Ultra Short Bond Fund

LUBVX

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Daily price w/o sales charge as of 06/17/2019

$10.03

$0.00

YTD Returns w/o sales charge as of 06/17/2019

1.69%

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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 06/17/2019

	Subsidized³	Un-Subsidized³
w/o sales charge	2.67%	2.60%

30-Day Standardized Yield ² as of 05/31/2019

	Subsidized⁵	Un-Subsidized⁶
w/o sales charge	2.60%	2.54%

Fund Basicsas of 05/31/2019

Total Net Assets: $16.88 B
Inception Date: 10/17/2016
Dividend Frequency: Monthly
Fund Gross Expense Ratio: 0.34%
Fund Net Expense Ratio: 0.27%
Number of Holdings: 665

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	1.46%	2.73%	-	-	-	2.05%
Lipper Category Avg. Ultra-Short Obligations Funds	1.49%	2.53%	-	-	-	-
ICE BofAML U.S. Treasury Bill Index	1.06%	2.31%	-	-	-	1.45%

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	1.00%	2.75%	-	-	-	2.00%
Lipper Category Avg. Ultra-Short Obligations Funds	0.96%	2.36%	-	-	-	-
ICE BofAML U.S. Treasury Bill Index	0.62%	2.17%	-	-	-	1.38%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

Credit Quality Distribution as of 05/31/2019 View Portfolio

Rating	Assets
A-1/P-1
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

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

Portfolio Manager

11 Years of Industry Experience

Yoana Koleva, CFA

Managing Director & Portfolio Manager

16 Years of Industry Experience

Supported By 67 Investment Professionals with 15 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	1.46%	2.73%	-	-	-	2.05%
Lipper Category Avg. Ultra-Short Obligations Funds	1.49%	2.53%	-	-	-	-
ICE BofAML U.S. Treasury Bill Index	1.06%	2.31%	-	-	-	1.45%

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	1.00%	2.75%	-	-	-	2.00%
Lipper Category Avg. Ultra-Short Obligations Funds	0.96%	2.36%	-	-	-	-
ICE BofAML U.S. Treasury Bill Index	0.62%	2.17%	-	-	-	1.38%

Fund Expense Ratio :

Gross 0.34%

Net 0.27%

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

2018	2.10%	1.88%
2017	1.60%	0.82%
2016	0.19%	0.37%

Year	Q1	Q2	Q3	Q4	Yearly Returns

2019	1.00%	-	-	-	1.69%
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

Maturity	Assets
Less than 1 year
1-2.99 years

CREDIT QUALITY DISTRIBUTION as of 05/31/2019

Rating	Assets
A-1/P-1
A-2/P-2
A-3/P-3
U.S. Treasury
AAA
AA
A
BBB

Portfolio Positioning as of 03/31/2019

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 2.60%, 21 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.
After markets experienced a volatile end to 2018, we increased our allocation to floating rate notes in the beginning of 2019 as valuations appeared more attractive. While much of the asset class is comprised of financial issuers, we remain attracted to the financials sector as its quality profile has improved relative to pre-crisis periods given more robust underlying mortgage assets, more conservative management teams, and stricter regulations.
We also increased the portfolio’s allocation to asset-backed securities ("ABS"). We remain attracted to high quality ABS that are backed by auto loans and credit card receivables and believe this area of the market offers relative value and opportunities to capture risk-adjusted spread.
We decreased the portfolio’s allocation to commercial paper, reallocating a portion of the portfolio’s exposure into floating rate notes and asset-backed securities as commercial paper matured.

Portfolio Details as of 05/31/2019

Total Net Assets: $16.88 B
Number of Issues: 665
Average Coupon: 2.13%
Average Life: 0.88 Years
Average Effective Duration: 0.25 Years

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

Holding	Coupon	Maturity	Assets

United States Treasury Bill	0.000%	07/02/2019	2.0%
Goldman Sachs Group, Inc.	3.932%	04/23/2020	1.4%
Morgan Stanley	3.247%	02/10/2021	1.3%
Broadcom Inc	0.000%	06/06/2019	1.2%
Citigroup, Inc.	3.573%	01/10/2020	1.2%
Wells Fargo & Co.	3.472%	07/22/2020	0.9%
JPMorgan Chase & Co.	3.306%	06/01/2021	0.8%
Energy Transfer Partners L.P.	0.000%	06/06/2019	0.8%
AutoNation, Inc.	0.000%	06/04/2019	0.8%
BAT International Finance plc	0.000%	07/02/2019	0.8%

% of Total Assets			11.2%

Holding	Coupon	Maturity	Assets

United States Treasury Bill	0.000%	05/30/2019	2.0%
Goldman Sachs Group, Inc.	3.932%	04/23/2020	1.4%
Morgan Stanley	3.168%	02/10/2021	1.4%
Citigroup, Inc.	3.573%	01/10/2020	1.2%
Northrop Grumman Corp.	0.000%	05/22/2019	1.0%
Wells Fargo & Co.	3.472%	07/22/2020	0.9%
Johnson Controls International plc	0.000%	05/01/2019	0.9%
JPMorgan Chase & Co.	3.418%	06/01/2021	0.9%
Broadcom Inc	0.000%	05/02/2019	0.9%
Glencore Funding LLC	0.000%	05/01/2019	0.8%
BAT International Finance plc	0.000%	07/02/2019	0.8%
Energy Transfer Partners L.P.	0.000%	05/01/2019	0.7%
AutoNation, Inc.	0.000%	05/06/2019	0.7%
Ford Credit Auto Owner Trust 2014-REV2	2.310%	04/15/2026	0.7%
Bank of America NA	2.879%	08/28/2020	0.7%
World Financial Network Credit Card Master Trust	2.310%	08/15/2024	0.7%
UBS AG London	3.027%	05/28/2019	0.6%
BAT International Finance plc	0.000%	05/03/2019	0.6%
Sumitomo Mitsui Banking Corp	3.123%	01/17/2020	0.6%
Bank of America Corp.	3.252%	07/21/2021	0.6%
Dollar Tree, Inc.	3.473%	04/17/2020	0.6%
JPMorgan Chase Bank NA	3.053%	02/19/2021	0.6%
Campbell Soup Co.	0.000%	06/24/2019	0.6%
Energy Transfer Partners L.P.	0.000%	05/07/2019	0.6%
Wells Fargo Bank, N.A.	3.017%	01/15/2020	0.6%
Comcast Corp.	3.127%	10/01/2020	0.5%
NBCUniversal Enterprise, Inc.	3.197%	04/01/2021	0.5%
Trillium Credit Card Trust II	3.038%	01/26/2024	0.5%
Chesapeake Funding II LLC	2.953%	01/15/2031	0.5%
Jackson National Life Global Funding	3.087%	10/15/2020	0.5%
Metropolitan Life Global Funding I	3.034%	01/08/2021	0.5%
Cigna Corp	3.138%	03/17/2020	0.5%
Toronto-Dominion Bank	3.048%	09/17/2020	0.5%
Wells Fargo & Co.	3.431%	01/30/2020	0.4%
Royal Caribbean Cruises Ltd.	0.000%	05/22/2019	0.4%
Verizon Communications, Inc.	3.203%	05/22/2020	0.4%
JPMorgan Chase Bank NA	2.968%	09/01/2020	0.4%
HSBC Holdings plc	3.426%	09/11/2021	0.4%
PNC Bank NA	2.947%	03/12/2021	0.4%
Citibank, Inc.	3.213%	02/19/2022	0.4%
Royal Bank of Canada	3.171%	01/25/2021	0.4%
American Honda Finance Corp.	2.768%	10/19/2020	0.4%
Arrow Electronics, Inc.	0.000%	05/23/2019	0.4%
Wells Fargo Bank, N.A.	3.272%	07/23/2021	0.4%
JPMorgan Chase & Co.	3.317%	03/09/2021	0.4%
BA Credit Card Trust	1.840%	01/17/2023	0.4%
Entergy Corp.	0.000%	05/21/2019	0.4%
Citibank Credit Card Issuance Trust	1.920%	04/07/2022	0.4%
Eni Finance USA, Inc.	0.000%	05/31/2019	0.4%
Conn's Receivables Funding 2019-A LLC	3.400%	10/16/2023	0.4%
Boston Scientific Corp.	0.000%	05/21/2019	0.4%
Capital One Multi-Asset Execution Trust	1.990%	07/17/2023	0.4%
GM Financial Consumer Automobile Receivables Trust	2.990%	03/16/2022	0.4%
Humana, Inc.	0.000%	05/13/2019	0.4%
Honda Auto Receivables 2019-1 Owner Trust	2.750%	09/20/2021	0.4%
Caterpillar Financial Services Corp.	2.896%	08/26/2020	0.4%
Dr. Pepper Snapple Group, Inc.	0.000%	05/21/2019	0.4%
Williams Cos., Inc.	0.000%	05/01/2019	0.4%
Santander Drive Auto Receivables Trust 2018-1	2.630%	07/15/2022	0.4%
Cabela's Credit Card Master Note Trust	3.323%	06/15/2022	0.4%
Goldman Sachs Group, Inc.	3.579%	12/13/2019	0.4%
Westlake Automobile Receivables Trust 2019-1	3.510%	05/16/2022	0.3%
IBM Credit LLC	3.177%	11/30/2020	0.3%
JPMorgan Chase & Co.	4.218%	03/01/2021	0.3%
Sempra Energy	3.037%	07/15/2019	0.3%
Humana, Inc.	0.000%	05/06/2019	0.3%
General Electric Co.	3.417%	01/09/2020	0.3%
Master Credit Card Trust II	2.260%	07/21/2021	0.3%
Enbridge US Inc	0.000%	05/01/2019	0.3%
National Australia Bank Ltd.	3.147%	01/12/2021	0.3%
Bank of Montreal	3.137%	07/13/2020	0.3%
World Financial Network Credit Card Master Trust	1.980%	06/15/2023	0.3%
Golden Credit Card Trust	2.923%	12/15/2022	0.3%
AutoNation, Inc.	0.000%	05/01/2019	0.3%
HSBC Holdings plc	3.240%	05/18/2021	0.3%
US Bank NA	3.029%	07/24/2020	0.3%
Toyota Motor Credit Corp.	3.027%	07/15/2020	0.3%
National Bank of Canada	3.336%	06/12/2020	0.3%
NextEra Energy Capital Holdings, Inc.	3.257%	08/28/2021	0.3%
Discover Card Execution Note Trust	2.963%	07/15/2024	0.3%
Huntington National Bank	3.283%	02/05/2021	0.3%
Marriott International, Inc.	3.229%	12/01/2020	0.3%
Union Bank N.A.	3.207%	03/07/2022	0.3%
Bank of Montreal	3.152%	01/22/2021	0.3%
Sumitomo Mitsui Banking Corp	3.149%	10/16/2020	0.3%
John Deere Capital Corp.	3.203%	07/10/2020	0.3%
Jackson National Life Global Funding	3.065%	04/27/2020	0.3%
FMC Corp.	0.000%	05/20/2019	0.3%
NiSource, Inc.	0.000%	05/01/2019	0.3%
Jackson National Life Global Funding	2.909%	03/16/2021	0.3%
Eni Finance USA, Inc.	0.000%	05/08/2019	0.3%
Enable Midstream Partners L.P.	0.000%	05/02/2019	0.3%
American Honda Finance Corp.	2.796%	02/21/2020	0.3%
Enable Midstream Partners L.P.	0.000%	05/01/2019	0.3%
Bunge Asset Funding Corp	0.000%	05/24/2019	0.3%
Bell Canada, Inc.	0.000%	06/17/2019	0.3%
Northrop Grumman Corp.	0.000%	06/19/2019	0.3%
Drive Auto Receivables Trust 2019-2	2.930%	03/15/2022	0.3%
Molson Coors Brewing Co.	0.000%	06/03/2019	0.3%
Arrow Electronics, Inc.	0.000%	05/01/2019	0.3%
Santander Drive Auto Receivables Trust 2018-4	3.270%	01/17/2023	0.3%
American Express Credit Account Master Trust	1.930%	09/15/2022	0.3%
Fidelity National Information Services, Inc.	0.000%	05/16/2019	0.3%
BAT International Finance plc	0.000%	07/09/2019	0.3%
Crown Castle International Corp.	0.000%	05/22/2019	0.3%
Crown Castle International Corp.	0.000%	05/23/2019	0.3%
UDR, Inc.	0.000%	05/29/2019	0.3%
Capital One Multi-Asset Execution Trust	2.000%	01/17/2023	0.3%
Nissan Master Owner Trust Receivables	2.903%	04/18/2022	0.3%
Entergy Corp.	0.000%	07/26/2019	0.3%
FMC Corp.	0.000%	05/13/2019	0.3%
Royal Caribbean Cruises Ltd.	0.000%	05/09/2019	0.3%
Glencore Funding LLC	0.000%	07/17/2019	0.3%
Daimler Finance North America LLC	3.252%	11/05/2021	0.3%
Royal Bank of Canada	2.892%	07/22/2020	0.3%
Morgan Stanley	3.941%	01/20/2022	0.3%
Constellation Brands, Inc.	0.000%	05/06/2019	0.3%
Regions Bank, Birmingham, AL	3.118%	08/13/2021	0.3%
Southern Power Co	3.342%	12/20/2020	0.3%
General Motors Financial Co., Inc.	0.000%	05/02/2019	0.3%
Santander Drive Auto Receivables Trust 2015-4	4.540%	11/15/2022	0.3%
Drive Auto Receivables Trust 2018-5	3.680%	07/15/2023	0.2%
DLL 2018-2 LLC	3.140%	10/20/2020	0.2%
Fifth Third Auto Trust 2019-1	2.660%	05/16/2022	0.2%
World Omni Select Auto Trust 2018-1	3.460%	03/15/2023	0.2%
Enable Midstream Partners L.P.	0.000%	06/04/2019	0.2%
GE Dealer Floorplan Master Note Trust	3.137%	01/20/2022	0.2%
Ford Motor Credit Co. LLC	3.797%	01/09/2020	0.2%
General Motors Financial Co., Inc.	0.000%	05/06/2019	0.2%
AT&T, Inc.	3.733%	06/30/2020	0.2%
Santander Drive Auto Receivables Trust 2016-1	5.020%	06/15/2023	0.2%
Canadian Imperial Bank of Commerce	3.105%	10/05/2020	0.2%
Volkswagen Group of America Finance LLC	3.388%	11/13/2020	0.2%
Ryder System, Inc.	0.000%	05/24/2019	0.2%
Martin Marietta Materials, Inc.	3.292%	12/20/2019	0.2%
Santander Drive Auto Receivables Trust 2015-4	3.530%	08/16/2021	0.2%
Newell Rubbermaid, Inc.	0.000%	05/09/2019	0.2%
Campbell Soup Co.	0.000%	07/22/2019	0.2%
First Investors Auto Owner Trust 2019-1	2.890%	03/15/2024	0.2%
FMC Technologies, Inc.	0.000%	07/15/2019	0.2%
Citigroup, Inc.	3.696%	06/07/2019	0.2%
CVS Caremark Corp.	3.397%	03/09/2020	0.2%
Boston Scientific Corp.	0.000%	05/01/2019	0.2%
Discover Card Execution Note Trust	1.390%	03/15/2022	0.2%
Goldman Sachs Group, Inc.	3.792%	10/23/2019	0.2%
Master Credit Card Trust	2.967%	07/21/2022	0.2%
Citibank, Inc.	3.056%	05/01/2020	0.2%
UBS AG London	3.218%	12/01/2020	0.2%
Daimler Finance North America LLC	3.425%	01/06/2020	0.2%
Zimmer Biomet Holdings, Inc.	3.554%	03/19/2021	0.2%
Toronto-Dominion Bank	3.051%	06/11/2020	0.2%
FMC Corp.	0.000%	05/10/2019	0.2%
American Honda Finance Corp.	3.048%	06/16/2020	0.2%
Daimler Finance North America LLC	2.972%	05/04/2020	0.2%
Toronto-Dominion Bank	3.708%	12/14/2020	0.2%
Wells Fargo & Co.	3.627%	02/11/2022	0.2%
Navistar Financial Dealer Note Master Owner Trust	3.107%	09/25/2023	0.2%
KeyBank NA	3.396%	02/01/2022	0.2%
Constellation Brands, Inc.	3.209%	11/15/2021	0.2%
Wells Fargo Bank, N.A.	3.102%	10/22/2021	0.2%
Credit Agricole Corporate & Investment Bank SA	3.433%	10/03/2021	0.2%
AIG Global Funding	3.402%	01/22/2021	0.2%
First National Master Note Trust 2018-1	2.933%	10/15/2024	0.2%
ConAgra Brands, Inc.	3.342%	10/22/2020	0.2%
Campbell Soup Co.	0.000%	05/08/2019	0.2%
Intesa Sanpaolo SpA	3.403%	07/17/2019	0.2%
Ford Motor Credit Co. LLC	3.677%	10/12/2021	0.2%
FMC Corp.	0.000%	05/02/2019	0.2%
Nissan Motor Acceptance Corp.	3.308%	03/15/2021	0.2%
Cabela's Credit Card Master Note Trust	2.923%	07/15/2022	0.2%
Royal Caribbean Cruises Ltd.	0.000%	05/17/2019	0.2%
Branch Banking & Trust Co.	3.358%	06/15/2020	0.2%
Chesapeake Funding II LLC	2.120%	11/15/2029	0.2%
Bank of Nova Scotia	3.187%	07/14/2020	0.2%
World Financial Network Credit Card Master Trust	2.150%	04/17/2023	0.2%
Synchrony Credit Card Master Note Trust	2.370%	03/15/2023	0.2%
Synchrony Credit Card Master Note Trust	2.640%	03/15/2023	0.2%
Huntington National Bank	3.277%	03/10/2020	0.2%
CPS Auto Receivables Trust 2019-A	3.180%	06/15/2022	0.2%
BMW US Capital LLC	3.063%	08/14/2020	0.2%
Vulcan Materials Co.	3.276%	03/01/2021	0.2%
BMW Vehicle Lease Trust 2019-1	2.790%	03/22/2021	0.2%
AutoNation, Inc.	0.000%	05/07/2019	0.2%
Canadian Imperial Bank of Commerce/New York NY	3.202%	09/20/2019	0.2%
Humana, Inc.	0.000%	05/14/2019	0.2%
Arrow Electronics, Inc.	0.000%	05/28/2019	0.2%
GM Financial Automobile Leasing Trust 2019-2	2.670%	06/21/2021	0.2%
Manufacturers & Traders Trust Co	3.711%	12/28/2020	0.2%
Pentair Finance SA	0.000%	05/01/2019	0.2%
Americredit Automobile Receivables Trust 2019-1	2.740%	06/20/2022	0.2%
John Deere Capital Corp.	2.975%	01/07/2020	0.2%
Arrow Electronics, Inc.	0.000%	05/21/2019	0.2%
Citibank, Inc.	3.342%	07/23/2021	0.2%
Wells Fargo & Co.	4.076%	03/04/2021	0.2%
New York Life Global Funding	2.912%	08/06/2021	0.2%
ABN Amro Bank NV	3.261%	08/27/2021	0.2%
Bank of Nova Scotia	3.032%	04/20/2021	0.2%
Arrow Electronics, Inc.	0.000%	05/09/2019	0.2%
Capital Auto Receivables Asset Trust 2018-2	3.020%	02/22/2021	0.2%
Pentair Finance SA	0.000%	05/03/2019	0.2%
WGL Holdings, Inc.	3.326%	03/12/2020	0.2%
Tyco Electronics Group S.A.	3.201%	06/05/2020	0.2%
Marsh & McLennan Cos., Inc.	3.908%	12/29/2021	0.2%
Citizens Bank N.A.	3.413%	02/14/2022	0.2%
General Motors Financial Co., Inc.	0.000%	05/10/2019	0.2%
WGL Holdings, Inc.	3.029%	11/29/2019	0.2%
CRH America Finance, Inc.	0.000%	06/03/2019	0.2%
GMF Floorplan Owner Revolving Trust	2.773%	03/15/2022	0.2%
Pentair Finance SA	0.000%	05/02/2019	0.2%
Eni Finance USA, Inc.	0.000%	05/28/2019	0.2%
Navient Private Education Refi Loan Trust 2019-A	3.030%	01/15/2043	0.2%
Capital Auto Receivables Asset Trust 2018-1	2.790%	01/20/2022	0.2%
Cigna Corp	0.000%	07/16/2019	0.2%
Pentair Finance SA	0.000%	05/10/2019	0.2%
Flagship Credit Auto Trust 2018-3	3.070%	02/15/2023	0.2%
PFS Financing Corp.	2.873%	02/15/2022	0.2%
Americredit Automobile Receivables Trust 2019-1	2.930%	06/20/2022	0.2%
Dell Equipment Finance Trust 2018-1	2.970%	10/22/2020	0.2%
Citigroup, Inc.	4.183%	03/30/2021	0.2%
Standard Chartered plc	3.770%	08/19/2019	0.2%
Synchrony Credit Card Master Note Trust	2.380%	09/15/2023	0.2%
Fifth Third Bank, OH	3.205%	07/26/2021	0.2%
Campbell Soup Co.	0.000%	05/13/2019	0.2%
Drive Auto Receivables Trust	3.040%	11/15/2021	0.2%
Enel Finance America LLC	0.000%	05/06/2019	0.2%
Campbell Soup Co.	0.000%	05/20/2019	0.2%
Compass Bank	3.501%	06/11/2021	0.2%
Commonwealth Bank of Australia	3.051%	03/10/2020	0.2%
JPMorgan Chase Bank NA	3.105%	04/26/2021	0.2%
SCF Equipment Leasing 2019-1 LLC	3.040%	03/20/2023	0.1%
Sumitomo Mitsui Banking Corp	3.090%	10/18/2019	0.1%
Goldman Sachs Group, Inc.	3.552%	12/27/2020	0.1%
Santander Drive Auto Receivables Trust 2018-2	3.030%	09/15/2022	0.1%
Protective Life Global Funding	3.333%	06/28/2021	0.1%
Glencore Funding LLC	0.000%	05/02/2019	0.1%
US Bank NA	2.936%	05/21/2021	0.1%
World Omni Select Auto Trust 2018-1	3.240%	04/15/2022	0.1%
BMW US Capital LLC	3.118%	08/13/2021	0.1%
CRH America Finance, Inc.	0.000%	07/15/2019	0.1%
Foursight Capital Automobile Receivables Trust 201	3.320%	04/15/2022	0.1%
American Express Co.	3.192%	11/05/2021	0.1%
TD Ameritrade Holding Corp.	3.166%	11/01/2021	0.1%
Westlake Automobile Receivables Trust 2018-3	3.320%	10/16/2023	0.1%
Toyota Motor Credit Corp.	3.344%	01/08/2021	0.1%
Royal Bank of Canada	3.052%	04/29/2022	0.1%
General Motors Financial Co., Inc.	0.000%	06/03/2019	0.1%
Enbridge US Inc	0.000%	05/13/2019	0.1%
Entergy Corp.	0.000%	06/06/2019	0.1%
Eni Finance USA, Inc.	0.000%	06/04/2019	0.1%
Newell Rubbermaid, Inc.	0.000%	05/03/2019	0.1%
DLL 2018-1 LLC	3.100%	04/18/2022	0.1%
Crown Castle International Corp.	0.000%	05/15/2019	0.1%
Golden Credit Card Trust	1.980%	04/15/2022	0.1%
Enable Midstream Partners L.P.	0.000%	06/05/2019	0.1%
Westlake Automobile Receivables Trust 2016-3	3.580%	01/18/2022	0.1%
Walgreen Co.	0.000%	06/21/2019	0.1%
NextGear Floorplan Master Owner Trust	2.190%	09/15/2021	0.1%
Crown Castle International Corp.	0.000%	05/14/2019	0.1%
DLL Securitization Trust 2017-A	2.140%	12/15/2021	0.1%
Humana, Inc.	0.000%	05/16/2019	0.1%
General Motors Financial Co., Inc.	0.000%	05/30/2019	0.1%
Enable Midstream Partners L.P.	0.000%	05/16/2019	0.1%
UBS AG London	3.347%	06/08/2020	0.1%
Constellation Brands, Inc.	0.000%	05/17/2019	0.1%
GMF Floorplan Owner Revolving Trust	2.580%	01/18/2022	0.1%
Bank of Montreal	3.021%	09/11/2019	0.1%
Constellation Brands, Inc.	0.000%	05/16/2019	0.1%
Daimler Finance North America LLC	3.371%	10/30/2019	0.1%
GE Capital Credit Card Master Note Trust	1.760%	09/15/2022	0.1%
Royal Caribbean Cruises Ltd.	0.000%	06/07/2019	0.1%
Westpac Banking Corp.	3.328%	05/13/2019	0.1%
Marlette Funding Trust 2018-3	3.200%	09/15/2028	0.1%
AmeriCredit Automobile Receivables 2015-4	3.720%	12/08/2021	0.1%
Ford Credit Floorplan Master Owner Trust A	3.093%	07/15/2021	0.1%
JPMorgan Chase & Co.	3.727%	01/23/2020	0.1%
DLL 2018-1 LLC	2.810%	11/17/2020	0.1%
Ally Master Owner Trust	2.813%	06/15/2021	0.1%
Royal Caribbean Cruises Ltd.	0.000%	05/01/2019	0.1%
Mercedes-Benz Master Owner Trust 2018-BA	2.813%	05/15/2023	0.1%
Martin Marietta Materials, Inc.	3.327%	05/22/2020	0.1%
Eni Finance USA, Inc.	0.000%	05/07/2019	0.1%
FMC Corp.	0.000%	05/22/2019	0.1%
Lloyds Bank plc	3.079%	05/07/2021	0.1%
Svenska Handelsbanken/New York NY	3.031%	10/21/2019	0.1%
Drive Auto Receivables Trust 2018-5	3.080%	07/15/2021	0.1%
Harley-Davidson Financial Services Inc	3.146%	05/21/2020	0.1%
Santander Drive Auto Receivables Trust 2015-5	3.650%	12/15/2021	0.1%
Cabela's Credit Card Master Note Trust	1.780%	06/15/2022	0.1%
Ford Credit Auto Owner Trust 2015-REV1	2.120%	07/15/2026	0.1%
Federation des Caisses Desjardins du Quebec	3.081%	10/30/2020	0.1%
Capital One Multi-Asset Execution Trust	1.330%	06/15/2022	0.1%
Mitsubishi UFJ Financial Grp, Inc.	3.415%	07/26/2021	0.1%
Ford Credit Floorplan Master Owner Trust A	2.390%	08/15/2022	0.1%
E.I. du Pont de Nemours & Co.	2.200%	05/01/2020	0.1%
Gracechurch Card Funding PLC	2.873%	07/15/2022	0.1%
DowDuPont Inc	3.394%	11/15/2020	0.1%
Arrow Electronics, Inc.	0.000%	05/02/2019	0.1%
American Express Credit Account Master Trust	1.770%	11/15/2022	0.1%
Boston Scientific Corp.	0.000%	05/13/2019	0.1%
General Motors Financial Co., Inc.	0.000%	05/20/2019	0.1%
General Motors Financial Co., Inc.	4.051%	05/09/2019	0.1%
New York Life Global Funding	3.016%	01/28/2021	0.1%
WGL Holdings, Inc.	0.000%	05/01/2019	0.1%
WGL Holdings, Inc.	0.000%	05/03/2019	0.1%
Sherwin-Williams Co.	0.000%	05/28/2019	0.1%
Westlake Automobile Receivables Trust 2018-3	2.980%	01/18/2022	0.1%
Royal Caribbean Cruises Ltd.	0.000%	06/04/2019	0.1%
Flagship Credit Auto Trust 2018-2	2.970%	10/17/2022	0.1%
General Motors Financial Co., Inc.	4.064%	10/04/2019	0.1%
Marlette Funding Trust 2018-4	3.710%	12/15/2028	0.1%
Royal Caribbean Cruises Ltd.	0.000%	05/06/2019	0.1%
Constellation Brands, Inc.	0.000%	05/08/2019	0.1%
Pentair Finance SA	0.000%	05/09/2019	0.1%
World Financial Network Credit Card Master Trust	3.070%	12/16/2024	0.1%
Drive Auto Receivables Trust	4.180%	03/15/2024	0.1%
Americredit Automobile Receivables Trust 2018-3	3.110%	01/18/2022	0.1%
Americredit Automobile Receivables Trust 2018-3	2.730%	01/18/2022	0.1%
FREED ABS TRUST 2018-2	3.990%	10/20/2025	0.1%
Constellation Brands, Inc.	0.000%	05/01/2019	0.1%
American Express Credit Account Master Trust	2.923%	09/16/2024	0.1%
Conn's Receivables Funding 2018-A LLC	3.250%	01/15/2023	0.1%
Pentair Finance SA	0.000%	05/08/2019	0.1%
Manufacturers & Traders Trust Co	3.041%	01/25/2021	0.1%
Branch Banking & Trust Co.	3.237%	01/15/2020	0.1%
Barclays Dryrock Issuance Trust	2.773%	05/15/2023	0.1%
Alimentation Couche-Tard, Inc.	3.279%	12/13/2019	0.1%
Drive Auto Receivables Trust 2018-5	2.793%	07/15/2021	0.1%
Chesapeake Funding II LLC	2.813%	08/15/2029	0.1%
GM Financial Automobile Leasing Trust 2019-2	2.670%	03/21/2022	0.1%
Ford Motor Credit Co. LLC	3.448%	08/12/2019	0.1%
Toronto-Dominion Bank	3.011%	01/25/2021	0.1%
Chase Issuance Trust	1.270%	07/15/2021	0.1%
Synchrony Credit Card Master Note Trust	3.360%	03/15/2024	0.1%
Entergy Corp.	0.000%	05/02/2019	0.1%
UBS AG	3.254%	08/14/2019	0.1%
First Investors Auto Owner Trust 2018-2	3.230%	12/15/2022	0.1%
Morgan Stanley	3.905%	01/27/2020	0.1%
Springleaf Funding Trust 2016-A	2.900%	11/15/2029	0.1%
Textron, Inc.	3.168%	11/10/2020	0.1%
Citibank, Inc.	3.061%	09/18/2019	0.1%
Campbell Soup Co.	3.288%	03/16/2020	0.1%
Skandinaviska Enskilda Banken AB	3.349%	09/13/2019	0.1%
Marriott International, Inc.	0.000%	06/03/2019	0.1%
Westpac Banking Corp.	2.896%	05/15/2020	0.1%
Boston Scientific Corp.	0.000%	07/22/2019	0.1%
BAT International Finance plc	0.000%	07/30/2019	0.1%
Ford Motor Credit Co. LLC	3.605%	04/05/2021	0.1%
Discover Card Execution Note Trust	1.900%	10/17/2022	0.1%
General Electric Co.	3.223%	03/28/2020	0.1%
Citigroup, Inc.	4.075%	10/26/2020	0.1%
Daimler Finance North America LLC	3.112%	05/05/2020	0.1%
Siemens Financial Services, Inc.	3.128%	03/16/2020	0.1%
Danske Bank A/S	3.248%	03/02/2020	0.1%
SL Green Operating Partnership L.P.	3.609%	08/16/2021	0.1%
Santander UK plc	3.246%	06/01/2021	0.1%
GMF Floorplan Owner Revolving Trust	1.960%	05/17/2021	0.1%
NextGear Floorplan Master Owner Trust	3.073%	10/15/2023	0.1%
WGL Holdings, Inc.	0.000%	05/06/2019	0.1%
Capital Auto Receivables Asset Trust 2018-1	2.930%	06/20/2022	0.1%
Deutsche Telekom International Finance	3.254%	09/19/2019	0.1%
Bank of Montreal	3.376%	12/12/2019	0.1%
Santander Drive Auto Receivables Trust 2016-2	4.380%	09/15/2023	0.1%
Capital One Multi-Asset Execution Trust	2.983%	09/16/2024	0.1%
Morgan Stanley	3.768%	06/16/2020	0.1%
Chase Issuance Trust	1.580%	08/15/2021	0.1%
SunTrust Banks, Inc.	3.265%	10/26/2021	0.1%
NextGear Floorplan Master Owner Trust	2.540%	04/18/2022	0.1%
PFS Financing Corp.	2.400%	10/17/2022	0.1%
Vulcan Materials Co.	3.388%	06/15/2020	0.1%
Newell Rubbermaid, Inc.	0.000%	05/07/2019	0.1%
SMB Private Education Loan Trust 2018-B	2.793%	12/16/2024	0.1%
Chase Issuance Trust	2.673%	04/17/2023	0.1%
Santander Drive Auto Receivables Trust 2018-5	3.520%	12/15/2022	0.1%
Nissan Motor Acceptance Corp.	3.299%	09/13/2019	0.1%
General Electric Co.	3.587%	04/15/2020	0.1%
Citizens Bank N.A.	3.278%	03/02/2020	0.1%
Sofi Professional Loan Program 2018-B Trust	2.640%	08/25/2047	0.1%
Enterprise Fleet Financing LLC	2.870%	10/20/2023	0.1%
Westlake Automobile Receivables Trust 2016-3	2.460%	01/18/2022	0.1%
Capital Auto Receivables Asset Trust 2018-2	3.270%	06/20/2023	0.1%
Danske Bank A/S	3.319%	09/06/2019	0.1%
AIG Global Funding	3.080%	07/02/2020	0.1%
Engs Commercial Finance Trust 2018-1	2.970%	02/22/2021	0.1%
Sempra Energy	3.097%	01/15/2021	0.1%
Santander Drive Auto Receivables Trust 2016-3	2.800%	08/15/2022	0.1%
Australia & New Zealand Banking Group Ltd.	3.100%	05/17/2021	0.1%
California Republic Auto Receivables Trust 2017-1	2.280%	06/15/2022	0.1%
WGL Holdings, Inc.	0.000%	06/05/2019	0.1%
Mondelez International Holdings Netherlands BV	3.375%	10/28/2019	0.1%
American Credit Acceptance Receivables Trust 2019-	3.320%	04/12/2023	0.1%
Dominion Gas Holdings LLC	3.211%	06/15/2021	0.1%
CPS Auto Trust	3.310%	12/15/2022	0.1%
CRH America Finance, Inc.	0.000%	07/10/2019	0.1%
Ford Credit Floorplan Master Owner Trust A	1.980%	01/15/2022	0.1%
Wabtec Corp.	3.911%	09/15/2021	0.1%
Exeter Automobile Receivables Trust 2017-3	2.050%	12/15/2021	0.1%
AXIS Equipment Finance Receivables VI LLC	3.890%	07/20/2022	0.1%
Constellation Brands, Inc.	0.000%	05/22/2019	0.1%
Daimler Finance North America LLC	3.048%	02/12/2021	0.1%
Citibank, Inc.	2.892%	10/20/2020	0.1%
Drive Auto Receivables Trust	5.150%	08/15/2022	0.1%
Drive Auto Receivables Trust	3.010%	11/15/2021	0.1%
California Republic Auto Receivables Trust 2018-1	2.860%	03/15/2021	0.1%
Capital One Financial Corp.	3.458%	05/12/2020	0.1%
Drive Auto Receivables Trust	3.360%	10/17/2022	0.1%
Drive Auto Receivables Trust	3.720%	10/17/2022	0.1%
Honda Auto Receivables 2017-3 Owner Trust	1.790%	09/20/2021	0.1%
Santander UK plc	2.882%	11/03/2020	0.1%
Australia & New Zealand Banking Group Ltd.	3.054%	12/19/2019	0.1%
Branch Banking & Trust Co.	2.958%	06/01/2020	0.1%
Barclays Bank plc	3.535%	10/28/2019	0.1%
ConAgra Brands, Inc.	3.297%	10/09/2020	0.1%
John Deere Capital Corp.	2.915%	07/05/2019	0.1%
Assurant, Inc.	4.072%	03/26/2021	0.1%
Australia & New Zealand Banking Group Ltd.	3.140%	08/19/2020	0.1%
General Dynamics Corp.	2.908%	05/11/2020	0.1%
Drive Auto Receivables Trust	4.530%	08/15/2023	0.1%
American Credit Acceptance Receivables Trust 2018-	2.940%	01/10/2022	0.1%
ABN Amro Bank NV	3.171%	01/19/2021	0.1%
QUALCOMM, Inc.	3.194%	05/20/2020	0.1%
ACC Trust 2019-1	3.750%	05/20/2022	0.1%
American Express Credit Account Master Trust	2.670%	10/17/2022	0.1%
Lloyds Banking Group plc	3.590%	06/21/2021	0.1%
Foursight Capital Automobile Receivables Trust 201	2.850%	08/16/2021	0.1%
Aviation Capital Group Corp.	3.421%	07/30/2021	0.1%
American Express Credit Corp.	3.828%	09/14/2020	0.1%
Newell Rubbermaid, Inc.	0.000%	05/02/2019	0.1%
Australia & New Zealand Banking Group Ltd.	2.921%	11/09/2020	0.1%
Bayer US Finance II LLC	3.232%	06/25/2021	0.1%
General Motors Financial Co., Inc.	4.347%	01/14/2022	0.1%
Wells Fargo Bank, N.A.	3.389%	12/06/2019	0.1%
Bunge Asset Funding Corp	0.000%	06/05/2019	0.1%
Pentair Finance SA	0.000%	05/06/2019	0.1%
CRH America Finance, Inc.	0.000%	07/01/2019	0.1%
Pentair Finance SA	0.000%	05/13/2019	0.1%
SCF Equipment Leasing 2018-1 LLC	3.630%	10/20/2024	0.1%
Ford Motor Credit Co. LLC	0.000%	11/25/2019	0.1%
Westpac Banking Corp.	3.169%	03/06/2020	0.1%
Master Credit Card Trust II	3.400%	01/21/2022	0.1%
Bell Canada, Inc.	0.000%	06/03/2019	0.1%
Sumitomo Mitsui Trust Bank Ltd	3.244%	09/19/2019	0.1%
World Financial Network Credit Card Master Trust	1.980%	08/15/2023	0.1%
CRH America Finance, Inc.	0.000%	07/26/2019	0.1%
BA Credit Card Trust	1.950%	08/15/2022	0.1%
AmeriCredit Automobile Receivables Trust 2017-4	2.040%	07/18/2022	0.1%
Drive Auto Receivables Trust	3.720%	09/16/2024	0.1%
Branch Banking & Trust Co.	3.502%	01/15/2020	0.1%
Citibank Credit Card Issuance Trust	1.800%	09/20/2021	0.1%
Humana, Inc.	0.000%	05/28/2019	0.1%
Barclays Dryrock Issuance Trust	2.803%	07/15/2024	0.1%
BMW US Capital LLC	3.207%	04/12/2021	0.1%
FREED ABS TRUST 2018-1	3.610%	07/18/2024	0.1%
Sofi Professional Loan Program 2018-A LLC	2.390%	02/25/2042	0.1%
Phillips 66	3.289%	02/26/2021	0.1%
American Express Credit Corp.	3.106%	08/15/2019	0.1%
CRH America Finance, Inc.	0.000%	05/20/2019	0.0%
ING Bank NV	3.226%	08/15/2019	0.0%
National Australia Bank Ltd.	3.457%	12/09/2019	0.0%
CPS Auto Receivables Trust 2016-C	3.270%	06/15/2022	0.0%
Tyson Foods, Inc.	3.157%	05/30/2019	0.0%
General Motors Financial Co., Inc.	3.727%	04/13/2020	0.0%
Becton, Dickinson & Co.	3.678%	12/29/2020	0.0%
General Motors Financial Co., Inc.	4.347%	01/15/2020	0.0%
Standard Chartered plc	3.770%	08/19/2019	0.0%
Ascentium Equipment Receivables 2017-1 Trust	2.290%	06/10/2021	0.0%
Gilead Sciences, Inc.	3.042%	09/20/2019	0.0%
Nissan Motor Acceptance Corp.	3.203%	09/28/2020	0.0%
Capital One NA/Mclean VA	3.544%	09/13/2019	0.0%
PFS Financing Corp.	1.870%	10/15/2021	0.0%
World Financial Network Credit Card Master Trust	3.340%	04/17/2023	0.0%
Commonwealth Bank of Australia	3.201%	09/18/2020	0.0%
Kraft Heinz Foods Co.	3.021%	08/09/2019	0.0%
Metropolitan Life Global Funding I	3.024%	09/19/2019	0.0%
Enbridge US Inc	0.000%	05/06/2019	0.0%
Barclays Dryrock Issuance Trust	2.410%	07/15/2022	0.0%
Nordea Bank Abp	3.423%	09/30/2019	0.0%
Manufacturers & Traders Trust Co	3.376%	12/01/2021	0.0%
Boston Scientific Corp.	0.000%	05/24/2019	0.0%
CPS Auto Trust	2.870%	09/15/2021	0.0%
Wheels SPV 2 LLC	3.060%	04/20/2027	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	2.710%	09/08/2022	0.0%
Harris Corp.	3.231%	04/30/2020	0.0%
Nissan Motor Acceptance Corp.	3.377%	01/13/2020	0.0%
CarMax Auto Owner Trust	3.110%	08/15/2022	0.0%
MMAF Equipment Finance LLC 2014-A	1.590%	02/08/2022	0.0%
Capital Auto Receivables Asset Trust 2017-1	2.020%	08/20/2021	0.0%
Drive Auto Receivables Trust 2017-2	2.750%	09/15/2023	0.0%
CPS Auto Receivables Trust 2014-C	4.830%	08/17/2020	0.0%
PFS Financing Corp.	3.073%	02/15/2022	0.0%
Chesapeake Funding II LLC	2.813%	11/15/2029	0.0%
CPS Auto Receivables Trust 2018-B	2.720%	09/15/2021	0.0%
International Lease Finance Corp.	6.250%	05/15/2019	0.0%
Chrysler Capital Auto Receivables Trust	3.150%	01/18/2022	0.0%
Capital Auto Receivables Asset Trust 2018-2	3.480%	10/20/2023	0.0%
Noble Energy, Inc.	0.000%	05/06/2019	0.0%
CPS Auto Receivables Trust 2016-C	5.920%	06/15/2022	0.0%
Drive Auto Receivables Trust 2017-1	2.840%	04/15/2022	0.0%
Foursight Capital Automobile Receivables Trust 201	3.240%	09/15/2022	0.0%
Westlake Automobile Receivables Trust 2018-2	3.500%	01/16/2024	0.0%
Lloyds Bank plc	5.800%	01/13/2020	0.0%
Ford Motor Credit Co. LLC	2.989%	11/02/2020	0.0%
Santander Drive Auto Receivables Trust 2018-3	2.780%	03/15/2021	0.0%
Exeter Automobile Receivables Trust 2015-1	5.830%	12/15/2021	0.0%
Bank of Montreal	3.228%	06/15/2020	0.0%
Shire Acquisitions Investments Ireland Designated	1.900%	09/23/2019	0.0%
Flagship Credit Auto Trust 2016-3	2.430%	06/15/2021	0.0%
Verizon Owner Trust 2017-1	2.450%	09/20/2021	0.0%
BAT Capital Corp	3.204%	08/14/2020	0.0%
OneMain Financial Issuance Trust 2016-1A	3.660%	02/20/2029	0.0%
World Financial Network Credit Card Master Trust	2.550%	06/17/2024	0.0%
General Motors Co.	3.389%	08/07/2020	0.0%
Drive Auto Receivables Trust 2018-2	2.880%	06/15/2021	0.0%
Toyota Auto Receivables 2016-D Owner Trust	1.230%	10/15/2020	0.0%
Drive Auto Receivables Trust	3.340%	09/15/2022	0.0%
Santander Drive Auto Receivables Trust 2016-3	2.460%	03/15/2022	0.0%
Boston Scientific Corp.	0.000%	05/06/2019	0.0%
Pentair Finance SA	0.000%	05/07/2019	0.0%
Arrow Electronics, Inc.	0.000%	05/08/2019	0.0%
UBS Group Funding Switzerland AG	4.042%	09/24/2020	0.0%
Drive Auto Receivables Trust	3.660%	11/15/2024	0.0%
American Express Co.	3.081%	10/30/2020	0.0%
Barclays Dryrock Issuance Trust 2016-1	1.520%	05/16/2022	0.0%
Pentair Finance SA	0.000%	05/17/2019	0.0%
TCF Auto Receivables Owner Trust 2015-2	2.550%	04/15/2021	0.0%
AmeriCredit Automobile Receivables Trust 2015-3	2.730%	03/08/2021	0.0%
SOFI PROFESSIONAL LOAN PROGRAM 2017-F LLC	2.050%	01/25/2041	0.0%
World Financial Network Credit Card Master Trust	3.090%	04/17/2023	0.0%
American Credit Acceptance Receivables Trust 2016-	4.260%	08/12/2022	0.0%
OSCAR US Funding Trust VII LLC	3.131%	11/10/2020	0.0%
Canadian Imperial Bank of Commerce	3.259%	09/06/2019	0.0%
Flagship Credit Auto Trust 2016-1	3.910%	06/15/2022	0.0%
Morgan Stanley	4.161%	04/21/2021	0.0%
Capital Auto Receivables Asset Trust	2.670%	08/20/2020	0.0%
AT&T, Inc.	3.437%	01/15/2020	0.0%
CarFinance Capital Auto Trust	3.580%	06/15/2021	0.0%
American Credit Acceptance Receivables Trust 2018-	3.550%	04/10/2024	0.0%
Exeter Automobile Receivables Trust 2016-3	4.220%	06/15/2022	0.0%
CPS Auto Trust	3.430%	07/15/2022	0.0%
Drive Auto Receivables Trust	2.980%	01/18/2022	0.0%
Pentair Finance SA	2.650%	12/01/2019	0.0%
National Australia Bank Ltd.	3.373%	01/10/2020	0.0%
Westlake Automobile Receivables Trust 2016-2	4.100%	06/15/2021	0.0%
First National Master Note Trust 2017-2	2.913%	10/16/2023	0.0%
PNC Bank NA	2.842%	01/22/2021	0.0%
Wells Fargo Bank, N.A.	3.289%	05/24/2019	0.0%
Credit Acceptance Auto Loan Trust 2016-3	2.150%	04/15/2024	0.0%
Chesapeake Funding II LLC	2.110%	03/15/2028	0.0%
Australia & New Zealand Banking Group Ltd.	3.484%	09/23/2019	0.0%
HSBC USA, Inc.	3.228%	11/13/2019	0.0%
Daimler Finance North America LLC	3.288%	05/04/2021	0.0%
Citibank, Inc.	3.276%	06/12/2020	0.0%
Chesapeake Funding II LLC	1.990%	05/15/2029	0.0%
Ascentium Equipment Receivables 2017-2 Trust	2.000%	05/11/2020	0.0%
Danske Bank A/S	3.125%	03/02/2020	0.0%
Ford Credit Auto Owner Trust/Ford Credit 2014-REV1	2.260%	11/15/2025	0.0%
CPS Auto Receivables Trust 2017-D	2.430%	01/18/2022	0.0%
Marriott International, Inc.	0.000%	05/31/2019	0.0%
Westgate Resorts 2018-1 LLC	3.380%	12/20/2031	0.0%
Royal Bank of Canada	3.005%	10/26/2020	0.0%
Flagship Credit Auto Trust	3.050%	08/16/2021	0.0%
Drive Auto Receivables Trust	3.190%	07/15/2022	0.0%
Westlake Automobile Receivables Trust 2018-1	2.920%	05/15/2023	0.0%
Enbridge US Inc	0.000%	07/15/2019	0.0%
CarMax Auto Owner Trust	1.400%	08/15/2021	0.0%
California Republic Auto Receivables Trust 2015-4	2.580%	06/15/2021	0.0%
Chesapeake Funding II LLC	1.880%	06/15/2028	0.0%
Nissan Auto Receivables 2017-C Owner Trust	2.120%	04/18/2022	0.0%
Phillips 66	3.537%	04/15/2020	0.0%
Capital Auto Receivables Asset Trust	3.340%	03/22/2021	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	2.240%	04/08/2022	0.0%
Drive Auto Receivables Trust	2.780%	10/15/2020	0.0%
BMW US Capital LLC	3.175%	04/06/2020	0.0%
Wells Fargo Bank, N.A.	3.097%	01/15/2021	0.0%
Daimler Finance North America LLC	3.113%	02/22/2021	0.0%
Fifth Third Bank, OH	3.412%	09/27/2019	0.0%
AmeriCredit Automobile Receivables 2015-1	2.510%	01/08/2021	0.0%
Citizens Bank N.A.	3.259%	05/26/2020	0.0%
JPMorgan Chase Bank NA	3.414%	09/23/2019	0.0%
Mercedes-Benz Auto Lease Trust 2018-A	2.200%	04/15/2020	0.0%
ING Bank NV	3.487%	10/01/2019	0.0%
Volkswagen Group of America Finance LLC	3.638%	11/12/2021	0.0%
Access Point Funding I 2017-1 LLC	3.060%	04/15/2029	0.0%
Drive Auto Receivables Trust	2.610%	08/16/2021	0.0%
Sofi Consumer Loan Program 2017-5 LLC	2.140%	09/25/2026	0.0%
Drive Auto Receivables Trust 2017-3	2.800%	07/15/2022	0.0%
Svenska Handelsbanken AB	3.229%	09/06/2019	0.0%
CCG Receivables Trust 2018-1	2.500%	06/16/2025	0.0%
Sofi Professional Loan Program 2017-C LLC	1.750%	07/25/2040	0.0%
Americredit Automobile Receivables Trust 2016-4	1.830%	12/08/2021	0.0%
Foursight Capital Automobile Receivables Trust 201	4.120%	09/15/2022	0.0%
Flagship Credit Auto Trust 2017-3	1.880%	10/15/2021	0.0%
ING Bank NV	3.610%	08/17/2020	0.0%
Chesapeake Funding II LLC	2.923%	05/15/2029	0.0%
ACC Trust 2018-1	3.700%	12/21/2020	0.0%
ING Bank NV	3.226%	08/15/2019	0.0%
CPS Auto Receivables Trust 2018-A	2.770%	04/18/2022	0.0%
SoFi Professional Loan Program 2017-E LLC	1.860%	11/26/2040	0.0%
Santander Drive Auto Receivables Trust 2017-2	2.210%	10/15/2021	0.0%
American Credit Acceptance Receivables Trust 2018-	2.720%	03/10/2021	0.0%
Royal Bank of Canada	2.995%	03/02/2020	0.0%
SoFi Consumer Loan Program 2016-2 LLC	3.090%	10/27/2025	0.0%
Avid Automobile Receivables Trust 2018-1	2.840%	08/15/2023	0.0%
Navient Student Loan Trust 2018-1	2.667%	03/25/2067	0.0%
Santander Drive Auto Receivables Trust 2017-3	1.870%	06/15/2021	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	1.800%	10/08/2021	0.0%
Capital Auto Receivables Asset Trust 2015-4	3.620%	05/20/2021	0.0%
Santander Drive Auto Receivables Trust 2016-2	3.390%	04/15/2022	0.0%
DLL Securitization Trust 2017-A	1.890%	07/15/2020	0.0%
Flagship Credit Auto Trust 2017-4	2.070%	04/15/2022	0.0%
Canadian Imperial Bank of Commerce	2.874%	02/02/2021	0.0%
CPS Auto Receivables Trust 2018-B	3.230%	07/15/2022	0.0%
Chesapeake Funding II LLC	1.910%	08/15/2029	0.0%
GreatAmerica Leasing Receivables Funding LLC Serie	2.350%	05/15/2020	0.0%
Drive Auto Receivables Trust	3.020%	11/15/2021	0.0%
Santander Drive Auto Receivables Trust	3.240%	04/15/2021	0.0%
Enterprise Fleet Financing LLC	1.970%	01/20/2023	0.0%
Capital Auto Receivables Asset Trust 2016-2	2.110%	03/22/2021	0.0%
Mississippi Power Co.	3.472%	03/27/2020	0.0%
Morgan Stanley	3.512%	07/23/2019	0.0%
Exeter Automobile Receivables Trust 2017-1	3.950%	12/15/2022	0.0%
CPS Auto Trust	2.680%	05/17/2021	0.0%
Springleaf Funding Trust	3.160%	11/15/2024	0.0%
Master Credit Card Trust II	2.560%	07/21/2021	0.0%
CPS Auto Receivables Trust 2017-C	2.300%	07/15/2021	0.0%
Chrysler Capital Auto Receivables Trust 2016-B	1.640%	07/15/2021	0.0%
Drive Auto Receivables Trust	3.910%	05/17/2021	0.0%
Campbell Soup Co.	0.000%	05/02/2019	0.0%
Enterprise Fleet Financing LLC	2.130%	07/20/2022	0.0%
Santander Drive Auto Receivables Trust 2015-4	2.970%	03/15/2021	0.0%
Chesapeake Funding II LLC	3.473%	06/15/2028	0.0%
Barclays Dryrock Issuance Trust 2017-1	2.803%	03/15/2023	0.0%
OneMain Financial Issuance Trust 2015	3.190%	03/18/2026	0.0%
OneMain Financial Issuance Trust 2016-2	4.100%	03/20/2028	0.0%
First Investors Auto Owner Trust	2.000%	03/15/2022	0.0%
TCF Auto Receivables Owner Trust 2016-PT1	1.930%	06/15/2022	0.0%
Ford Motor Credit Co. LLC	3.512%	11/04/2019	0.0%
First Investors Auto Owner Trust 2017-2	1.860%	10/15/2021	0.0%
CPS Auto Receivables Trust 2017-D	1.870%	03/15/2021	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	1.460%	05/10/2021	0.0%
AmeriCredit Automobile Receivables Trust 2015-2	2.400%	01/08/2021	0.0%
California Republic Auto Receivables Trust 2016-2	1.830%	12/15/2021	0.0%
Flagship Credit Auto Trust 2017-1	1.930%	12/15/2021	0.0%
SoFi Professional Loan Program 2017-D LLC	1.720%	09/25/2040	0.0%
Flagship Credit Auto Trust 2017-2	1.850%	07/15/2021	0.0%
CarMax Auto Owner Trust 2017-3	1.640%	09/15/2020	0.0%
Santander Drive Auto Receivables Trust 2016-3	1.890%	06/15/2021	0.0%
Carmax Auto Owner Trust	1.390%	05/17/2021	0.0%
SunTrust Auto Receivables Trust	1.780%	01/15/2021	0.0%
First Investors Auto Owner Trust 2016-2	1.870%	11/15/2021	0.0%
Mercedes-Benz Master Owner Trust 2016-B	3.173%	05/17/2021	0.0%
Ascentium Equipment Receivables 2016-1 Trust	2.850%	07/10/2020	0.0%
Westlake Automobile Receivables Trust 2016-2	2.830%	05/17/2021	0.0%
CarMax Auto Owner Trust	1.560%	11/16/2020	0.0%
SoFi Professional Loan Program 2017-A LLC	1.550%	03/26/2040	0.0%
Kansas Gas & Electric Co.	6.700%	06/15/2019	0.0%
Exeter Automobile Receivables Trust 2014-3	5.690%	04/15/2021	0.0%
Engs Commercial Finance Trust	2.630%	02/22/2022	0.0%
Santander Drive Auto Receivables Trust 2015-5	2.740%	12/15/2021	0.0%
Nissan Auto Receivables 2016-B Owner Trust	1.320%	01/15/2021	0.0%
AmeriCredit Automobile Receivables Trust 2017-3	1.690%	12/18/2020	0.0%
Westlake Automobile Receivables Trust 2017-2	1.800%	07/15/2020	0.0%
Dell Equipment Finance Trust	2.140%	04/22/2022	0.0%
California Republic Auto Receivables Trust	1.820%	09/15/2020	0.0%
California Republic Auto Receivables Trust	1.750%	01/15/2021	0.0%
Diamond Resorts Owner Trust	2.990%	05/22/2028	0.0%
Amgen, Inc.	3.263%	05/22/2019	0.0%
Bank of Montreal	3.430%	07/18/2019	0.0%
Westlake Automobile Receivables Trust 2017-1	2.300%	10/17/2022	0.0%
First Investors Auto Owner Trust	2.750%	09/15/2021	0.0%
Flagship Credit Auto Trust 2016-1	2.770%	12/15/2020	0.0%

Dividends & Cap Gains

DIVIDEND PAYMENTS

For

YTD Dividends Paidas of 06/17/2019: $0.115
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
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	06/30/2019
Daily	Daily	07/31/2019
Daily	Daily	08/31/2019
Daily	Daily	09/30/2019
Daily	Daily	10/31/2019
Daily	Daily	11/30/2019
Daily	Daily	12/31/2019

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
12/17/2019	12/18/2019

Fees & Expenses

EXPENSE RATIOas of 05/31/2019

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.

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

IMPORTANT INFORMATION

There is no up-front commission on purchases of the Lord Abbett Ultra Short Bond Fund, but a contingent deferred sales charge (CDSC) will be charged on shares exchanged from a Lord Abbett–sponsored fund that are subject to a CDSC and that are subsequently redeemed. Lord Abbett Ultra Short Bond Fund has a 12b-1 trail commission of 0.15% that accrues immediately.

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.

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 06/17/2019

30-Day Standardized Yield 2 as of 05/31/2019

Fund Basicsas of 05/31/2019

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 05/31/2019 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 05/31/2019

Portfolio Positioning as of 03/31/2019

Portfolio Details as of 05/31/2019

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

Upcoming Dividend Payment Dates

CAPITAL GAINS DISTRIBUTIONS

7 Day Yield ^1,4 as of 06/17/2019

30-Day Standardized Yield ² as of 05/31/2019