5.400% 06/01/20330.1%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.1%
30-YR UMBS-TBA PROD DEC5.000% 06/01/20530.1%
J.P. Morgan Mortgage Trust 2022-43.000% 10/25/20520.1%
Fannie Mae Pool5.000% 07/01/20520.1%
Genesis Sales Finance Master Trust2.090% 12/21/20260.1%
Rain Carbon Inc12.250% 09/01/20290.1%
Angel Oak Mortgage Trust 2021-31.068% 05/25/20660.1%
Intuit Inc5.500% 09/15/20530.1%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.875% 04/15/20450.1%
Stars Group Holdings BV7.902% 07/21/20260.1%
Citigroup Inc4.140% 05/24/20250.1%
COMM 2015-DC1 Mortgage Trust4.299% 02/10/20480.1%
CIFC Funding 2021-I Ltd7.190% 04/25/20330.1%
CenterPoint Energy Resources Corp1.750% 10/01/20300.1%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN6.652% 11/15/20350.1%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.1%
BBCMS 2019-BWAY Mortgage Trust6.405% 11/15/20340.1%
Indiana Michigan Power Co5.625% 04/01/20530.1%
Royal Caribbean Cruises Ltd5.375% 07/15/20270.1%
Ecopetrol SA8.625% 01/19/20290.1%
NBM US Holdings Inc7.000% 05/14/20260.1%
SunCoke Energy Inc4.875% 06/30/20290.1%
CITGO Petroleum Corp8.375% 01/15/20290.1%
Cheniere Energy Partners LP3.250% 01/31/20320.1%
Viasat Inc5.625% 09/15/20250.1%
Wells Fargo Mortgage Backed Securities 2021-INV2 Trust2.500% 09/25/20510.1%
RegionalCare Hospital Partners Holdings Inc / LifePoint Health Inc9.750% 12/01/20260.1%
Turkiye Government International Bond4.250% 04/14/20260.1%
PBF Holding Co LLC / PBF Finance Corp6.000% 02/15/20280.1%
EQUS 2021-EQAZ Mortgage Trust6.204% 10/15/20380.1%
Duke Energy Indiana LLC5.400% 04/01/20530.1%
Mariner Finance Issuance Trust 2021-B4.680% 11/20/20360.1%
Calpine Corp5.125% 03/15/20280.1%
Buckeye Partners LP9.694% 01/22/20780.1%
Eco Material Technologies Inc7.875% 01/31/20270.1%
Jacobs Entertainment Inc6.750% 02/15/20290.1%
Nexstar Media Inc4.750% 11/01/20280.1%
Goodyear Tire & Rubber Co/The5.000% 07/15/20290.1%
Vital Energy Inc10.125% 01/15/20280.1%
Genting New York LLC / GENNY Capital Inc3.300% 02/15/20260.1%
Cinemark USA Inc5.875% 03/15/20260.1%
LSB Industries Inc6.250% 10/15/20280.1%
Triumph Group Inc7.750% 08/15/20250.1%
Seagate HDD Cayman8.500% 07/15/20310.1%
USA Compression Partners LP / USA Compression Finance Corp6.875% 09/01/20270.1%
Howard Hughes Corp/The5.375% 08/01/20280.1%
Royal Caribbean Cruises Ltd7.250% 01/15/20300.1%
Tenet Healthcare Corp6.125% 10/01/20280.1%
American Airlines Inc7.250% 02/15/20280.1%
SM Energy Co6.750% 09/15/20260.1%
Sunoco LP / Sunoco Finance Corp7.000% 09/15/20280.1%
CNX Resources Corp6.000% 01/15/20290.1%
Diamond Foreign Asset Co / Diamond Finance LLC8.500% 10/01/20300.1%
Griffon Corp5.750% 03/01/20280.1%
CCO Holdings LLC / CCO Holdings Capital Corp4.750% 03/01/20300.1%
LABL Inc9.500% 11/01/20280.1%
Carnival Corp6.000% 05/01/20290.1%
Hilcorp Energy I LP / Hilcorp Finance Co6.000% 02/01/20310.1%
EquipmentShare.com Inc9.000% 05/15/20280.1%
Panama Government International Bond2.252% 09/29/20320.1%
Garda World Security Corp7.750% 02/15/20280.1%
Cloud Software Group Inc6.500% 03/31/20290.1%
Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl4.625% 06/01/20280.1%
Bahrain Government International Bond6.750% 09/20/20290.1%
NRG Energy Inc4.450% 06/15/20290.1%
Service Properties Trust7.500% 09/15/20250.1%
Valaris Ltd8.375% 04/30/20300.1%
Eskom Holdings SOC Ltd6.350% 08/10/20280.1%
DISH Network Corp11.750% 11/15/20270.1%
Adani Ports & Special Economic Zone Ltd4.000% 07/30/20270.1%
Freeport Indonesia PT6.200% 04/14/20520.1%
BellRing Brands Inc7.000% 03/15/20300.1%
Mauser Packaging Solutions Holding Co7.875% 08/15/20260.1%
OneMain Finance Corp5.375% 11/15/20290.1%
Standard Industries Inc/NJ4.375% 07/15/20300.1%
TransDigm Inc4.625% 01/15/20290.1%
CHS/Community Health Systems Inc5.250% 05/15/20300.1%
Evergreen Acqco 1 LP / TVI Inc9.750% 04/26/20280.1%
Republic of South Africa Government International Bond5.875% 04/20/20320.1%
Navient Corp4.875% 03/15/20280.1%
Senegal Government International Bond6.250% 05/23/20330.1%
VistaJet Malta Finance PLC / Vista Management Holding Inc7.875% 05/01/20270.1%
United States Steel Corp6.875% 03/01/20290.1%
BANK 2022-BNK445.745% 11/15/20550.1%
UBS Group AG6.327% 12/22/20270.1%
American Tower Corp2.950% 01/15/20250.1%
US 5YR NOTE (CBT) Dec230.000% 01/04/20240.1%
Verus Securitization Trust 2020-51.218% 05/25/20650.1%
SCF Equipment Leasing 2021-1 LLC3.560% 08/20/20320.1%
Ares XL CLO Ltd6.525% 01/15/20290.1%
Mountain View CLO 2017-1 LLC6.745% 10/16/20290.1%
Assurant Inc2.650% 01/15/20320.1%
Metropolitan Life Global Funding I4.050% 08/25/20250.1%
30-YR UMBS-TBA PROD DEC5.500% 06/01/20530.1%
NGPL PipeCo LLC3.250% 07/15/20310.1%
BX Commercial Mortgage Trust 2021-XL26.137% 10/15/20380.1%
Fannie Mae Pool3.500% 09/01/20510.1%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust4.875% 01/16/20240.1%
PVH Corp7.750% 11/15/20230.1%
Connecticut Avenue Securities Trust 2023-R077.271% 09/25/20430.1%
Bank of America Corp4.000% 01/22/20250.1%
Citizens Bank NA/Providence RI6.064% 10/24/20250.1%
Macquarie Bank Ltd3.624% 06/03/20300.1%
Metropolitan Life Global Funding I5.150% 03/28/20330.1%
Fannie Mae Pool2.500% 08/01/20510.1%
Octane Receivables Trust 2022-25.110% 02/22/20280.1%
Starwood Mortgage Residential Trust 2020-31.486% 04/25/20650.1%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.1%
Baxalta Inc4.000% 06/23/20250.1%
Elevance Health Inc2.250% 05/15/20300.1%
Donlen Fleet Lease Funding 2 LLC0.560% 12/11/20340.1%
Galaxy XXI CLO Ltd6.697% 04/20/20310.1%
United States Treasury Note/Bond4.125% 08/15/20530.1%
Fairstone Financial Issuance Trust I6.873% 10/20/20390.1%
Freddie Mac Pool2.500% 05/01/20520.1%
GM Financial Automobile Leasing Trust 2022-22.930% 10/21/20240.1%
Azul Secured Finance LLP11.930% 08/28/20280.0%
Vista Point Securitization Trust 2020-21.475% 04/25/20650.0%
Sunrun Demeter Issuer 2021-2 LLC2.270% 01/30/20570.0%
BBCMS 2019-BWAY Mortgage Trust6.759% 11/15/20340.0%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.0%
Deephaven Residential Mortgage Trust 2021-31.194% 08/25/20660.0%
LPL Holdings Inc7.165% 11/12/20260.0%
Vital Energy Inc9.500% 01/15/20250.0%
FX USD/CAD 11/230.000% 11/20/20230.0%
Parallel 2017-1 Ltd6.707% 07/20/20290.0%
AMMC CLO XIII Ltd7.360% 07/24/20290.0%
Wells Fargo Commercial Mortgage Trust 2013-LC123.955% 07/15/20460.0%
Rockcliff Energy II LLC5.500% 10/15/20290.0%
CPS Auto Receivables Trust 2019-B5.000% 03/17/20250.0%
Capital One Prime Auto Receivables Trust 2022-12.710% 06/16/20250.0%
CPS Auto Receivables Trust 2020-A4.090% 12/15/20250.0%
Verus Securitization Trust 2020-12.417% 01/25/20600.0%
Towd Point Asset Trust 2018-SL16.039% 01/25/20460.0%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20600.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
Danske Bank A/S4.375% 06/12/20280.0%
Residential Mortgage Loan Trust 2020-12.376% 01/26/20600.0%
Credit Suisse Mortgage Capital Certificates1.616% 04/25/20650.0%
FX USD/EUR 12/230.000% 12/13/20230.0%
WFRBS Commercial Mortgage Trust 2014-C230.546% 10/15/20570.0%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.0%
Citigroup Commercial Mortgage Trust 2014-GC250.156% 10/10/20470.0%
Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.0%
Avid Automobile Receivables Trust 2019-13.140% 07/15/20260.0%
Hudsons Bay Simon JV Trust 2015-HBS0.493% 08/05/20340.0%
Hudsons Bay Simon JV Trust 2015-HBS0.541% 08/05/20340.0%
FX USD/CAD 11/230.000% 11/20/20230.0%
OGX Austria GmbH8.500% 06/01/20180.0%
ELEMNT MAT TECH GRP US HOL INC0.000% 07/06/20290.0%
EURO-BUND FUTURE Dec230.000% 12/11/20230.0%
US 2YR NOTE (CBT) Dec230.000% 01/04/20240.0%
US 10YR NOTE (CBT)Dec230.000% 12/29/2023-0.1%
US ULTRA BOND CBT Dec230.000% 12/29/2023-0.6%

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 12/01/2023
$0.32508
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2023 $0.03118 $8.54
Daily Daily 10/31/2023 $0.03111 $8.21
Daily Daily 09/30/2023 $0.03047 $8.37
Daily Daily 08/31/2023 $0.03050 $8.61
Daily Daily 07/31/2023 $0.02971 $8.70
Daily Daily 06/30/2023 $0.03015 $8.71
Daily Daily 05/31/2023 $0.02944 $8.75
Daily Daily 04/30/2023 $0.02935 $8.88
Daily Daily 03/31/2023 $0.03020 $8.87
Daily Daily 02/28/2023 $0.02588 $8.71
Daily Daily 01/31/2023 $0.02711 $8.96

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 12/31/2023

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 $10.49
*

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. 

Fees & Expenses

Fees & Expenses

Expense Ratioas of 10/31/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
1.05% 1.05%

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

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

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.

 

2

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

 

3

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.

 

 

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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