Ultra Short Bond Fund

LUBWX

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Daily price w/o sales charge as of 05/29/2020

$10.00

$0.00

YTD Returns w/o sales charge as of 05/29/2020

0.46%

Overall Morningstar Ratings

Ultrashort Bond

as of 04/30/2020

Morningstar rated the Lord Abbett Ultra Short Bond Fund class R6 share 4 stars among 164 Ultrashort Bond Funds for the overall rating and the 3 year periods ended 4/30/2020, 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 05/29/2020

w/o sales charge

1.30%

30-Day Standardized Yield ² as of 04/30/2020

2.20%

Fund Basicsas of 04/30/2020

Total Net Assets: $18.22 B
Inception Date: 10/17/2016
Dividend Frequency: Monthly
Fund Expense Ratio: 0.25%
Number of Holdings: 514

Fund Expense Ratio :

0.25%

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

w/o sales charge	-0.05%	1.72%	2.03%	-	-	1.96%
Lipper Category Avg. Ultra-Short Obligations Funds	-0.52%	1.17%	1.61%	-	-	-
ICE BofA U.S. Treasury Bill Index	0.65%	2.18%	1.84%	-	-	1.63%

Fund Expense Ratio :

0.25%

Fund Expense Ratio :

0.25%

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

w/o sales charge	-1.19%	0.89%	1.71%	-	-	1.66%
Lipper Category Avg. Ultra-Short Obligations Funds	-1.74%	0.21%	1.24%	-	-	-
ICE BofA U.S. Treasury Bill Index	0.65%	2.37%	1.86%	-	-	1.66%

Fund Expense Ratio :

0.25%

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Credit Quality Distribution as of 04/30/2020 View Portfolio

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

17 Years of Industry Experience

Andrew H. O'Brien, CFA

Partner & Portfolio Manager

22 Years of Industry Experience

Kewjin Yuoh

Partner & Portfolio Manager

26 Years of Industry Experience

Adam C. Castle, CFA

Managing Director, Portfolio Manager

12 Years of Industry Experience

Supported By 61 Investment Professionals with 16 Years Avg. Industry Experience

Your Representative

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Performance

NAV HISTORICAL PRICES

Date	Net Asset Value

Fund Expense Ratio :

0.25%

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

w/o sales charge	-0.05%	1.72%	2.03%	-	-	1.96%
Lipper Category Avg. Ultra-Short Obligations Funds	-0.52%	1.17%	1.61%	-	-	-
ICE BofA U.S. Treasury Bill Index	0.65%	2.18%	1.84%	-	-	1.63%

Fund Expense Ratio :

0.25%

Fund Expense Ratio :

0.25%

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

w/o sales charge	-1.19%	0.89%	1.71%	-	-	1.66%
Lipper Category Avg. Ultra-Short Obligations Funds	-1.74%	0.21%	1.24%	-	-	-
ICE BofA U.S. Treasury Bill Index	0.65%	2.37%	1.86%	-	-	1.66%

Fund Expense Ratio :

0.25%

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

2019	3.02%	2.35%
2018	2.11%	1.88%
2017	1.66%	0.82%
2016	0.20%	0.37%

Year	Q1	Q2	Q3	Q4	Yearly Returns

2020	-1.19%	-	-	-	0.47%
2019	0.89%	0.89%	0.64%	0.57%	3.02%
2018	0.37%	0.68%	0.61%	0.44%	2.11%
2017	0.41%	0.45%	0.38%	0.41%	1.66%
2016	-	-	-	-	0.20%

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 04/30/2020

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

Portfolio Positioning as of 3/31/2020

Coming into the quarter we had been maintaining a defensive posture within the Fund, focusing on higher-quality opportunities.
While the Fund can hold up to 15% in BBB-rated securities, the portfolio’s BBB-rated allocation was at the lower end of the historical range. Additionally, the portfolio’s overall risk levels, in terms of spread duration, were at the lower end of where they have been, historically.
We are currently monitoring the impact of the Fed’s new programs within the commercial paper market. We have already noticed commercial paper yields have been adjusting down in response to the CPFF (Commercial Paper Funding Facility), with more buyers willing to step in. We also expect that the Money Market Mutual Fund Liquidity Facility and the Primary Dealer Credit Facility will help support liquidity within the commercial paper market.
While there has been a great deal of volatility in rates and spreads, the portfolio remains high-quality, short-term and very liquid. We remain focused on maintaining a high degree of liquidity in the portfolio, which may allow us to take advantage of attractive opportunities as wider spreads present themselves.
We continue to favor ABS that are backed by credit cards and auto loans, and have avoided areas of the market that have been more directly exposed to the impact of the coronavirus (such as containers and aircraft ABS).
We are monitoring the Fed’s actions in response to the dislocation within the short-term markets. We are hopeful that the policies that have been enacted will help ease some of the dislocation at the front end of the yield curve.

Portfolio Details as of 04/30/2020

Total Net Assets: $18.22 B
Number of Issues: 514
Average Coupon: 1.63%
Average Life: 0.89 Years
Average Effective Duration: 0.18 Years

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

Holding	Coupon	Maturity	Assets

United States Treasury Bill	0.000%	07/09/2020	2.0%
Morgan Stanley	2.999%	01/20/2022	1.3%
Wells Fargo & Co.	2.831%	02/11/2022	1.2%
Goldman Sachs Group, Inc.	2.557%	10/31/2022	1.1%
Bunge Asset Funding Corp	0.000%	05/01/2020	1.0%
Bayer Corp	0.000%	08/17/2020	1.0%
Morgan Stanley	2.732%	07/22/2022	1.0%
Alexandria Real Estate Equities, Inc.	0.000%	05/05/2020	0.8%
AT&T, Inc.	0.000%	08/03/2020	0.8%
Walt Disney Co/The	0.000%	08/12/2020	0.8%

% of Total Assets			11.0%

Holding	Coupon	Maturity	Assets

Tyson Foods, Inc.	0.000%	04/01/2020	1.5%
Morgan Stanley	3.146%	01/20/2022	1.3%
Wells Fargo & Co.	2.831%	02/11/2022	1.1%
J.M. Smucker Co.	0.000%	04/01/2020	1.1%
Morgan Stanley	2.732%	07/22/2022	1.0%
American Honda Finance Corp.	0.000%	04/09/2020	0.9%
Eaton Corp	0.000%	04/01/2020	0.9%
BASF SE	0.000%	04/08/2020	0.9%
DuPont de Nemours Inc	0.000%	04/01/2020	0.8%
World Financial Network Credit Card Master Trust	2.310%	08/15/2024	0.8%
Carnival Corp.	0.000%	09/03/2020	0.7%
Goldman Sachs Group, Inc.	2.707%	10/31/2022	0.7%
Volkswagen Group of America Finance LLC	2.675%	11/13/2020	0.7%
Morgan Stanley	1.613%	01/20/2023	0.6%
JPMorgan Chase & Co.	2.509%	06/18/2022	0.6%
American Honda Finance Corp.	0.000%	04/02/2020	0.6%
Goldman Sachs Group, Inc.	3.046%	04/26/2022	0.6%
Moody's Corp.	0.000%	06/08/2020	0.6%
PNC Bank NA	2.252%	07/22/2022	0.6%
Mondelez International, Inc.	0.000%	04/03/2020	0.6%
Fortive Corp.	0.000%	04/06/2020	0.6%
National Grid USA	0.000%	04/13/2020	0.6%
American Electric Power Co., Inc.	0.000%	04/13/2020	0.5%
BAE Systems Holdings, Inc.	0.000%	09/08/2020	0.5%
Daimler Finance North America LLC	2.411%	11/05/2021	0.5%
Florida Power & Light Co.	2.308%	05/06/2022	0.5%
Broadcom Inc	0.000%	04/15/2020	0.5%
Citibank, Inc.	2.499%	05/20/2022	0.5%
Capital One Prime Auto Receivables Trust 2019-2	2.060%	09/15/2022	0.5%
Mondelez International, Inc.	0.000%	04/07/2020	0.5%
Mondelez International, Inc.	0.000%	04/06/2020	0.5%
Toronto-Dominion Bank	2.170%	03/17/2021	0.5%
US Bank NA	2.285%	12/09/2022	0.5%
Boeing Co.	0.000%	11/10/2020	0.5%
Boeing Co.	0.000%	11/18/2020	0.5%
Macquarie Bank Ltd.	2.357%	11/24/2021	0.5%
PNC Bank NA	2.004%	02/24/2023	0.5%
AbbVie, Inc.	2.153%	11/19/2021	0.5%
GM Financial Automobile Leasing Trust 2019-3	2.090%	10/20/2021	0.5%
Royal Bank of Canada	2.196%	01/17/2023	0.5%
Zimmer Biomet Holdings, Inc.	2.653%	03/19/2021	0.5%
NBCUniversal Enterprise, Inc.	2.309%	04/01/2021	0.5%
Jabil, Inc.	0.000%	05/08/2020	0.5%
Harris Corp.	1.523%	03/10/2023	0.4%
WestRock Co.	0.000%	04/01/2020	0.4%
Regions Bank, Birmingham, AL	2.405%	08/13/2021	0.4%
Westlake Automobile Receivables Trust 2019-3	2.150%	02/15/2023	0.4%
Bank of America NA	2.114%	07/26/2021	0.4%
Starbucks Corp.	0.000%	05/13/2020	0.4%
BMW US Capital LLC	2.258%	04/12/2021	0.4%
BAT Capital Corp	2.572%	08/15/2022	0.4%
LVMH Moet Hennessy Louis Vuitton Inc	0.000%	04/06/2020	0.4%
Walt Disney Co/The	0.000%	04/06/2020	0.4%
Duke Energy Corp.	0.000%	04/09/2020	0.4%
Cigna Corp	2.550%	09/17/2021	0.4%
Ford Credit Floorplan Master Owner Trust A	2.070%	05/15/2022	0.4%
BAT International Finance plc	0.000%	06/12/2020	0.4%
Wells Fargo Bank, N.A.	2.545%	09/09/2022	0.4%
Constellation Brands, Inc.	2.610%	11/15/2021	0.4%
Eastman Chemical Co.	0.000%	04/06/2020	0.4%
Ford Credit Floorplan Master Owner Trust A	2.390%	08/15/2022	0.4%
Entergy Corp.	0.000%	04/13/2020	0.4%
Principal Life Global Funding II	2.300%	10/06/2021	0.4%
HSBC Holdings plc	2.537%	09/11/2021	0.4%
Nutrien Ltd	0.000%	04/08/2020	0.4%
Stanley Black & Decker, Inc.	0.000%	04/06/2020	0.4%
Citibank, Inc.	2.223%	02/19/2022	0.4%
Marriott International, Inc.	0.000%	08/28/2020	0.4%
Bank of America Corp.	2.559%	10/01/2021	0.4%
Macquarie Bank Ltd.	2.358%	08/06/2021	0.4%
New York Life Global Funding	2.014%	01/10/2023	0.4%
BP Capital Markets plc	0.000%	05/15/2020	0.4%
PNC Bank NA	2.315%	12/09/2022	0.4%
National Australia Bank Ltd.	2.251%	12/13/2022	0.4%
American Honda Finance Corp.	1.807%	06/27/2022	0.4%
Campbell Soup Co.	0.000%	04/09/2020	0.4%
Toronto-Dominion Bank	2.070%	07/30/2021	0.3%
Bank of Montreal	0.818%	03/10/2023	0.3%
Citibank, Inc.	2.504%	07/23/2021	0.3%
General Motors Financial Co., Inc.	2.916%	04/13/2020	0.3%
Ovintiv Inc	0.000%	04/06/2020	0.3%
KeyBank NA	2.423%	02/01/2022	0.3%
Chesapeake Funding II LLC	1.185%	01/15/2031	0.3%
HSBC Holdings plc	2.504%	05/18/2021	0.3%
Toronto-Dominion Bank	2.437%	12/01/2022	0.3%
Sonoco Products Co.	0.000%	04/01/2020	0.3%
CenterPoint Energy, Inc.	0.000%	04/01/2020	0.3%
Branch Banking & Trust Co.	2.494%	05/17/2022	0.3%
Daimler Finance North America LLC	2.592%	02/15/2022	0.3%
Trillium Credit Card Trust II	3.038%	01/26/2024	0.3%
Nissan Master Owner Trust Receivables	1.135%	04/18/2022	0.3%
Ovintiv Inc	0.000%	04/01/2020	0.3%
Duke Energy Corp.	0.000%	04/03/2020	0.3%
Duke Energy Corp.	0.000%	05/12/2020	0.3%
Entergy Corp.	0.000%	06/03/2020	0.3%
BMW US Capital LLC	2.207%	08/13/2021	0.3%
ING Groep NV	3.111%	03/29/2022	0.3%
McCormick & Co., Inc.	0.000%	04/08/2020	0.3%
AbbVie, Inc.	2.245%	05/21/2021	0.3%
Skandinaviska Enskilda Banken AB	2.532%	12/12/2022	0.3%
Nissan Motor Acceptance Corp.	1.825%	09/21/2021	0.3%
Citigroup, Inc.	3.341%	03/30/2021	0.3%
TransCanada Pipelines Ltd.	0.000%	04/06/2020	0.3%
Capital One Prime Auto Receivables Trust 2020-1	1.640%	06/15/2023	0.3%
Daimler Finance North America LLC	2.143%	02/12/2021	0.3%
National Australia Bank Ltd.	2.351%	01/12/2021	0.3%
Dominion Gas Holdings LLC	2.494%	06/15/2021	0.3%
Entergy Corp.	0.000%	04/01/2020	0.3%
LyondellBasell Investment LLC	0.000%	04/08/2020	0.3%
Humana, Inc.	0.000%	04/23/2020	0.3%
McCormick & Co., Inc.	0.000%	04/13/2020	0.3%
Caterpillar Financial Services Corp.	1.884%	11/12/2021	0.3%
BAT International Finance plc	0.000%	06/18/2020	0.3%
DLL 2019-3 LLC	2.130%	01/20/2022	0.3%
Golden Credit Card Trust	1.155%	12/15/2022	0.3%
AT&T, Inc.	2.891%	06/30/2020	0.3%
Drive Auto Receivables Trust 2019-4	2.320%	06/15/2022	0.3%
Walgreen Co.	0.000%	06/08/2020	0.3%
Standard Chartered plc	3.091%	09/10/2022	0.3%
PNC Bank NA	2.201%	06/10/2021	0.3%
BMW US Capital LLC	2.368%	04/14/2022	0.3%
Crane Co.	0.000%	04/03/2020	0.3%
Sumitomo Mitsui Banking Corp	2.371%	10/16/2020	0.3%
NextEra Energy Capital Holdings, Inc.	2.464%	08/28/2021	0.3%
Bank of Montreal	2.202%	01/22/2021	0.3%
Huntington National Bank	2.284%	02/05/2021	0.3%
Southern Power Co	2.458%	12/20/2020	0.3%
Royal Bank of Canada	2.377%	07/08/2021	0.3%
Union Bank N.A.	2.485%	03/07/2022	0.3%
Fortive Corp.	0.000%	04/02/2020	0.3%
Boeing Co.	0.000%	12/02/2020	0.3%
Wells Fargo & Co.	2.682%	07/22/2020	0.3%
Aon plc	0.000%	05/05/2020	0.3%
Aon plc	0.000%	05/04/2020	0.3%
Humana, Inc.	0.000%	04/03/2020	0.3%
Martin Marietta Materials, Inc.	2.549%	05/22/2020	0.3%
Exeter Automobile Receivables Trust 2019-3	2.590%	09/15/2022	0.3%
Humana, Inc.	0.000%	05/01/2020	0.3%
E.I. du Pont de Nemours & Co.	0.000%	05/13/2020	0.3%
Caterpillar Financial Services Corp.	2.294%	05/17/2021	0.3%
Drive Auto Receivables Trust 2018-5	3.680%	07/15/2023	0.3%
Bank of New York Mellon/The	2.180%	06/04/2021	0.3%
Humana, Inc.	0.000%	04/02/2020	0.2%
Bank of Montreal	2.291%	09/10/2021	0.2%
Marriott International, Inc.	0.000%	08/26/2020	0.2%
Caterpillar Financial Services Corp.	2.185%	03/08/2021	0.2%
Goldman Sachs Group, Inc.	2.660%	02/23/2023	0.2%
Drive Auto Receivables Trust 2019-4	2.160%	05/15/2023	0.2%
BNP Paribas S.A.	2.284%	08/07/2021	0.2%
BMW Finance NV	2.503%	08/12/2022	0.2%
Manufacturers & Traders Trust Co	2.547%	12/01/2021	0.2%
Marriott International, Inc.	2.180%	12/01/2020	0.2%
Toyota Motor Credit Corp.	1.832%	08/13/2021	0.2%
Carvana Auto Receivables Trust 2019-3	2.420%	04/15/2022	0.2%
DNB Bank ASA	2.527%	12/02/2022	0.2%
American Express Co.	2.519%	05/20/2022	0.2%
GMF Floorplan Owner Revolving Trust	2.130%	07/15/2022	0.2%
Santander Drive Auto Receivables Trust 2018-3	3.510%	08/15/2023	0.2%
Ford Credit Auto Lease Trust 2019-A	2.900%	05/15/2022	0.2%
Santander Drive Auto Receivables Trust 2018-2	3.350%	07/17/2023	0.2%
Northrop Grumman Corp.	0.000%	04/09/2020	0.2%
McDonald's Corp.	2.366%	10/28/2021	0.2%
Bemis Co., Inc.	0.000%	04/09/2020	0.2%
AbbVie, Inc.	2.545%	11/21/2022	0.2%
First Investors Auto Owner Trust 2019-2	2.210%	09/16/2024	0.2%
World Omni Select Auto Trust 2018-1	3.460%	03/15/2023	0.2%
General Motors Financial Co., Inc.	0.000%	04/13/2020	0.2%
Boeing Co.	0.000%	07/08/2020	0.2%
Carmax Auto Owner Trust 2019-2	2.680%	03/15/2024	0.2%
Telstra Corp., Ltd.	0.000%	04/30/2020	0.2%
Manufacturers & Traders Trust Co	2.818%	12/28/2020	0.2%
Westpac Banking Corp.	2.233%	01/13/2023	0.2%
ERP Operating L.P.	0.000%	04/20/2020	0.2%
Ford Credit Floorplan Master Owner Trust A	2.160%	09/15/2022	0.2%
Vulcan Materials Co.	2.230%	03/01/2021	0.2%
Santander Drive Auto Receivables Trust 2016-1	5.020%	06/15/2023	0.2%
Sempra Energy	2.501%	01/15/2021	0.2%
Enable Midstream Partners L.P.	0.000%	05/26/2020	0.2%
Wells Fargo Bank, N.A.	2.539%	05/27/2022	0.2%
Entergy Corp.	0.000%	05/28/2020	0.2%
Hyundai Auto Lease Securitization Trust 2018-A	2.810%	04/15/2021	0.2%
Sherwin-Williams Co.	0.000%	04/06/2020	0.2%
Walgreen Co.	0.000%	04/24/2020	0.2%
Bell Canada, Inc.	0.000%	04/22/2020	0.2%
Humana, Inc.	0.000%	05/14/2020	0.2%
E.I. du Pont de Nemours & Co.	0.000%	05/12/2020	0.2%
Drive Auto Receivables Trust 2019-4	2.230%	01/16/2024	0.2%
UBS Group AG	3.439%	02/01/2022	0.2%
Walgreen Co.	0.000%	07/13/2020	0.2%
Santander Drive Auto Receivables Trust 2018-4	3.270%	01/17/2023	0.2%
Protective Life Global Funding	2.481%	06/28/2021	0.2%
Westlake Automobile Receivables Trust 2019-2	3.060%	02/15/2023	0.2%
New York Life Global Funding	2.276%	07/12/2022	0.2%
Honeywell International, Inc.	2.274%	08/08/2022	0.2%
Otis Worldwide Corp	2.088%	04/05/2023	0.2%
Jabil, Inc.	0.000%	05/01/2020	0.2%
Compass Bank	2.618%	06/11/2021	0.2%
Master Credit Card Trust	1.404%	07/21/2022	0.2%
Bemis Co., Inc.	0.000%	04/13/2020	0.2%
UBS AG London	2.387%	12/01/2020	0.2%
Bemis Co., Inc.	0.000%	04/16/2020	0.2%
Daimler Finance North America LLC	2.141%	05/04/2020	0.2%
Credit Agricole Corporate & Investment Bank SA	2.533%	10/03/2021	0.2%
AmeriCredit Automobile Receivables Trust 2019-3	2.170%	01/18/2023	0.2%
USAA Auto Owner Trust 2019-1	2.260%	02/15/2022	0.2%
First National Master Note Trust 2018-1	1.165%	10/15/2024	0.2%
GMF Floorplan Owner Revolving Trust	3.130%	03/15/2023	0.2%
Ford Credit Floorplan Master Owner Trust A	2.950%	05/15/2023	0.2%
Navistar Financial Dealer Note Master Owner Trust	1.577%	09/25/2023	0.2%
AIG Global Funding	2.444%	01/22/2021	0.2%
Nissan Motor Acceptance Corp.	1.261%	03/15/2021	0.2%
Bemis Co., Inc.	0.000%	04/15/2020	0.2%
Ford Motor Credit Co. LLC	2.728%	10/12/2021	0.2%
Hyundai Auto Lease Securitization Trust 2019-B	2.080%	12/15/2021	0.2%
World Financial Network Credit Card Master Trust	3.070%	12/16/2024	0.2%
Citizens Bank N.A.	2.629%	02/14/2022	0.2%
Westlake Automobile Receivables Trust 2019-1	3.510%	05/16/2022	0.2%
Glencore Funding LLC	2.875%	04/16/2020	0.2%
BAT International Finance plc	0.000%	04/03/2020	0.2%
Sherwin-Williams Co.	0.000%	04/09/2020	0.2%
Prestige Auto Receivables Trust 2019-1	2.450%	05/15/2023	0.2%
Citigroup, Inc.	1.549%	11/04/2022	0.2%
Golden Credit Card Trust	2.620%	01/15/2023	0.2%
Australia & New Zealand Banking Group Ltd.	2.385%	11/21/2022	0.2%
Marsh & McLennan Cos., Inc.	3.161%	12/29/2021	0.2%
Bank of Nova Scotia	2.406%	04/20/2021	0.2%
New York Life Global Funding	2.228%	08/06/2021	0.2%
ABN Amro Bank NV	2.489%	08/27/2021	0.2%
Entergy Corp.	0.000%	04/09/2020	0.2%
Charter Communications Operating LLC	3.579%	07/23/2020	0.2%
JPMorgan Chase & Co.	3.001%	01/15/2023	0.2%
DuPont de Nemours Inc	0.000%	04/06/2020	0.2%
Entergy Corp.	0.000%	04/06/2020	0.2%
TransCanada Pipelines Ltd.	0.000%	04/27/2020	0.2%
Humana, Inc.	0.000%	04/21/2020	0.2%
BP Capital Markets plc	1.888%	11/24/2020	0.2%
CNH Capital LLC	0.000%	04/02/2020	0.2%
Cigna Corp	0.000%	05/21/2020	0.2%
Black Hills Corp.	0.000%	04/07/2020	0.1%
Walgreen Co.	0.000%	07/21/2020	0.1%
Enel Finance America LLC	0.000%	04/14/2020	0.1%
Bell Canada, Inc.	0.000%	04/15/2020	0.1%
Synchrony Credit Card Master Note Trust	2.380%	09/15/2023	0.1%
Citigroup, Inc.	3.092%	08/02/2021	0.1%
Campbell Soup Co.	0.000%	04/20/2020	0.1%
Volkswagen Group of America Finance LLC	2.795%	09/24/2021	0.1%
Fifth Third Bank, OH	2.376%	07/26/2021	0.1%
LyondellBasell Investment LLC	0.000%	04/06/2020	0.1%
McCormick & Co., Inc.	0.000%	04/06/2020	0.1%
ERP Operating L.P.	0.000%	04/06/2020	0.1%
Harris Corp.	0.000%	04/02/2020	0.1%
Golden Credit Card Trust	1.980%	04/15/2022	0.1%
Toyota Motor Credit Corp.	2.412%	01/08/2021	0.1%
Westlake Automobile Receivables Trust 2018-3	3.320%	10/16/2023	0.1%
American Express Co.	2.491%	11/05/2021	0.1%
Duke Energy Corp.	0.000%	04/02/2020	0.1%
TD Ameritrade Holding Corp.	2.339%	11/01/2021	0.1%
Campbell Soup Co.	0.000%	04/14/2020	0.1%
Campbell Soup Co.	0.000%	04/29/2020	0.1%
Eni Finance USA, Inc.	0.000%	04/06/2020	0.1%
Ovintiv Inc	0.000%	04/08/2020	0.1%
Brookfield BRP Holdings Canada Inc	0.000%	04/23/2020	0.1%
E.I. du Pont de Nemours & Co.	0.000%	05/06/2020	0.1%
Entergy Corp.	0.000%	05/14/2020	0.1%
E.I. du Pont de Nemours & Co.	0.000%	05/05/2020	0.1%
Prestige Auto Receivables Trust 2019-1	2.440%	07/15/2022	0.1%
John Deere Capital Corp.	2.377%	06/13/2022	0.1%
American Honda Finance Corp.	1.118%	06/11/2021	0.1%
Ford Credit Auto Owner Trust 2016-REV1	2.310%	08/15/2027	0.1%
Ally Auto Receivables Trust 2019-4	1.930%	10/17/2022	0.1%
Nissan Motor Acceptance Corp.	2.351%	09/28/2020	0.1%
Regions Bank, Birmingham, AL	2.289%	04/01/2021	0.1%
World Omni Automobile Lease Securitization Trust 2	3.190%	12/15/2021	0.1%
AmeriCredit Automobile Receivables 2015-4	3.720%	12/08/2021	0.1%
GATX Corp.	2.611%	11/05/2021	0.1%
Aon plc	0.000%	04/02/2020	0.1%
First Investors Auto Owner Trust 2019-1	2.890%	03/15/2024	0.1%
Citigroup, Inc.	2.955%	12/08/2021	0.1%
Branch Banking & Trust Co.	0.883%	03/09/2023	0.1%
Mercedes-Benz Master Owner Trust 2018-BA	1.045%	05/15/2023	0.1%
SCF Equipment Leasing 2019-2 LLC	2.220%	06/20/2024	0.1%
Bank of America Corp.	3.146%	10/21/2022	0.1%
Cigna Corp	0.000%	05/04/2020	0.1%
SL Green Operating Partnership L.P.	2.884%	08/16/2021	0.1%
GM Financial Automobile Leasing Trust 2019-1	2.980%	12/20/2021	0.1%
GM Financial Consumer Automobile Receivables Trust	1.830%	01/17/2023	0.1%
GM Financial Automobile Leasing Trust 2019-2	2.670%	06/21/2021	0.1%
Express Scripts Holding Co.	2.330%	11/30/2020	0.1%
PVH Corp.	0.000%	05/18/2020	0.1%
Phillips 66	2.751%	04/15/2020	0.1%
BMW Vehicle Lease Trust 2019-1	2.840%	11/22/2021	0.1%
Harley-Davidson Financial Services Inc	2.395%	05/21/2020	0.1%
Foursight Capital Automobile Receivables Trust 202	1.970%	09/15/2023	0.1%
Enel Finance America LLC	0.000%	04/08/2020	0.1%
Drive Auto Receivables Trust	3.660%	11/15/2024	0.1%
Federation des Caisses Desjardins du Quebec	2.266%	10/30/2020	0.1%
Amur Equipment Finance Receivables VII LLC	2.630%	06/20/2024	0.1%
DuPont de Nemours Inc	2.402%	11/15/2020	0.1%
Lloyds Bank plc	2.384%	05/07/2021	0.1%
Gracechurch Card Funding PLC	1.105%	07/15/2022	0.1%
Mitsubishi UFJ Financial Grp, Inc.	2.586%	07/26/2021	0.1%
Jabil, Inc.	0.000%	05/26/2020	0.1%
CNH Capital LLC	0.000%	04/17/2020	0.1%
DuPont de Nemours Inc	0.000%	04/02/2020	0.1%
Starbucks Corp.	0.000%	05/11/2020	0.1%
BP Capital Markets plc	0.000%	06/18/2020	0.1%
Chesapeake Funding II LLC	2.120%	11/15/2029	0.1%
Royal Caribbean Cruises Ltd.	0.000%	04/06/2020	0.1%
PVH Corp.	0.000%	05/19/2020	0.1%
John Deere Capital Corp.	2.285%	06/07/2021	0.1%
LyondellBasell Investment LLC	0.000%	04/03/2020	0.1%
BMW Floorplan Master Owner Trust	3.150%	05/15/2023	0.1%
GM Financial Consumer Automobile Receivables Trust	1.970%	05/16/2022	0.1%
Nissan Motor Acceptance Corp.	2.738%	01/13/2022	0.1%
CarMax Auto Owner Trust	1.600%	06/15/2022	0.1%
Albemarle Corp.	2.941%	11/15/2022	0.1%
MPLX L.P.	2.785%	09/09/2021	0.1%
Santander Retail Auto Lease Trust 2018-A	2.930%	05/20/2021	0.1%
Manufacturers & Traders Trust Co	2.210%	01/25/2021	0.1%
ConAgra Brands, Inc.	2.552%	10/22/2020	0.1%
Vulcan Materials Co.	2.494%	06/15/2020	0.1%
Barclays Dryrock Issuance Trust	1.005%	05/15/2023	0.1%
DLL 2018-1 LLC	3.100%	04/18/2022	0.1%
Phillips 66	2.517%	02/26/2021	0.1%
Conn's Receivables Funding 2019-B LLC	2.660%	06/17/2024	0.1%
GM Financial Automobile Leasing Trust 2019-2	2.670%	03/21/2022	0.1%
Verizon Communications, Inc.	2.233%	05/22/2020	0.1%
Fifth Third Auto Trust 2019-1	2.660%	05/16/2022	0.1%
Capital One Financial Corp.	2.835%	03/09/2022	0.1%
Dollar Tree, Inc.	2.702%	04/17/2020	0.1%
Ally Master Owner Trust	3.290%	05/15/2023	0.1%
Textron, Inc.	2.451%	11/10/2020	0.1%
HPEFS Equipment Trust 2020-1	1.730%	02/20/2030	0.1%
Synchrony Credit Card Master Note Trust	3.360%	03/15/2024	0.1%
Daimler Finance North America LLC	2.563%	02/22/2022	0.1%
Duqesne Light Holdings, Inc.	6.400%	09/15/2020	0.1%
Drive Auto Receivables Trust	4.160%	05/15/2024	0.1%
Cummins, Inc.	0.000%	04/06/2020	0.1%
General Dynamics Corp.	0.000%	04/06/2020	0.1%
Bank of America Corp.	2.597%	06/25/2022	0.1%
Daimler Finance North America LLC	2.271%	05/05/2020	0.1%
Branch Banking & Trust Co.	2.436%	10/26/2021	0.1%
Citigroup, Inc.	3.246%	10/26/2020	0.1%
RELX Inc	0.000%	04/01/2020	0.1%
Capital Auto Receivables Asset Trust 2018-1	2.930%	06/20/2022	0.1%
Westlake Automobile Receivables Trust 2016-3	3.580%	01/18/2022	0.1%
Drive Auto Receivables Trust	4.180%	03/15/2024	0.1%
Bristol-Myers Squibb Co.	2.104%	11/16/2020	0.1%
Ford Motor Credit Co. LLC	2.710%	04/05/2021	0.1%
Royal Caribbean Cruises Ltd.	2.650%	11/28/2020	0.1%
Americredit Automobile Receivables Trust 2019-1	0.872%	06/20/2022	0.1%
Jackson National Life Global Funding	2.677%	06/27/2022	0.1%
Santander UK plc	2.527%	06/01/2021	0.1%
Wells Fargo Bank, N.A.	2.434%	07/23/2021	0.1%
Santander Drive Auto Receivables Trust 2016-2	4.380%	09/15/2023	0.1%
Enterprise Fleet Financing LLC	2.360%	05/20/2023	0.1%
Capital One Multi-Asset Execution Trust	1.215%	09/16/2024	0.1%
NextGear Floorplan Master Owner Trust	2.540%	04/18/2022	0.1%
Crane Co.	0.000%	04/01/2020	0.1%
NextGear Floorplan Master Owner Trust	1.305%	10/15/2023	0.1%
PFS Financing Corp.	2.400%	10/17/2022	0.1%
Flagship Credit Auto Trust 2018-3	3.070%	02/15/2023	0.1%
Drive Auto Receivables Trust 2019-3	2.630%	09/15/2022	0.1%
Conn's Receivables Funding 2019-A LLC	3.400%	10/16/2023	0.1%
Bank of Montreal	2.518%	09/11/2022	0.1%
Santander Drive Auto Receivables Trust 2018-5	3.520%	12/15/2022	0.1%
ARI Fleet Lease Trust 2020-A	1.770%	08/15/2028	0.1%
Capital Auto Receivables Asset Trust 2018-2	3.270%	06/20/2023	0.1%
Americredit Automobile Receivables Trust 2019-1	2.930%	06/20/2022	0.1%
SCF Equipment Leasing 2019-1 LLC	3.040%	03/20/2023	0.1%
World Omni Automobile Lease Securitization Trust 2	2.830%	07/15/2021	0.1%
BP Capital Markets plc	0.000%	08/14/2020	0.1%
Ford Credit Auto Lease Trust 2020-A	1.800%	07/15/2022	0.1%
Santander Drive Auto Receivables Trust 2016-3	2.800%	08/15/2022	0.1%
DLL Securitization Trust 2017-A	2.140%	12/15/2021	0.1%
Australia & New Zealand Banking Group Ltd.	2.364%	05/17/2021	0.1%
Capital Auto Receivables Asset Trust 2018-1	2.790%	01/20/2022	0.1%
American Credit Acceptance Receivables Trust 2019-	3.320%	04/12/2023	0.1%
BAT International Finance plc	0.000%	04/01/2020	0.1%
Wabtec Corp.	3.194%	09/15/2021	0.1%
Mercedes-Benz Auto Lease Trust 2019-A	3.100%	11/15/2021	0.1%
Citibank, Inc.	2.266%	10/20/2020	0.1%
Capital One Financial Corp.	2.661%	05/12/2020	0.1%
Constellation Brands, Inc.	0.000%	04/01/2020	0.1%
BAT Capital Corp	2.294%	08/14/2020	0.1%
Santander UK plc	2.202%	11/03/2020	0.1%
CPS Auto Receivables Trust 2019-A	3.180%	06/15/2022	0.1%
Citibank Credit Card Issuance Trust	2.880%	01/23/2023	0.1%
ConAgra Brands, Inc.	2.512%	10/09/2020	0.1%
BMW Vehicle Lease Trust 2019-1	2.790%	03/22/2021	0.1%
ABN Amro Bank NV	2.376%	01/19/2021	0.1%
Daimler Finance North America LLC	2.301%	05/04/2021	0.1%
QUALCOMM, Inc.	2.449%	05/20/2020	0.1%
Aviation Capital Group Corp.	2.606%	07/30/2021	0.1%
American Express Credit Corp.	2.944%	09/14/2020	0.1%
Australia & New Zealand Banking Group Ltd.	2.221%	11/09/2020	0.1%
Lloyds Banking Group plc	2.728%	06/21/2021	0.1%
American Express Credit Account Master Trust	3.070%	10/15/2024	0.1%
Aviation Capital Group Corp.	2.857%	06/01/2021	0.1%
Royal Caribbean Cruises Ltd.	0.000%	04/01/2020	0.1%
Bayer US Finance II LLC	2.577%	06/25/2021	0.1%
Wells Fargo & Co.	3.046%	01/24/2023	0.1%
Master Credit Card Trust II	3.400%	01/21/2022	0.0%
Becton, Dickinson & Co.	2.836%	12/29/2020	0.0%
BMW US Capital LLC	2.540%	04/06/2022	0.0%
Santander Drive Auto Receivables Trust 2018-2	3.030%	09/15/2022	0.0%
TransCanada Pipelines Ltd.	0.000%	04/01/2020	0.0%
AstraZeneca plc	2.511%	06/10/2022	0.0%
American Express Credit Corp.	0.000%	04/06/2020	0.0%
Amur Equipment Finance Receivables VI LLC	3.890%	07/20/2022	0.0%
Drive Auto Receivables Trust 2018-2	3.630%	08/15/2024	0.0%
Barclays Dryrock Issuance Trust	1.035%	07/15/2024	0.0%
Drive Auto Receivables Trust	3.720%	09/16/2024	0.0%
Chesapeake Funding II LLC	1.045%	08/15/2029	0.0%
General Motors Financial Co., Inc.	3.536%	01/14/2022	0.0%
Marlette Funding Trust 2018-4	3.710%	12/15/2028	0.0%
Daimler Finance North America LLC	2.133%	02/22/2021	0.0%
Flagship Credit Auto Trust 2018-2	2.970%	10/17/2022	0.0%
Ally Financial, Inc.	7.500%	09/15/2020	0.0%
GM Financial Automobile Leasing Trust 2019-1	2.910%	04/20/2021	0.0%
ACC Trust 2019-1	3.750%	05/20/2022	0.0%
Nissan Motor Acceptance Corp.	2.238%	07/13/2020	0.0%
Campbell Soup Co.	2.524%	03/15/2021	0.0%
Mercedes-Benz Auto Lease Trust 2018-B	3.210%	09/15/2021	0.0%
Santander Drive Auto Receivables Trust 2018-1	2.630%	07/15/2022	0.0%
Navient Private Education Refi Loan Trust 2019-A	3.030%	01/15/2043	0.0%
Enterprise Fleet Financing LLC	2.870%	10/20/2023	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	2.710%	09/08/2022	0.0%
CPS Auto Trust	3.310%	12/15/2022	0.0%
Santander Drive Auto Receivables Trust 2016-2	3.390%	04/15/2022	0.0%
California Republic Auto Receivables Trust 2017-1	2.280%	06/15/2022	0.0%
GE Capital International Funding Co.	2.342%	11/15/2020	0.0%
FREED ABS TRUST 2018-2	3.990%	10/20/2025	0.0%
UnitedHealth Group, Inc.	0.000%	04/01/2020	0.0%
Capital Auto Receivables Asset Trust 2018-2	3.480%	10/20/2023	0.0%
Conn's Receivables Funding 2018-A LLC	3.250%	01/15/2023	0.0%
Becton, Dickinson & Co.	2.917%	06/06/2022	0.0%
Drive Auto Receivables Trust 2017-3	3.530%	12/15/2023	0.0%
Drive Auto Receivables Trust	4.530%	08/15/2023	0.0%
Goldman Sachs Group, Inc.	3.094%	09/15/2020	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%
Synchrony Credit Card Master Note Trust	1.930%	06/15/2023	0.0%
Santander Drive Auto Receivables Trust 2018-3	3.290%	10/17/2022	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%
Ford Motor Credit Co. LLC	2.193%	11/02/2020	0.0%
Walgreen Co.	0.000%	04/23/2020	0.0%
Foursight Capital Automobile Receivables Trust 201	3.320%	04/15/2022	0.0%
General Motors Co.	2.694%	08/07/2020	0.0%
Drive Auto Receivables Trust 2019-3	2.900%	08/15/2025	0.0%
Ally Auto Receivables Trust 2017-2	1.780%	08/16/2021	0.0%
Barclays plc	3.459%	01/10/2023	0.0%
World Omni Select Auto Trust 2018-1	3.240%	04/15/2022	0.0%
AvalonBay Communities, Inc.	2.257%	01/15/2021	0.0%
American Express Co.	2.266%	10/30/2020	0.0%
UBS Group AG	3.375%	09/24/2020	0.0%
CarMax Auto Owner Trust 2017-2	1.930%	03/15/2022	0.0%
SCF Equipment Leasing 2018-1 LLC	3.630%	10/20/2024	0.0%
AT&T, Inc.	2.951%	07/15/2021	0.0%
National Australia Bank Ltd.	2.488%	09/20/2021	0.0%
Drive Auto Receivables Trust	3.720%	10/17/2022	0.0%
American Express Credit Account Master Trust	1.155%	09/16/2024	0.0%
First Investors Auto Owner Trust 2018-2	3.230%	12/15/2022	0.0%
KeyBank NA	2.709%	11/22/2021	0.0%
Marlette Funding Trust 2018-3	3.200%	09/15/2028	0.0%
Sofi Professional Loan Program 2018-B Trust	2.640%	08/25/2047	0.0%
Nissan Auto Receivables 2019-A Owner Trust	2.820%	01/18/2022	0.0%
Westlake Automobile Receivables Trust 2018-3	2.980%	01/18/2022	0.0%
Honda Auto Receivables 2017-3 Owner Trust	1.790%	09/20/2021	0.0%
AmeriCredit Automobile Receivables Trust 2017-4	2.040%	07/18/2022	0.0%
CPS Auto Trust	3.430%	07/15/2022	0.0%
First National Master Note Trust 2017-2	1.145%	10/16/2023	0.0%
PNC Bank NA	2.052%	01/22/2021	0.0%
Chesapeake Funding II LLC	1.045%	11/15/2029	0.0%
CVS Caremark Corp.	2.605%	03/09/2021	0.0%
Americredit Automobile Receivables Trust 2018-3	0.862%	01/18/2022	0.0%
Americredit Automobile Receivables Trust 2018-3	3.110%	01/18/2022	0.0%
Foursight Capital Automobile Receivables Trust 201	3.240%	09/15/2022	0.0%
Volkswagen Group of America Finance LLC	2.841%	11/12/2021	0.0%
Sofi Professional Loan Program 2018-A LLC	2.390%	02/25/2042	0.0%
Exeter Automobile Receivables Trust 2016-3	4.220%	06/15/2022	0.0%
Ascentium Equipment Receivables 2017-1 Trust	2.290%	06/10/2021	0.0%
Wheels SPV 2 LLC	3.060%	04/20/2027	0.0%
Royal Bank of Canada	2.176%	10/26/2020	0.0%
FREED ABS TRUST 2018-1	3.610%	07/18/2024	0.0%
Spirit AeroSystems, Inc.	2.694%	06/15/2021	0.0%
Citizens Bank N.A.	2.727%	05/26/2022	0.0%
Wells Fargo Bank, N.A.	2.311%	01/15/2021	0.0%
Americredit Automobile Receivables Trust 2018-2	2.860%	11/18/2021	0.0%
Jackson National Life Global Funding	1.248%	06/11/2021	0.0%
Westlake Automobile Receivables Trust 2018-1	2.920%	05/15/2023	0.0%
AmeriCredit Automobile Receivables Trust 2016-3	2.240%	04/08/2022	0.0%
Springleaf Funding Trust 2016-A	2.900%	11/15/2029	0.0%
Bank of Montreal	2.188%	07/13/2020	0.0%
Westgate Resorts 2018-1 LLC	3.380%	12/20/2031	0.0%
American Credit Acceptance Receivables Trust 2018-	3.550%	04/10/2024	0.0%
Citizens Bank N.A.	2.487%	05/26/2020	0.0%
American Credit Acceptance Receivables Trust 2016-	4.260%	08/12/2022	0.0%
Capital Auto Receivables Asset Trust 2018-2	3.020%	02/22/2021	0.0%
ING Bank NV	2.874%	08/17/2020	0.0%
Assurant, Inc.	3.197%	03/26/2021	0.0%
Drive Auto Receivables Trust	3.360%	10/17/2022	0.0%
Fifth Third Bank, OH	2.549%	02/01/2022	0.0%
Chesapeake Funding II LLC	1.990%	05/15/2029	0.0%
Drive Auto Receivables Trust	4.090%	01/15/2026	0.0%
Santander Drive Auto Receivables Trust 2016-3	2.460%	03/15/2022	0.0%
HSBC Holdings plc	3.570%	05/25/2021	0.0%
Canadian Imperial Bank of Commerce	2.217%	02/02/2021	0.0%
Exeter Automobile Receivables Trust 2017-1	3.950%	12/15/2022	0.0%
CPS Auto Receivables Trust 2018-B	3.230%	07/15/2022	0.0%
Chesapeake Funding II LLC	1.155%	05/15/2029	0.0%
MMAF Equipment Finance LLC 2014-A	1.590%	02/08/2022	0.0%
Dell Equipment Finance Trust 2018-1	2.970%	10/22/2020	0.0%
CCG Receivables Trust 2018-1	2.500%	06/16/2025	0.0%
SOFI PROFESSIONAL LOAN PROGRAM 2017-F LLC	2.050%	01/25/2041	0.0%
Capital Auto Receivables Asset Trust 2017-1	2.020%	08/20/2021	0.0%
Barclays Dryrock Issuance Trust 2017-1	1.035%	03/15/2023	0.0%
Chesapeake Funding II LLC	1.910%	08/15/2029	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%
CPS Auto Receivables Trust 2016-C	3.270%	06/15/2022	0.0%
Avid Automobile Receivables Trust 2018-1	2.840%	08/15/2023	0.0%
SoFi Professional Loan Program 2017-E LLC	1.860%	11/26/2040	0.0%
Americredit Automobile Receivables Trust 2016-4	1.830%	12/08/2021	0.0%
SoFi Consumer Loan Program 2016-2 LLC	3.090%	10/27/2025	0.0%
Flagship Credit Auto Trust 2017-4	2.070%	04/15/2022	0.0%
Enterprise Fleet Financing LLC	1.970%	01/20/2023	0.0%
TCF Auto Receivables Owner Trust 2016-PT1	1.930%	06/15/2022	0.0%
CPS Auto Receivables Trust 2017-D	2.430%	01/18/2022	0.0%
Flagship Credit Auto Trust 2016-1	3.910%	06/15/2022	0.0%
Drive Auto Receivables Trust 2019-2	2.930%	03/15/2022	0.0%
OneMain Financial Issuance Trust 2016-1A	3.660%	02/20/2029	0.0%
California Republic Auto Receivables Trust 2016-2	1.830%	12/15/2021	0.0%
Engs Commercial Finance Trust	2.630%	02/22/2022	0.0%
Enterprise Fleet Financing LLC	2.130%	07/20/2022	0.0%

Dividends & Cap Gains

DIVIDEND PAYMENTS

For

YTD Dividends Paidas of 05/29/2020: $0.064
Dividend Frequency: Monthly (Daily Accrual)

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
Daily	Daily	05/31/2020	$0.01200	$10.00
Daily	Daily	04/30/2020	$0.01413	$9.96
Daily	Daily	03/31/2020	$0.01641	$9.86
Daily	Daily	02/29/2020	$0.01628	$10.04
Daily	Daily	01/31/2020	$0.01798	$10.04

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	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 04/30/2020

0.25%

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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^*Barron’s Top Fund Families of 2019, February 14, 2020, #5 in the Taxable Bond Category among 55 fund families. Based on the net total return of the one−year period ending 12/31/2019. #14 Overall ranking among 55 qualifying fund families based on the net total return of the one-year period ending 12/31/2019. Five-year Overall ranking is #30 out of 52 fund families; 10-year Overall ranking is #33 out of 45 fund families.

Source: Barron’s, “Barron’s Top Fund Families of 2019,” February 14, 2020. Barron’s rankings are based on asset weighted returns in funds in five categories: U.S. equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2019, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2019 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well. Barron's Fund Family Rankings are awarded annually.

© Reuters 2020. All Rights Reserved. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

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 R6 - The inception date for Class R6 shares is June 30, 2015. The performance quotations for Class R6 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 R6 shares; and (b) for periods after June 30, 2015, actual Class R6 performance is used, which reflects all charges and fees applicable to Class R6 shares.

Class R6 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 05/29/2020

30-Day Standardized Yield 2 as of 04/30/2020

Fund Basicsas of 04/30/2020

Fund Expense Ratio :

0.25%

Fund Expense Ratio :

0.25%

Fund Expense Ratio :

0.25%

Fund Expense Ratio :

0.25%

RELATED CONTENT

Credit Quality Distribution as of 04/30/2020 View Portfolio

INVESTMENT TEAM

Your Representative

Performance

Performance

NAV HISTORICAL PRICES

Fund Expense Ratio :

0.25%

Fund Expense Ratio :

0.25%

Fund Expense Ratio :

0.25%

Fund Expense Ratio :

0.25%

Portfolio

Portfolio

CREDIT QUALITY DISTRIBUTION as of 04/30/2020

Portfolio Positioning as of 3/31/2020

Portfolio Details as of 04/30/2020

Dividends & Cap Gains

Dividends & Cap Gains

DIVIDEND PAYMENTS

DIVIDEND PAYMENTS

Upcoming Dividend Payment Dates

CAPITAL GAINS DISTRIBUTIONS

Upcoming Capital Gain Distribution

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 04/30/2020

Fund Documents

Fund Documents

Coming Soon.......

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7 Day Yield ^1,4 as of 05/29/2020

30-Day Standardized Yield ² as of 04/30/2020