Ultra Short Bond Fund

LUBVX

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Daily price w/o sales charge as of 01/23/2020

$10.03

$0.00

YTD Returns w/o sales charge as of 01/23/2020

0.13%

Overall Morningstar Ratings

Ultrashort Bond

as of 12/31/2019

Morningstar rated the Lord Abbett Ultra Short Bond Fund class R5 share 4 stars among 161 Ultrashort Bond Funds for the overall rating and the 3 year periods ended 12/31/2019, respectively.

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Summary

What is the Ultra Short Bond Fund ?

The Fund seeks to deliver current income consistent with the preservation of capital by investing in a broad range of investment grade ultra-short fixed income and money market securities with a weighted average duration of less than one year.

Yield

7 Day Yield ^1,4 as of 01/23/2020

	Subsidized³	Un-Subsidized³
w/o sales charge	2.05%	1.98%

30-Day Standardized Yield ² as of 12/31/2019

	Subsidized⁵	Un-Subsidized⁶
w/o sales charge	2.00%	1.96%

Fund Basicsas of 12/31/2019

Total Net Assets: $21.19 B
Inception Date: 10/17/2016
Dividend Frequency: Monthly
Fund Gross Expense Ratio: 0.34%
Fund Net Expense Ratio: 0.27%
Number of Holdings: 648

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 10/17/2016

w/o sales charge	2.99%	2.99%	2.23%	-	-	2.15%
Lipper Category Avg. Ultra-Short Obligations Funds	2.93%	2.93%	1.94%	-	-	-
ICE BofAML U.S. Treasury Bill Index	2.35%	2.35%	1.68%	-	-	1.59%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 10/17/2016

w/o sales charge	2.99%	2.99%	2.23%	-	-	2.15%
Lipper Category Avg. Ultra-Short Obligations Funds	2.93%	2.93%	1.94%	-	-	-
ICE BofAML U.S. Treasury Bill Index	2.35%	2.35%	1.68%	-	-	1.59%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Credit Quality Distribution as of 12/31/2019 View Portfolio

Rating	Assets
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
BBB

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

Yoana N. Koleva, CFA

Managing Director & Portfolio Manager

16 Years of Industry Experience

Andrew H. O'Brien, CFA

Partner & Portfolio Manager

21 Years of Industry Experience

Kewjin Yuoh

Partner & Portfolio Manager

25 Years of Industry Experience

Adam C. Castle, CFA

Managing Director, Portfolio Manager

11 Years of Industry Experience

Supported By 64 Investment Professionals with 17 Years Avg. Industry Experience

Your Representative

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Performance

NAV HISTORICAL PRICES

Date	Net Asset Value

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 10/17/2016

w/o sales charge	2.99%	2.99%	2.23%	-	-	2.15%
Lipper Category Avg. Ultra-Short Obligations Funds	2.93%	2.93%	1.94%	-	-	-
ICE BofAML U.S. Treasury Bill Index	2.35%	2.35%	1.68%	-	-	1.59%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 10/17/2016

w/o sales charge	2.99%	2.99%	2.23%	-	-	2.15%
Lipper Category Avg. Ultra-Short Obligations Funds	2.93%	2.93%	1.94%	-	-	-
ICE BofAML U.S. Treasury Bill Index	2.35%	2.35%	1.68%	-	-	1.59%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Year	Fund Returns	ICE BofAML U.S. Treasury Bill Index

2019	2.99%	2.35%
2018	2.10%	1.88%
2017	1.60%	0.82%
2016	0.19%	0.37%

Year	Q1	Q2	Q3	Q4	Yearly Returns

2020	-	-	-	-	0.13%
2019	1.00%	0.78%	0.63%	0.56%	2.99%
2018	0.36%	0.67%	0.61%	0.44%	2.10%
2017	0.40%	0.44%	0.37%	0.39%	1.60%
2016	-	-	-	-	0.19%

Portfolio

Type	Assets
Corp Floating
Commercial Paper
ABS
U.S. Government Related
Corp Fixed Rate
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
1-2.99 years

CREDIT QUALITY DISTRIBUTION as of 12/31/2019

Rating	Assets
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
BBB

Portfolio Positioning as of 12/31/2019

The portfolio maintained its diversified exposure beyond the Treasury securities represented in its benchmark, the ICE BofA Merrill Lynch U.S. Treasury Bill Index. The portfolio primarily invests in investment grade bonds with floating rate coupons, asset-backed securities, and commercial paper, all with short maturities. We favor these asset classes as we believe they exhibit attractive risk-adjusted carry opportunities.
The 3-month London Interbank Offered Rate (“LIBOR”) declined during the period, ending the quarter at 1.91%, 18 basis points lower than levels seen last quarter. Falling LIBOR rates can result in lower coupon income generated by the strategy as a large portion of the portfolio is allocated to securities with floating rate coupons that are tied to LIBOR.
Due to the repo market dislocation, commercial paper spreads widened. We took advantage of this displacement by adding to short-term commercial paper in order to capture the higher rate levels, ultimately bringing down the portfolio’s overall average duration.
Following strong performance in the beginning of the quarter, we reduced the portfolio’s allocation to corporate bonds with floating rate coupons. While we remain attracted to floating rate notes, we rotated a portion of our exposure to other asset classes including commercial paper.
As securities have rolled off and valuations have tightened, we reduced the portfolio’s allocation to asset-backed securities (“ABS”). We continue to remain attracted to the sector, primarily within the auto-loan and credit card receivable space.

Portfolio Details as of 12/31/2019

Total Net Assets: $21.19 B
Number of Issues: 648
Average Coupon: 1.78%
Average Life: 0.81 Years
Average Effective Duration: 0.19 Years

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

Holding	Coupon	Maturity	Assets

United States Treasury Bill	0.000%	03/26/2020	1.8%
Morgan Stanley	2.731%	02/10/2021	1.4%
Goldman Sachs Group, Inc.	3.419%	04/23/2020	1.2%
Morgan Stanley	3.458%	01/20/2022	1.0%
Bank of America Corp.	2.938%	07/21/2021	1.0%
Boeing Co.	0.000%	02/26/2020	0.9%
JPMorgan Chase & Co.	2.652%	03/09/2021	0.8%
Goldman Sachs Group, Inc.	3.377%	04/26/2022	0.8%
Wells Fargo & Co.	3.111%	02/11/2022	0.8%
Wells Fargo & Co.	3.158%	07/22/2020	0.7%

% of Total Assets			10.4%

Holding	Coupon	Maturity	Assets

United States Treasury Bill	0.000%	12/26/2019	1.9%
Morgan Stanley	2.731%	02/10/2021	1.4%
Goldman Sachs Group, Inc.	3.419%	04/23/2020	1.2%
Bank of America Corp.	2.938%	07/21/2021	1.0%
FMC Corp.	0.000%	12/27/2019	1.0%
Morgan Stanley	3.458%	01/20/2022	1.0%
Citigroup, Inc.	3.128%	01/10/2020	0.9%
Boeing Co.	0.000%	02/26/2020	0.9%
JPMorgan Chase & Co.	3.003%	03/09/2021	0.8%
Wells Fargo & Co.	3.111%	02/11/2022	0.7%
Energy Transfer Partners L.P.	0.000%	12/04/2019	0.7%
Wells Fargo & Co.	3.158%	07/22/2020	0.7%
Dollar Tree, Inc.	3.003%	04/17/2020	0.7%
JPMorgan Chase & Co.	2.818%	06/01/2021	0.7%
Rogers Communications, Inc.	0.000%	01/09/2020	0.6%
Volkswagen Group of America Finance LLC	2.946%	11/13/2020	0.6%
Bank of America NA	2.482%	05/24/2021	0.6%
Ford Credit Auto Owner Trust 2015-REV1	2.120%	07/15/2026	0.6%
Capital One Prime Auto Receivables Trust 2019-1	2.580%	04/15/2022	0.6%
Crown Castle International Corp.	0.000%	12/09/2019	0.6%
Energy Transfer Partners L.P.	0.000%	12/03/2019	0.5%
Goldman Sachs Group, Inc.	3.377%	04/26/2022	0.5%
World Financial Network Credit Card Master Trust	2.310%	08/15/2024	0.5%
Florida Power & Light Co.	2.639%	05/06/2022	0.5%
EnCana Corp.	0.000%	12/19/2019	0.5%
Boeing Co.	0.000%	03/04/2020	0.5%
Capital One Prime Auto Receivables Trust 2019-2	2.060%	09/15/2022	0.5%
Marriott International, Inc.	0.000%	01/08/2020	0.5%
JPMorgan Chase Bank NA	2.494%	02/19/2021	0.5%
Daimler Finance North America LLC	2.957%	11/05/2021	0.4%
Toronto-Dominion Bank	2.409%	03/17/2021	0.4%
GM Financial Automobile Leasing Trust 2019-3	2.090%	10/20/2021	0.4%
Syngenta Wilmington, Inc.	0.000%	02/14/2020	0.4%
Macquarie Bank Ltd.	2.353%	11/24/2021	0.4%
Royal Caribbean Cruises Ltd.	0.000%	01/27/2020	0.4%
PNC Bank NA	2.709%	07/22/2022	0.4%
Cigna Corp	0.000%	02/26/2020	0.4%
Capital One Multi-Asset Execution Trust	1.990%	07/17/2023	0.4%
Royal Caribbean Cruises Ltd.	0.000%	01/17/2020	0.4%
NBCUniversal Enterprise, Inc.	2.719%	04/01/2021	0.4%
Wells Fargo Bank, N.A.	2.759%	07/23/2021	0.4%
BAT Capital Corp	3.038%	08/15/2022	0.4%
Broadcom Inc	0.000%	01/07/2020	0.4%
Trillium Credit Card Trust II	3.038%	01/26/2024	0.4%
Broadcom Inc	0.000%	01/21/2020	0.4%
Enel Finance America LLC	0.000%	01/23/2020	0.4%
Mylan, Inc.	0.000%	12/13/2019	0.4%
Jackson National Life Global Funding	2.603%	10/15/2020	0.4%
Bank of America NA	2.587%	07/26/2021	0.4%
BMW US Capital LLC	2.750%	04/12/2021	0.4%
Metropolitan Life Global Funding I	2.533%	01/08/2021	0.4%
Cigna Corp	0.000%	01/17/2020	0.4%
Westlake Automobile Receivables Trust 2019-3	2.150%	02/15/2023	0.4%
Cigna Corp	2.760%	03/17/2020	0.4%
Dr. Pepper Snapple Group, Inc.	0.000%	12/06/2019	0.4%
Aviation Capital Group Corp.	0.000%	01/15/2020	0.4%
Wells Fargo & Co.	2.946%	01/30/2020	0.4%
BAT International Finance plc	0.000%	12/06/2019	0.4%
Exeter Automobile Receivables Trust 2019-3	2.590%	09/15/2022	0.4%
Ford Credit Floorplan Master Owner Trust A	2.070%	05/15/2022	0.4%
HSBC Holdings plc	3.086%	09/11/2021	0.3%
PNC Bank NA	2.786%	03/12/2021	0.3%
Royal Bank of Canada	2.676%	01/25/2021	0.3%
Citibank, Inc.	2.654%	02/19/2022	0.3%
Drive Auto Receivables Trust 2019-4	2.320%	06/15/2022	0.3%
Principal Life Global Funding II	2.381%	10/06/2021	0.3%
American Honda Finance Corp.	2.851%	06/27/2022	0.3%
Zimmer Biomet Holdings, Inc.	3.169%	03/19/2021	0.3%
Aviation Capital Group Corp.	0.000%	01/16/2020	0.3%
Chesapeake Funding II LLC	2.245%	01/15/2031	0.3%
Macquarie Bank Ltd.	2.358%	08/06/2021	0.3%
Bank of America Corp.	2.706%	10/01/2021	0.3%
Aviation Capital Group Corp.	0.000%	12/06/2019	0.3%
Cigna Corp	3.060%	09/17/2021	0.3%
BA Credit Card Trust	1.840%	01/17/2023	0.3%
Jabil, Inc.	0.000%	02/18/2020	0.3%
Hyundai Auto Lease Securitization Trust 2018-A	2.810%	04/15/2021	0.3%
Citibank Credit Card Issuance Trust	1.920%	04/07/2022	0.3%
Entergy Corp.	0.000%	02/10/2020	0.3%
Marriott International, Inc.	0.000%	01/27/2020	0.3%
Toronto-Dominion Bank	2.700%	07/30/2021	0.3%
Huntington Ingalls Industries, Inc.	0.000%	12/04/2019	0.3%
Citibank, Inc.	2.829%	07/23/2021	0.3%
KeyBank NA	2.913%	02/01/2022	0.3%
Constellation Brands, Inc.	2.858%	11/15/2021	0.3%
AbbVie, Inc.	2.355%	11/19/2021	0.3%
General Electric Co.	2.931%	01/09/2020	0.3%
Daimler Finance North America LLC	3.058%	02/15/2022	0.3%
HSBC Holdings plc	2.724%	05/18/2021	0.3%
General Motors Financial Co., Inc.	0.000%	01/31/2020	0.3%
CRH America Finance, Inc.	0.000%	12/05/2019	0.3%
Jabil, Inc.	0.000%	02/24/2020	0.3%
Goldman Sachs Group, Inc.	3.250%	12/13/2019	0.3%
Honda Auto Receivables 2019-1 Owner Trust	2.750%	09/20/2021	0.3%
SunTrust Banks, Inc.	2.714%	05/17/2022	0.3%
BMW US Capital LLC	2.676%	08/13/2021	0.3%
JPMorgan Chase & Co.	3.618%	03/01/2021	0.3%
Goldman Sachs Group, Inc.	3.036%	10/31/2022	0.3%
Entergy Corp.	0.000%	01/10/2020	0.3%
Mylan, Inc.	0.000%	12/02/2019	0.3%
AbbVie, Inc.	2.245%	05/21/2021	0.3%
BMW Vehicle Lease Trust 2019-1	2.790%	03/22/2021	0.3%
Nissan Motor Acceptance Corp.	3.016%	09/21/2021	0.3%
Citigroup, Inc.	3.710%	03/30/2021	0.3%
Dominion Gas Holdings LLC	2.719%	06/15/2021	0.3%
Canadian Tire Corp Ltd	0.000%	12/06/2019	0.3%
Daimler Finance North America LLC	2.611%	02/12/2021	0.3%
Master Credit Card Trust II	2.260%	07/21/2021	0.3%
Regions Bank, Birmingham, AL	2.676%	08/13/2021	0.3%
Carvana Auto Receivables Trust 2019-3	2.420%	04/15/2022	0.3%
National Australia Bank Ltd.	2.690%	01/12/2021	0.3%
AT&T, Inc.	0.000%	12/02/2019	0.2%
DuPont de Nemours Inc	0.000%	01/02/2020	0.2%
General Motors Financial Co., Inc.	3.233%	04/13/2020	0.2%
Jabil, Inc.	0.000%	02/28/2020	0.2%
Golden Credit Card Trust	2.215%	12/15/2022	0.2%
DLL 2019-3 LLC	2.130%	01/20/2022	0.2%
Campbell Soup Co.	0.000%	02/06/2020	0.2%
BMW US Capital LLC	2.833%	04/14/2022	0.2%
Ventas Realty L.P.	0.000%	01/24/2020	0.2%
First Investors Auto Owner Trust 2019-2	2.210%	09/16/2024	0.2%
Ford Credit Auto Lease Trust 2018-A	2.930%	06/15/2021	0.2%
Marriott International, Inc.	2.738%	12/01/2020	0.2%
NextEra Energy Capital Holdings, Inc.	2.694%	08/28/2021	0.2%
Discover Card Execution Note Trust	2.255%	07/15/2024	0.2%
Union Bank N.A.	3.072%	03/07/2022	0.2%
Sumitomo Mitsui Banking Corp	2.692%	10/16/2020	0.2%
Bank of Montreal	2.678%	01/22/2021	0.2%
Huntington National Bank	2.454%	02/05/2021	0.2%
Jackson National Life Global Funding	2.720%	03/16/2021	0.2%
American Express Credit Account Master Trust	1.930%	09/15/2022	0.2%
Westlake Automobile Receivables Trust 2019-1	3.510%	05/16/2022	0.2%
Santander Drive Auto Receivables Trust 2018-4	3.270%	01/17/2023	0.2%
Bank of Montreal	2.534%	09/10/2021	0.2%
Caterpillar Financial Services Corp.	2.514%	05/17/2021	0.2%
Royal Bank of Canada	2.653%	07/08/2021	0.2%
Toronto-Dominion Bank	2.540%	12/01/2022	0.2%
Bank of New York Mellon/The	2.413%	06/04/2021	0.2%
BMW Finance NV	2.965%	08/12/2022	0.2%
PNC Bank NA	2.763%	06/10/2021	0.2%
Wells Fargo Bank, N.A.	2.798%	09/09/2022	0.2%
Capital One Multi-Asset Execution Trust	2.000%	01/17/2023	0.2%
Caterpillar Financial Services Corp.	2.412%	03/08/2021	0.2%
BNP Paribas S.A.	2.568%	08/07/2021	0.2%
Dow Chemical Co.	0.000%	12/31/2019	0.2%
AT&T, Inc.	0.000%	12/06/2019	0.2%
Bell Canada, Inc.	0.000%	01/10/2020	0.2%
Southern Power Co	2.937%	12/20/2020	0.2%
Vodafone Group plc	0.000%	12/02/2019	0.2%
E.I. du Pont de Nemours & Co.	0.000%	12/26/2019	0.2%
FMC Technologies, Inc.	0.000%	12/12/2019	0.2%
PVH Corp.	0.000%	12/09/2019	0.2%
Martin Marietta Materials, Inc.	2.800%	05/22/2020	0.2%
Marriott International, Inc.	0.000%	01/28/2020	0.2%
DNB Bank ASA	2.527%	12/02/2022	0.2%
Humana, Inc.	0.000%	01/30/2020	0.2%
Boston Scientific Corp.	0.000%	02/07/2020	0.2%
PVH Corp.	0.000%	12/04/2019	0.2%
Broadcom Inc	0.000%	01/09/2020	0.2%
PVH Corp.	0.000%	12/11/2019	0.2%
Walgreen Co.	0.000%	02/11/2020	0.2%
Bell Canada, Inc.	0.000%	02/26/2020	0.2%
Nissan Master Owner Trust Receivables	2.195%	04/18/2022	0.2%
American Express Co.	2.756%	05/20/2022	0.2%
Citibank, Inc.	2.736%	05/20/2022	0.2%
Royal Caribbean Cruises Ltd.	0.000%	01/14/2020	0.2%
AbbVie, Inc.	2.545%	11/21/2022	0.2%
Drive Auto Receivables Trust 2019-4	2.160%	05/15/2023	0.2%
Westlake Automobile Receivables Trust 2019-2	3.060%	02/15/2023	0.2%
Santander Drive Auto Receivables Trust 2018-3	3.510%	08/15/2023	0.2%
Santander Drive Auto Receivables Trust 2018-2	3.350%	07/17/2023	0.2%
Broadcom Inc	0.000%	12/05/2019	0.2%
Santander Drive Auto Receivables Trust 2015-4	4.540%	11/15/2022	0.2%
Drive Auto Receivables Trust 2018-5	3.680%	07/15/2023	0.2%
Arrow Electronics, Inc.	0.000%	12/26/2019	0.2%
EnCana Corp.	0.000%	01/29/2020	0.2%
Manufacturers & Traders Trust Co	2.915%	12/28/2020	0.2%
Vulcan Materials Co.	2.559%	03/01/2021	0.2%
BAT International Finance plc	0.000%	12/04/2019	0.2%
Hawaiian Electric Co., Inc.	0.000%	12/23/2019	0.2%
World Omni Select Auto Trust 2018-1	3.460%	03/15/2023	0.2%
Ford Motor Credit Co. LLC	3.012%	01/09/2020	0.2%
USAA Auto Owner Trust 2019-1	2.260%	02/15/2022	0.2%
GE Dealer Floorplan Master Note Trust	2.374%	01/20/2022	0.2%
Ford Credit Floorplan Master Owner Trust A	2.390%	08/15/2022	0.2%
PVH Corp.	0.000%	12/19/2019	0.2%
Martin Marietta Materials, Inc.	2.887%	12/20/2019	0.2%
Discover Card Execution Note Trust	1.880%	02/15/2023	0.2%
AT&T, Inc.	3.260%	06/30/2020	0.2%
Ford Credit Floorplan Master Owner Trust A	2.160%	09/15/2022	0.2%
Santander Drive Auto Receivables Trust 2016-1	5.020%	06/15/2023	0.2%
Wells Fargo Bank, N.A.	2.788%	10/22/2021	0.2%
Huntington Ingalls Industries, Inc.	0.000%	12/02/2019	0.2%
Canadian Imperial Bank of Commerce	2.599%	10/05/2020	0.2%
Fifth Third Auto Trust 2019-1	2.660%	05/16/2022	0.2%
New York Life Global Funding	2.780%	07/12/2022	0.2%
Honeywell International, Inc.	2.557%	08/08/2022	0.2%
Boston Scientific Corp.	0.000%	12/06/2019	0.2%
BAT International Finance plc	0.000%	12/03/2019	0.2%
Cigna Corp	0.000%	12/05/2019	0.2%
Arrow Electronics, Inc.	0.000%	12/02/2019	0.2%
Drive Auto Receivables Trust 2019-4	2.230%	01/16/2024	0.2%
Goldman Sachs Group, Inc.	3.636%	04/23/2021	0.2%
Humana, Inc.	0.000%	02/14/2020	0.2%
BAT International Finance plc	0.000%	12/09/2019	0.2%
Walgreen Co.	0.000%	04/24/2020	0.2%
Compass Bank	3.181%	06/11/2021	0.2%
Manufacturers & Traders Trust Co	2.549%	12/01/2021	0.2%
Sempra Energy	2.803%	01/15/2021	0.2%
Prestige Auto Receivables Trust 2019-1	2.440%	07/15/2022	0.2%
Daimler Finance North America LLC	2.933%	01/06/2020	0.2%
Laclede Group, Inc.	0.000%	12/02/2019	0.2%
EnCana Corp.	0.000%	01/02/2020	0.2%
Master Credit Card Trust	2.202%	07/21/2022	0.2%
UBS AG London	2.618%	12/01/2020	0.2%
Entergy Corp.	0.000%	12/13/2019	0.2%
Boston Scientific Corp.	0.000%	01/13/2020	0.2%
Santander Drive Auto Receivables Trust 2018-1	2.630%	07/15/2022	0.2%
Marriott International, Inc.	0.000%	12/10/2019	0.2%
Protective Life Global Funding	2.850%	06/28/2021	0.2%
Daimler Finance North America LLC	2.677%	05/04/2020	0.2%
AmeriCredit Automobile Receivables Trust 2019-3	2.170%	01/18/2023	0.2%
Toronto-Dominion Bank	3.358%	12/14/2020	0.2%
Credit Agricole Corporate & Investment Bank SA	2.957%	10/03/2021	0.2%
AIG Global Funding	2.590%	01/22/2021	0.2%
ConAgra Brands, Inc.	3.028%	10/22/2020	0.2%
Navistar Financial Dealer Note Master Owner Trust	2.338%	09/25/2023	0.2%
First National Master Note Trust 2018-1	2.225%	10/15/2024	0.2%
Ford Motor Credit Co. LLC	2.881%	10/12/2021	0.2%
Nissan Motor Acceptance Corp.	2.930%	03/15/2021	0.2%
International Business Machines Corp.	2.303%	05/13/2021	0.2%
Citizens Bank N.A.	2.895%	02/14/2022	0.2%
Aviation Capital Group Corp.	0.000%	12/03/2019	0.2%
BAT International Finance plc	0.000%	12/23/2019	0.2%
Entergy Corp.	0.000%	01/17/2020	0.2%
Branch Banking & Trust Co.	2.980%	06/15/2020	0.2%
Nissan Auto Receivables 2017-C Owner Trust	2.120%	04/18/2022	0.2%
Bank of Nova Scotia	2.693%	07/14/2020	0.2%
Ford Credit Auto Owner Trust 2019-C	1.880%	07/15/2022	0.2%
Synchrony Credit Card Master Note Trust	2.370%	03/15/2023	0.2%
Campbell Soup Co.	0.000%	01/22/2020	0.2%
World Financial Network Credit Card Master Trust	3.070%	12/16/2024	0.2%
ING Groep NV	3.480%	03/29/2022	0.2%
GM Financial Automobile Leasing Trust 2019-2	2.670%	06/21/2021	0.2%
Synchrony Credit Card Master Note Trust	2.640%	03/15/2023	0.1%
Huntington National Bank	2.963%	03/10/2020	0.1%
Campbell Soup Co.	2.910%	03/16/2020	0.1%
Morgan Stanley	3.208%	07/22/2022	0.1%
Goldman Sachs Group, Inc.	3.041%	12/27/2020	0.1%
Humana, Inc.	0.000%	01/14/2020	0.1%
Prestige Auto Receivables Trust 2019-1	2.450%	05/15/2023	0.1%
Toronto-Dominion Bank	2.670%	09/17/2020	0.1%
GM Financial Consumer Automobile Receivables Trust	2.990%	03/16/2022	0.1%
Bank of Nova Scotia	2.718%	04/20/2021	0.1%
Wells Fargo & Co.	3.473%	03/04/2021	0.1%
New York Life Global Funding	2.559%	08/06/2021	0.1%
WGL Holdings, Inc.	2.986%	03/12/2020	0.1%
ABN Amro Bank NV	2.702%	08/27/2021	0.1%
Conn's Receivables Funding 2019-A LLC	3.400%	10/16/2023	0.1%
Tyco Electronics Group S.A.	2.929%	06/05/2020	0.1%
UBS Group AG	3.439%	02/01/2022	0.1%
Marsh & McLennan Cos., Inc.	3.304%	12/29/2021	0.1%
Royal Caribbean Cruises Ltd.	0.000%	01/06/2020	0.1%
Volkswagen Group of America Finance LLC	2.972%	09/24/2021	0.1%
Standard Chartered plc	3.334%	09/10/2022	0.1%
BP Capital Markets plc	2.160%	11/24/2020	0.1%
GMF Floorplan Owner Revolving Trust	2.065%	03/15/2022	0.1%
General Motors Financial Co., Inc.	0.000%	01/10/2020	0.1%
Mylan, Inc.	0.000%	12/06/2019	0.1%
Mercedes-Benz Auto Lease Trust	2.010%	12/15/2021	0.1%
Black Hills Corp.	0.000%	01/23/2020	0.1%
Aviation Capital Group Corp.	0.000%	01/10/2020	0.1%
Mondelez International, Inc.	0.000%	02/21/2020	0.1%
FMC Technologies, Inc.	0.000%	12/06/2019	0.1%
Sherwin-Williams Co.	0.000%	12/23/2019	0.1%
Entergy Corp.	0.000%	12/04/2019	0.1%
First Investors Auto Owner Trust 2019-1	2.890%	03/15/2024	0.1%
DuPont de Nemours Inc	0.000%	01/03/2020	0.1%
PFS Financing Corp.	2.165%	02/17/2022	0.1%
Walgreen Co.	0.000%	03/30/2020	0.1%
Drive Auto Receivables Trust 2019-3	2.630%	09/15/2022	0.1%
Synchrony Credit Card Master Note Trust	2.380%	09/15/2023	0.1%
Fifth Third Bank, OH	2.707%	07/26/2021	0.1%
EnCana Corp.	0.000%	01/30/2020	0.1%
GMF Floorplan Owner Revolving Trust	2.130%	07/15/2022	0.1%
Conn's Receivables Funding 2019-B LLC	2.660%	06/17/2024	0.1%
GM Financial Consumer Automobile Receivables Trust	1.970%	05/16/2022	0.1%
EnCana Corp.	0.000%	12/05/2019	0.1%
Santander Drive Auto Receivables Trust 2015-4	3.530%	08/16/2021	0.1%
JPMorgan Chase Bank NA	2.607%	04/26/2021	0.1%
Entergy Corp.	0.000%	01/28/2020	0.1%
US Bank NA	2.442%	05/21/2021	0.1%
FMC Technologies, Inc.	0.000%	12/13/2019	0.1%
SCF Equipment Leasing 2019-2 LLC	2.220%	06/20/2024	0.1%
Westlake Automobile Receivables Trust 2018-3	3.320%	10/16/2023	0.1%
American Express Co.	2.887%	11/05/2021	0.1%
Toyota Motor Credit Corp.	2.843%	01/08/2021	0.1%
Royal Bank of Canada	2.726%	04/29/2022	0.1%
TD Ameritrade Holding Corp.	2.683%	11/01/2021	0.1%
Golden Credit Card Trust	1.980%	04/15/2022	0.1%
DLL 2018-1 LLC	3.100%	04/18/2022	0.1%
Chesapeake Funding II LLC	2.120%	11/15/2029	0.1%
General Mills, Inc.	2.862%	04/16/2021	0.1%
Eni Finance USA, Inc.	0.000%	02/20/2020	0.1%
American Honda Finance Corp.	2.714%	06/11/2021	0.1%
John Deere Capital Corp.	2.622%	06/13/2022	0.1%
Comcast Corp.	2.649%	10/01/2020	0.1%
Australia & New Zealand Banking Group Ltd.	2.385%	11/21/2022	0.1%
DuPont de Nemours Inc	0.000%	12/20/2019	0.1%
Campbell Soup Co.	0.000%	01/15/2020	0.1%
PVH Corp.	0.000%	12/05/2019	0.1%
PVH Corp.	0.000%	12/06/2019	0.1%
Marriott International, Inc.	0.000%	01/29/2020	0.1%
Eni Finance USA, Inc.	0.000%	01/24/2020	0.1%
Eni Finance USA, Inc.	0.000%	01/27/2020	0.1%
Public Service Enterprise Group, Inc.	0.000%	01/23/2020	0.1%
Eni Finance USA, Inc.	0.000%	02/11/2020	0.1%
Eni Finance USA, Inc.	0.000%	02/21/2020	0.1%
General Motors Financial Co., Inc.	0.000%	02/12/2020	0.1%
Boston Scientific Corp.	0.000%	01/24/2020	0.1%
UBS AG London	3.031%	06/08/2020	0.1%
GMF Floorplan Owner Revolving Trust	2.580%	01/18/2022	0.1%
Westlake Automobile Receivables Trust 2016-3	3.580%	01/18/2022	0.1%
AmeriCredit Automobile Receivables 2015-4	3.720%	12/08/2021	0.1%
Americredit Automobile Receivables Trust 2019-1	2.023%	06/20/2022	0.1%
Nissan Motor Acceptance Corp.	2.720%	09/28/2020	0.1%
Campbell Soup Co.	0.000%	02/03/2020	0.1%
Entergy Corp.	0.000%	02/14/2020	0.1%
Public Service Enterprise Group, Inc.	0.000%	02/20/2020	0.1%
Mercedes-Benz Master Owner Trust 2018-BA	2.105%	05/15/2023	0.1%
Santander Drive Auto Receivables Trust 2018-2	3.030%	09/15/2022	0.1%
FMC Technologies, Inc.	0.000%	12/03/2019	0.1%
Citigroup, Inc.	3.456%	08/02/2021	0.1%
Boston Scientific Corp.	0.000%	02/04/2020	0.1%
EnCana Corp.	0.000%	01/16/2020	0.1%
Constellation Brands, Inc.	0.000%	01/29/2020	0.1%
Canadian Tire Corp Ltd	0.000%	12/18/2019	0.1%
Lloyds Bank plc	2.699%	05/07/2021	0.1%
Hawaiian Electric Industries, Inc.	0.000%	12/02/2019	0.1%
Harley-Davidson Financial Services Inc	2.652%	05/21/2020	0.1%
Americredit Automobile Receivables Trust 2019-1	2.930%	06/20/2022	0.1%
Federation des Caisses Desjardins du Quebec	2.596%	10/30/2020	0.1%
Capital Auto Receivables Asset Trust 2018-1	2.790%	01/20/2022	0.1%
CNH Capital LLC	0.000%	01/14/2020	0.1%
Motorola Solutions, Inc.	0.000%	12/03/2019	0.1%
Motorola Solutions, Inc.	0.000%	12/18/2019	0.1%
Mitsubishi UFJ Financial Grp, Inc.	2.917%	07/26/2021	0.1%
Viacom, Inc.	0.000%	12/02/2019	0.1%
Gracechurch Card Funding PLC	2.165%	07/15/2022	0.1%
American Express Credit Account Master Trust	1.770%	11/15/2022	0.1%
Amur Equipment Finance Receivables VII LLC	2.630%	06/20/2024	0.1%
DuPont de Nemours Inc	2.868%	11/15/2020	0.1%
Goldman Sachs Group, Inc.	3.902%	02/25/2021	0.1%
John Deere Capital Corp.	2.872%	06/07/2021	0.1%
Walt Disney Co/The	2.502%	09/01/2022	0.1%
MPLX L.P.	3.002%	09/09/2021	0.1%
CRH America Finance, Inc.	0.000%	12/06/2019	0.1%
Canadian Pacific Railway Co.	0.000%	12/19/2019	0.1%
Entergy Corp.	0.000%	12/09/2019	0.1%
Eni Finance USA, Inc.	0.000%	12/02/2019	0.1%
CNH Capital LLC	0.000%	01/08/2020	0.1%
FMC Technologies, Inc.	0.000%	12/05/2019	0.1%
Albemarle Corp.	2.959%	11/15/2022	0.1%
Black Hills Corp.	0.000%	01/22/2020	0.1%
Constellation Brands, Inc.	0.000%	01/22/2020	0.1%
CNH Capital LLC	0.000%	04/17/2020	0.1%
Pentair Finance SA	0.000%	12/04/2019	0.1%
Morgan Stanley	3.390%	06/16/2020	0.1%
Nissan Motor Acceptance Corp.	3.193%	01/13/2022	0.1%
Arrow Electronics, Inc.	0.000%	12/23/2019	0.1%
EnCana Corp.	0.000%	01/21/2020	0.1%
Boston Scientific Corp.	0.000%	01/17/2020	0.1%
Drive Auto Receivables Trust	4.180%	03/15/2024	0.1%
DLL Securitization Trust 2017-A	2.140%	12/15/2021	0.1%
Ford Credit Auto Owner Trust 2019-A	2.780%	02/15/2022	0.1%
Flagship Credit Auto Trust 2018-3	3.070%	02/15/2023	0.1%
CPS Auto Receivables Trust 2019-A	3.180%	06/15/2022	0.1%
CarMax Auto Owner Trust	1.600%	06/15/2022	0.1%
Phillips 66	2.732%	02/26/2021	0.1%
Manufacturers & Traders Trust Co	2.546%	01/25/2021	0.1%
American Express Credit Account Master Trust	2.215%	09/16/2024	0.1%
Regions Bank, Birmingham, AL	2.699%	04/01/2021	0.1%
Hyundai Capital America	0.000%	12/11/2019	0.1%
Drive Auto Receivables Trust 2019-2	2.930%	03/15/2022	0.1%
Experian Finance PLC	0.000%	02/18/2020	0.1%
Motorola Solutions, Inc.	0.000%	12/27/2019	0.1%
World Omni Automobile Lease Securitization Trust 2	2.830%	07/15/2021	0.1%
Drive Auto Receivables Trust	4.160%	05/15/2024	0.1%
Vulcan Materials Co.	3.010%	06/15/2020	0.1%
Hyundai Auto Receivables Trust 2019-B	1.930%	07/15/2022	0.1%
SL Green Operating Partnership L.P.	3.148%	08/16/2021	0.1%
Barclays Dryrock Issuance Trust	2.065%	05/15/2023	0.1%
Constellation Brands, Inc.	0.000%	12/09/2019	0.1%
Daimler Finance North America LLC	3.030%	02/22/2022	0.1%
Constellation Brands, Inc.	0.000%	01/15/2020	0.1%
GM Financial Automobile Leasing Trust 2019-2	2.670%	03/21/2022	0.1%
BMW Floorplan Master Owner Trust	3.150%	05/15/2023	0.1%
Motorola Solutions, Inc.	0.000%	12/11/2019	0.1%
Ally Master Owner Trust	3.290%	05/15/2023	0.1%
Toronto-Dominion Bank	2.516%	01/25/2021	0.1%
Synchrony Credit Card Master Note Trust	3.360%	03/15/2024	0.1%
Textron, Inc.	2.731%	11/10/2020	0.1%
Eni Finance USA, Inc.	0.000%	01/17/2020	0.1%
Morgan Stanley	3.396%	01/27/2020	0.1%
TransCanada Pipelines Ltd.	0.000%	03/23/2020	0.1%
Ford Motor Credit Co. LLC	2.853%	04/05/2021	0.1%
Discover Card Execution Note Trust	1.900%	10/17/2022	0.1%
SunTrust Banks, Inc.	2.767%	10/26/2021	0.1%
General Electric Co.	2.740%	03/28/2020	0.1%
Citigroup, Inc.	3.577%	10/26/2020	0.1%
Danske Bank A/S	2.648%	03/02/2020	0.1%
Daimler Finance North America LLC	2.817%	05/05/2020	0.1%
Santander UK plc	2.758%	06/01/2021	0.1%
NextGear Floorplan Master Owner Trust	2.365%	10/15/2023	0.1%
Capital Auto Receivables Asset Trust 2018-1	2.930%	06/20/2022	0.1%
Enbridge, Inc.	2.738%	01/10/2020	0.1%
Navient Private Education Refi Loan Trust 2019-A	3.030%	01/15/2043	0.1%
Bristol-Myers Squibb Co.	2.368%	11/16/2020	0.1%
Walt Disney Co/The	2.362%	09/01/2021	0.1%
SCF Equipment Leasing 2019-1 LLC	3.040%	03/20/2023	0.1%
Motorola Solutions, Inc.	0.000%	12/26/2019	0.1%
BAT International Finance plc	0.000%	12/05/2019	0.1%
Royal Caribbean Cruises Ltd.	0.000%	01/22/2020	0.1%
Drive Auto Receivables Trust	3.340%	09/15/2022	0.1%
EnCana Corp.	0.000%	12/04/2019	0.1%
Santander Drive Auto Receivables Trust 2016-2	4.380%	09/15/2023	0.1%
Entergy Corp.	0.000%	12/03/2019	0.1%
Capital One Multi-Asset Execution Trust	2.275%	09/16/2024	0.1%
Eni Finance USA, Inc.	0.000%	02/18/2020	0.1%
PFS Financing Corp.	2.400%	10/17/2022	0.1%
Drive Auto Receivables Trust 2018-2	3.630%	08/15/2024	0.1%
NextGear Floorplan Master Owner Trust	2.540%	04/18/2022	0.1%
Phillips 66	3.053%	04/15/2020	0.1%
EnCana Corp.	0.000%	12/03/2019	0.1%
Boston Scientific Corp.	0.000%	01/31/2020	0.1%
Chase Issuance Trust	1.965%	04/17/2023	0.1%
Santander Drive Auto Receivables Trust 2018-5	3.520%	12/15/2022	0.1%
General Electric Co.	3.103%	04/15/2020	0.1%
Citizens Bank N.A.	2.678%	03/02/2020	0.1%
GM Financial Automobile Leasing Trust 2019-1	2.910%	04/20/2021	0.1%
Harris Corp.	2.746%	04/30/2020	0.1%
Capital Auto Receivables Asset Trust 2018-2	3.270%	06/20/2023	0.1%
Santander Drive Auto Receivables Trust 2016-3	2.800%	08/15/2022	0.1%
EnCana Corp.	0.000%	01/14/2020	0.1%
Santander Drive Auto Receivables Trust 2015-5	3.650%	12/15/2021	0.1%
Australia & New Zealand Banking Group Ltd.	2.584%	05/17/2021	0.1%
American Credit Acceptance Receivables Trust 2019-	3.320%	04/12/2023	0.1%
Comcast Corp.	2.759%	10/01/2021	0.1%
Ford Credit Floorplan Master Owner Trust A	1.980%	01/15/2022	0.1%
Wabtec Corp.	3.710%	09/15/2021	0.1%
Marlette Funding Trust 2018-4	3.710%	12/15/2028	0.1%
Foursight Capital Automobile Receivables Trust 201	3.320%	04/15/2022	0.1%
Chesapeake Funding II LLC	2.105%	08/15/2029	0.1%
Americredit Automobile Receivables Trust 2018-2	2.860%	11/18/2021	0.1%
Flagship Credit Auto Trust 2018-2	2.970%	10/17/2022	0.1%
Capital Auto Receivables Asset Trust 2018-2	3.020%	02/22/2021	0.1%
Citibank, Inc.	2.578%	10/20/2020	0.1%
Boston Scientific Corp.	0.000%	01/10/2020	0.1%
CPS Auto Trust	3.310%	12/15/2022	0.1%
DLL 2018-2 LLC	3.140%	10/20/2020	0.1%
Express Scripts Holding Co.	2.874%	11/30/2020	0.1%
Amur Equipment Finance Receivables VI LLC	3.890%	07/20/2022	0.1%
BAT Capital Corp	2.765%	08/14/2020	0.0%
Capital One Financial Corp.	2.664%	05/12/2020	0.0%
Daimler Finance North America LLC	2.837%	05/04/2021	0.0%
ConAgra Brands, Inc.	2.811%	10/09/2020	0.0%
Branch Banking & Trust Co.	2.129%	06/01/2020	0.0%
Santander UK plc	2.587%	11/03/2020	0.0%
Citibank Credit Card Issuance Trust	2.880%	01/23/2023	0.0%
Huntington Ingalls Industries, Inc.	0.000%	12/03/2019	0.0%
PVH Corp.	0.000%	12/18/2019	0.0%
Marlette Funding Trust 2018-3	3.200%	09/15/2028	0.0%
Aviation Capital Group Corp.	0.000%	01/06/2020	0.0%
Dell Equipment Finance Trust 2018-1	2.970%	10/22/2020	0.0%
ABN Amro Bank NV	2.713%	01/19/2021	0.0%
World Omni Select Auto Trust 2018-1	3.240%	04/15/2022	0.0%
Aviation Capital Group Corp.	3.082%	06/01/2021	0.0%
American Express Credit Account Master Trust	2.670%	10/17/2022	0.0%
QUALCOMM, Inc.	2.686%	05/20/2020	0.0%
Lloyds Banking Group plc	3.186%	06/21/2021	0.0%
Aviation Capital Group Corp.	2.936%	07/30/2021	0.0%
Bayer US Finance II LLC	2.979%	06/25/2021	0.0%
American Express Credit Corp.	3.478%	09/14/2020	0.0%
FREED ABS TRUST 2018-2	3.990%	10/20/2025	0.0%
General Motors Financial Co., Inc.	3.853%	01/14/2022	0.0%
Australia & New Zealand Banking Group Ltd.	2.505%	11/09/2020	0.0%
Becton, Dickinson & Co.	3.194%	12/29/2020	0.0%
BMW US Capital LLC	2.683%	04/06/2022	0.0%
ACC Trust 2019-1	3.750%	05/20/2022	0.0%
E.I. du Pont de Nemours & Co.	0.000%	12/31/2019	0.0%
TELUS Corp.	0.000%	02/04/2020	0.0%
General Motors Financial Co., Inc.	0.000%	02/28/2020	0.0%
Conn's Receivables Funding 2018-A LLC	3.250%	01/15/2023	0.0%
Master Credit Card Trust II	3.400%	01/21/2022	0.0%
BA Credit Card Trust	1.950%	08/15/2022	0.0%
Huntington Ingalls Industries, Inc.	0.000%	12/05/2019	0.0%
California Republic Auto Receivables Trust 2017-1	2.280%	06/15/2022	0.0%
Drive Auto Receivables Trust	3.720%	09/16/2024	0.0%
Branch Banking & Trust Co.	3.018%	01/15/2020	0.0%
Enterprise Fleet Financing LLC	2.870%	10/20/2023	0.0%
Westlake Automobile Receivables Trust 2018-3	2.980%	01/18/2022	0.0%
Barclays Dryrock Issuance Trust	2.095%	07/15/2024	0.0%
Drive Auto Receivables Trust	3.360%	10/17/2022	0.0%
Aviation Capital Group Corp.	0.000%	12/13/2019	0.0%
General Motors Financial Co., Inc.	3.863%	01/15/2020	0.0%
Daimler Finance North America LLC	2.600%	02/22/2021	0.0%
First Investors Auto Owner Trust 2018-2	3.230%	12/15/2022	0.0%
Americredit Automobile Receivables Trust 2018-3	3.110%	01/18/2022	0.0%
Americredit Automobile Receivables Trust 2018-3	2.013%	01/18/2022	0.0%
Toyota Auto Receivables 2018-A Owner Trust	2.350%	05/16/2022	0.0%
Drive Auto Receivables Trust	4.530%	08/15/2023	0.0%
Drive Auto Receivables Trust	3.720%	10/17/2022	0.0%
Sofi Professional Loan Program 2018-B Trust	2.640%	08/25/2047	0.0%
Morgan Stanley	3.678%	04/21/2021	0.0%
Commonwealth Bank of Australia	2.802%	09/18/2020	0.0%
Nissan Motor Acceptance Corp.	2.693%	07/13/2020	0.0%
SCF Equipment Leasing 2018-1 LLC	3.630%	10/20/2024	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	2.710%	09/08/2022	0.0%
Nissan Motor Acceptance Corp.	2.883%	01/13/2020	0.0%
CarMax Auto Owner Trust	3.110%	08/15/2022	0.0%
Becton, Dickinson & Co.	3.164%	06/06/2022	0.0%
AmeriCredit Automobile Receivables Trust 2017-4	2.040%	07/18/2022	0.0%
PFS Financing Corp.	2.365%	02/17/2022	0.0%
CPS Auto Receivables Trust 2014-C	4.830%	08/17/2020	0.0%
GE Capital International Funding Co.	2.342%	11/15/2020	0.0%
Honda Auto Receivables 2017-3 Owner Trust	1.790%	09/20/2021	0.0%
Springleaf Funding Trust 2016-A	2.900%	11/15/2029	0.0%
Capital Auto Receivables Asset Trust 2018-2	3.480%	10/20/2023	0.0%
Wells Fargo Bank, N.A.	2.752%	05/27/2022	0.0%
Constellation Brands, Inc.	0.000%	01/24/2020	0.0%
CPS Auto Receivables Trust 2016-C	5.920%	06/15/2022	0.0%
Westlake Automobile Receivables Trust 2018-2	3.500%	01/16/2024	0.0%
Ford Motor Credit Co. LLC	2.696%	11/02/2020	0.0%
Foursight Capital Automobile Receivables Trust 201	3.240%	09/15/2022	0.0%
Verizon Owner Trust 2017-1	2.450%	09/20/2021	0.0%
World Financial Network Credit Card Master Trust	2.550%	06/17/2024	0.0%
General Motors Co.	3.009%	08/07/2020	0.0%
Sofi Professional Loan Program 2018-A LLC	2.390%	02/25/2042	0.0%
GATX Corp.	3.007%	11/05/2021	0.0%
Walgreen Co.	0.000%	04/23/2020	0.0%
AvalonBay Communities, Inc.	2.433%	01/15/2021	0.0%
UBS Group AG	3.575%	09/24/2020	0.0%
Drive Auto Receivables Trust	3.660%	11/15/2024	0.0%
American Express Co.	2.596%	10/30/2020	0.0%
AT&T, Inc.	3.253%	07/15/2021	0.0%
National Australia Bank Ltd.	2.967%	09/20/2021	0.0%
SMB Private Education Loan Trust 2018-B	2.085%	12/16/2024	0.0%
EnCana Corp.	0.000%	01/15/2020	0.0%
Ascentium Equipment Receivables 2017-1 Trust	2.290%	06/10/2021	0.0%
FREED ABS TRUST 2018-1	3.610%	07/18/2024	0.0%
KeyBank NA	2.960%	11/22/2021	0.0%
Chesapeake Funding II LLC	2.105%	11/15/2029	0.0%
Wheels SPV 2 LLC	3.060%	04/20/2027	0.0%
AT&T, Inc.	2.634%	01/15/2020	0.0%
CPS Auto Trust	3.430%	07/15/2022	0.0%
Exeter Automobile Receivables Trust 2016-3	4.220%	06/15/2022	0.0%
Smithfield Foods, Inc.	2.700%	01/31/2020	0.0%
Pentair Finance SA	2.650%	12/01/2019	0.0%
GM Financial Automobile Leasing Trust 2017-2	2.430%	06/21/2021	0.0%
PTL Finance Corp.	3.050%	01/09/2020	0.0%
Walgreen Co.	0.000%	02/21/2020	0.0%
CVS Caremark Corp.	3.083%	03/09/2020	0.0%
American Credit Acceptance Receivables Trust 2018-	3.550%	04/10/2024	0.0%
PNC Bank NA	2.528%	01/22/2021	0.0%
First National Master Note Trust 2017-2	2.205%	10/16/2023	0.0%
General Motors Financial Co., Inc.	0.000%	12/02/2019	0.0%
CVS Caremark Corp.	3.173%	03/09/2021	0.0%
United Technologies Corp.	2.818%	08/16/2021	0.0%
Volkswagen Group of America Finance LLC	3.121%	11/12/2021	0.0%
Citibank, Inc.	2.936%	06/12/2020	0.0%
Danske Bank A/S	2.648%	03/02/2020	0.0%
CPS Auto Receivables Trust 2016-C	3.270%	06/15/2022	0.0%
Royal Bank of Canada	2.507%	10/26/2020	0.0%
General Electric Co.	2.500%	03/28/2020	0.0%
American Credit Acceptance Receivables Trust 2016-	4.260%	08/12/2022	0.0%
Citizens Bank N.A.	2.727%	05/26/2022	0.0%
Goldman Sachs Group, Inc.	3.610%	09/15/2020	0.0%
Westlake Automobile Receivables Trust 2018-1	2.920%	05/15/2023	0.0%
Santander Drive Auto Receivables Trust 2016-3	2.460%	03/15/2022	0.0%
Mississippi Power Co.	2.961%	03/27/2020	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	2.240%	04/08/2022	0.0%
Westgate Resorts 2018-1 LLC	3.380%	12/20/2031	0.0%
Jackson National Life Global Funding	2.931%	06/11/2021	0.0%
BMW US Capital LLC	2.683%	04/06/2020	0.0%
Capital Auto Receivables Asset Trust 2017-1	2.020%	08/20/2021	0.0%
Wells Fargo Bank, N.A.	2.613%	01/15/2021	0.0%
Citigroup, Inc.	3.523%	12/08/2021	0.0%
MMAF Equipment Finance LLC 2014-A	1.590%	02/08/2022	0.0%
SOFI PROFESSIONAL LOAN PROGRAM 2017-F LLC	2.050%	01/25/2041	0.0%
Chesapeake Funding II LLC	1.990%	05/15/2029	0.0%
Citizens Bank N.A.	2.702%	05/26/2020	0.0%
CPS Auto Trust	2.870%	09/15/2021	0.0%
ING Bank NV	3.094%	08/17/2020	0.0%
Assurant, Inc.	3.583%	03/26/2021	0.0%
OneMain Financial Issuance Trust 2016-1A	3.660%	02/20/2029	0.0%
CPS Auto Receivables Trust 2017-D	2.430%	01/18/2022	0.0%
DLL 2018-1 LLC	2.810%	11/17/2020	0.0%
Flagship Credit Auto Trust 2016-1	3.910%	06/15/2022	0.0%
Americredit Automobile Receivables Trust 2016-4	1.830%	12/08/2021	0.0%
World Omni Automobile Lease Securitization Trust 2	2.480%	08/15/2022	0.0%
Capital Auto Receivables Asset Trust	3.340%	03/22/2021	0.0%
CarMax Auto Owner Trust	1.400%	08/15/2021	0.0%
CPS Auto Receivables Trust 2018-A	2.770%	04/18/2022	0.0%
Drive Auto Receivables Trust 2017-2	2.750%	09/15/2023	0.0%
HSBC Holdings plc	3.792%	05/25/2021	0.0%
Santander Drive Auto Receivables Trust 2016-2	3.390%	04/15/2022	0.0%
Canadian Imperial Bank of Commerce	2.581%	02/02/2021	0.0%
CPS Auto Receivables Trust 2018-B	3.230%	07/15/2022	0.0%
Chesapeake Funding II LLC	2.215%	05/15/2029	0.0%
CPS Auto Receivables Trust 2018-B	2.720%	09/15/2021	0.0%
CCG Receivables Trust 2018-1	2.500%	06/16/2025	0.0%
Capital Auto Receivables Asset Trust 2015-4	3.620%	05/20/2021	0.0%
Exeter Automobile Receivables Trust 2017-1	3.950%	12/15/2022	0.0%
Master Credit Card Trust II	2.560%	07/21/2021	0.0%
SoFi Professional Loan Program 2017-E LLC	1.860%	11/26/2040	0.0%
Drive Auto Receivables Trust 2017-1	2.840%	04/15/2022	0.0%
Chesapeake Funding II LLC	1.910%	08/15/2029	0.0%
Drive Auto Receivables Trust	2.980%	01/18/2022	0.0%
California Republic Auto Receivables Trust 2015-4	2.580%	06/15/2021	0.0%
Avid Automobile Receivables Trust 2018-1	2.840%	08/15/2023	0.0%
SoFi Consumer Loan Program 2016-2 LLC	3.090%	10/27/2025	0.0%
Barclays Dryrock Issuance Trust 2017-1	2.095%	03/15/2023	0.0%
Drive Auto Receivables Trust 2017-3	2.800%	07/15/2022	0.0%
Enterprise Fleet Financing LLC	1.970%	01/20/2023	0.0%
Flagship Credit Auto Trust 2017-4	2.070%	04/15/2022	0.0%
Capital Auto Receivables Asset Trust 2016-2	2.110%	03/22/2021	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	1.800%	10/08/2021	0.0%
Access Point Funding I 2017-1 LLC	3.060%	04/15/2029	0.0%
Flagship Credit Auto Trust 2017-3	1.880%	10/15/2021	0.0%
ACC Trust 2018-1	3.700%	12/21/2020	0.0%
AmeriCredit Automobile Receivables Trust 2015-3	2.730%	03/08/2021	0.0%
TCF Auto Receivables Owner Trust 2016-PT1	1.930%	06/15/2022	0.0%
Enterprise Fleet Financing LLC	2.130%	07/20/2022	0.0%
California Republic Auto Receivables Trust 2016-2	1.830%	12/15/2021	0.0%
California Republic Auto Receivables Trust 2018-1	2.860%	03/15/2021	0.0%
Sofi Professional Loan Program 2017-C LLC	1.750%	07/25/2040	0.0%
Toyota Auto Receivables 2016-D Owner Trust	1.230%	10/15/2020	0.0%
Carmax Auto Owner Trust	1.390%	05/17/2021	0.0%
Engs Commercial Finance Trust	2.630%	02/22/2022	0.0%
First Investors Auto Owner Trust 2016-2	1.870%	11/15/2021	0.0%
Nissan Auto Receivables 2016-B Owner Trust	1.320%	01/15/2021	0.0%
CPS Auto Receivables Trust 2017-C	2.300%	07/15/2021	0.0%

Dividends & Cap Gains

DIVIDEND PAYMENTS

For

YTD Dividends Paidas of 01/23/2020: $0
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	12/31/2019	$0.01799	$10.03
Daily	Daily	11/30/2019	$0.01814	$10.03
Daily	Daily	10/31/2019	$0.01961	$10.03
Daily	Daily	09/30/2019	$0.02019	$10.03
Daily	Daily	08/31/2019	$0.02084	$10.03
Daily	Daily	07/31/2019	$0.02183	$10.03
Daily	Daily	06/30/2019	$0.02202	$10.03
Daily	Daily	05/31/2019	$0.02300	$10.02
Daily	Daily	04/30/2019	$0.02270	$10.02
Daily	Daily	03/31/2019	$0.02386	$10.02
Daily	Daily	02/28/2019	$0.02213	$10.01
Daily	Daily	01/31/2019	$0.02360	$10.00

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date	Ex-Dividend Date	Reinvest & Payable Date
Daily	Daily	01/31/2020
Daily	Daily	02/29/2020
Daily	Daily	03/31/2020
Daily	Daily	04/30/2020
Daily	Daily	05/31/2020
Daily	Daily	06/30/2020
Daily	Daily	07/31/2020
Daily	Daily	08/31/2020
Daily	Daily	09/30/2020
Daily	Daily	10/31/2020
Daily	Daily	11/30/2020
Daily	Daily	12/31/2020

CAPITAL GAINS DISTRIBUTIONS

For

Record Date	Reinvest & Payable Date	Long-term	Short-term *	Total	Reinvest Price
12/14/2017	12/15/2017	-	$0.0003	$0.0003	$10.01

Upcoming Capital Gain Distribution

Record Date	Ex-Dividend Date
12/17/2020	12/18/2020

Fees & Expenses

EXPENSE RATIOas of 12/31/2019

Fund Gross Expense Ratio	Fund Net Expense Ratio
0.34%	0.27%

Expense ratio details, Click here.

The net expense ratio takes into account contractual fee waivers/expense reimbursements that currently are scheduled to remain in place through 03/31/2020. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower.

Fund Documents

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	Summary Prospectus Publish Date:11/03/2015
n/a	Statutory Prospectus Publish Date:11/03/2015
n/a	Prospectus (XBRL) 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.

The Ultra Short Bond Fund’s 7 Day Yield are shown with and without sales charges and with maximum sales charges. The Fund’s 7 Day 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.

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.

The Fund’s 7 Day Yield is shown without sales charges. The Fund’s Subsidized 7 Day Yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s 7 Day 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.

⁴The Ultra Short Bond Fund's 7 Day Yield is computed by averaging daily income dividends declared (net of expenses) in the Fund over the previous 7 days, and dividing that annualized rate by the Fund’s NAV. This is a rolling calculation, updated daily.

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

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

IMPORTANT INFORMATION

New Fund Risk: The Fund is newly organized. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investing strategy.

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. Debt securities are subject to credit risk, which is the risk that the issuer will fail to make timely payments of interest and principal to the Fund. 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. Although the Fund may invest in money market securities, this is not a money market fund. These factors can affect Fund performance. As it is a newly organized fund, the Fund’s performance at this time is very limited. The Fund's performance achieved during its initial period of investment operation may not be replicated over longer periods and may not be indicative of how the Fund will perform in the future. Past performance is no guarantee of future results.

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.

Class R5 - The inception date for Class R5 shares is June 30, 2015. The performance quotations for Class R5 are based on the following methods of calculation: (a) for periods prior to June 30, 2015, a restated figure is used based on the historical performance of the Fund’s portfolio since inception to reflect all charges and fees applicable to Class R5 shares; and (b) for periods after June 30, 2015, actual Class R5 performance is used, which reflects all charges and fees applicable to Class R5 shares.

Class R5 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

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 ICE BofA ML U.S. Treasury Bill Index tracks the performance of US dollar denominated US Treasury Bills publicly issued in the US domestic market. Qualifying securities must have at least one month remaining term to final maturity and a minimum amount outstanding of $1 billion. The benchmark has not been examined by Deloitte & Touche LLP.

Source: ICE Data Indices, LLC.

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

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.

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.

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Summary

Summary

What is the Ultra Short Bond Fund ?

The Fund seeks to deliver current income consistent with the preservation of capital by investing in a broad range of investment grade ultra-short fixed income and money market securities with a weighted average duration of less than one year.

Yield

7 Day Yield 1,4 as of 01/23/2020

30-Day Standardized Yield 2 as of 12/31/2019

Fund Basicsas of 12/31/2019

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

RELATED CONTENT

Credit Quality Distribution as of 12/31/2019 View Portfolio

INVESTMENT TEAM

Your Representative

Performance

Performance

NAV HISTORICAL PRICES

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Portfolio

Portfolio

CREDIT QUALITY DISTRIBUTION as of 12/31/2019

Portfolio Positioning as of 12/31/2019

Portfolio Details as of 12/31/2019

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

Upcoming Dividend Payment Dates

CAPITAL GAINS DISTRIBUTIONS

Upcoming Capital Gain Distribution

7 Day Yield ^1,4 as of 01/23/2020

30-Day Standardized Yield ² as of 12/31/2019