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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$6.36

$3.81 B

7.61%

$0.48

0.60%

Vitals

YTD Return

2.0%

1 yr return

11.5%

3 Yr Avg Return

0.8%

5 Yr Avg Return

2.8%

Net Assets

$3.81 B

Holdings in Top 10

5.5%

52 WEEK LOW AND HIGH

$6.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.60%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 113.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$6.36

$3.81 B

7.61%

$0.48

0.60%

LHYOX - Profile

Distributions

  • YTD Total Return 2.0%
  • 3 Yr Annualized Total Return 0.8%
  • 5 Yr Annualized Total Return 2.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.88%
DIVIDENDS
  • Dividend Yield 7.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Lord Abbett High Yield Fund
  • Fund Family Name
    LORDABBETT
  • Inception Date
    Apr 04, 2017
  • Shares Outstanding
    N/A
  • Share Class
    F3
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Steven Rocco

Fund Description

Under normal conditions, the Fund pursues its investment objective by investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in lower-rated debt securities (commonly referred to as “high-yield” or “junk” bonds), including corporate debt securities and securities that are convertible into common stock or have warrants to purchase common stock. The Fund may invest in debt securities of any credit quality, including defaulted securities (i.e., bonds on which the issuer has not paid principal or interest on time) and securities of issuers that are or may become involved in reorganizations, financial restructurings, or bankruptcy (commonly referred to as “distressed debt”). The Fund may invest in structured securities and other hybrid instruments, including collateralized loan obligations (“CLOs”). The Fund may invest up to 20% of its net assets in foreign securities (including emerging market securities and American Depositary Receipts (“ADRs”)). The Fund defines foreign securities as securities of non-U.S. issuers that are denominated in non-U.S. currencies. In addition, the Fund may invest up to 20% of its net assets in municipal securities. The Fund also may invest up to 15% of its net assets in floating or adjustable rate loans, including bridge loans, novations, assignments, and participations.

The Fund also may invest up to 20% of its net assets in equity securities. Equity securities include common stocks, preferred stocks, convertible preferred stocks, warrants, rights to purchase equity securities of an issuer, and equity interests in trusts and partnerships, including real estate investment trusts (“REITs”). The Fund may acquire equity securities as a result of restructurings of debt securities held in its portfolio. In addition, the Fund may purchase equity securities to pursue capital appreciation or to diversify its portfolio.

The Fund may invest in mortgage-backed, mortgage-related, and other asset-backed securities, which directly or indirectly represent a participation in, or are secured by and payable from, mortgage loans, real property, or other assets. The Fund will not invest more than 25% of its total assets in any industry; however, this limitation does not apply to mortgage-backed securities, privately issued mortgage-related securities, or securities issued by the U.S. Government, its agencies and instrumentalities.

The Fund may use derivatives to hedge against risk or to gain investment exposure. Currently, the Fund expects to invest in derivatives consisting principally of futures, forwards, options, and swaps. The Fund may use derivatives to seek to enhance

returns, to attempt to hedge some of its investment risk, to manage portfolio duration, as a substitute for holding the underlying asset on which the derivative instrument is based, or for cash management purposes. For example, the Fund may invest in or sell short U.S. Treasury futures, securities index futures, other futures, and/or currency forwards to adjust the Fund’s exposure to the direction of interest rates, or for other portfolio management reasons.

The Fund believes high total return (current income and capital appreciation) may be derived from an actively-managed, diversified portfolio of investments. In addition to seeking current income, the Fund seeks to invest across the ratings spectrum, particularly in lower-rated debt securities. The Fund seeks to purchase lower-rated securities the Fund believes will experience declining credit risk, allowing the securities potentially to generate higher returns.

The portfolio management team selects securities using a bottom-up analysis of an issuer’s management quality, credit risk, and relative market position, and industry dynamics, as well as an evaluation of conditions within the broader economy. The portfolio management team attempts to reduce risk through portfolio diversification, credit analysis, and attention to current developments and trends in interest rates and economic conditions. The investment team may also consider the risks and return potential presented by environmental, social, and governance (“ESG”) factors in investment decisions. The Fund engages in active and frequent trading of its portfolio securities.

The Fund may sell a security when the Fund believes the security is less likely to benefit from the current market and economic environment, or shows signs of deteriorating fundamentals, among other reasons. The Fund may deviate from the investment strategy described above for temporary defensive purposes. The Fund may miss certain investment opportunities if defensive strategies are used and thus may not achieve its investment objective.

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LHYOX - Performance

Return Ranking - Trailing

Period LHYOX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.0% -4.9% 8.2% 18.88%
1 Yr 11.5% -4.3% 26.0% 48.98%
3 Yr 0.8%* -15.6% 20.6% 79.90%
5 Yr 2.8%* -11.2% 37.3% 75.47%
10 Yr N/A* -4.7% 19.5% 10.20%

* Annualized

Return Ranking - Calendar

Period LHYOX Return Category Return Low Category Return High Rank in Category (%)
2023 3.4% -4.7% 14.3% 87.89%
2022 -18.5% -33.4% 3.6% 86.68%
2021 1.1% -8.4% 14.9% 22.19%
2020 -1.1% -13.9% 302.7% 67.23%
2019 8.8% -4.4% 13.3% 31.03%

Total Return Ranking - Trailing

Period LHYOX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.0% -4.9% 8.2% 18.88%
1 Yr 11.5% -4.3% 26.0% 48.98%
3 Yr 0.8%* -15.6% 20.6% 79.90%
5 Yr 2.8%* -11.2% 37.3% 75.47%
10 Yr N/A* -4.7% 19.5% 10.87%

* Annualized

Total Return Ranking - Calendar

Period LHYOX Return Category Return Low Category Return High Rank in Category (%)
2023 10.7% -4.7% 18.7% 77.80%
2022 -13.5% -33.4% 47.8% 89.03%
2021 6.9% -8.4% 24.8% 14.03%
2020 5.3% -9.6% 325.6% 53.78%
2019 12.0% -3.8% 21.5% 76.21%

NAV & Total Return History


LHYOX - Holdings

Concentration Analysis

LHYOX Category Low Category High LHYOX % Rank
Net Assets 3.81 B 1.85 M 22.6 B 14.13%
Number of Holdings 678 2 2736 18.21%
Net Assets in Top 10 210 M -492 M 4.45 B 27.93%
Weighting of Top 10 5.51% 4.2% 149.6% 97.99%

Top 10 Holdings

  1. CCO Holdings LLC / CCO Holdings Capital Corp 0.80%
  2. CCO Holdings LLC / CCO Holdings Capital Corp 0.78%
  3. CCO Holdings LLC / CCO Holdings Capital Corp 0.74%
  4. Vistra Operations Co LLC 0.48%
  5. Fortress Transportation and Infrastructure Investors LLC 0.47%
  6. Cloud Software Group Inc 0.47%
  7. Bombardier Inc 0.46%
  8. Altice France SA/France 0.46%
  9. American Airlines Inc 0.44%
  10. Cloud Software Group Inc 0.42%

Asset Allocation

Weighting Return Low Return High LHYOX % Rank
Bonds
94.47% -3.13% 154.38% 53.61%
Stocks
2.63% 0.00% 99.61% 24.88%
Cash
2.29% -52.00% 49.49% 74.85%
Convertible Bonds
0.51% 0.00% 17.89% 79.48%
Other
0.44% -63.70% 102.57% 23.92%
Preferred Stocks
0.17% 0.00% 8.06% 31.48%

Stock Sector Breakdown

Weighting Return Low Return High LHYOX % Rank
Consumer Cyclical
33.98% 0.00% 100.00% 10.34%
Energy
33.74% 0.00% 100.00% 49.44%
Real Estate
16.27% 0.00% 86.71% 7.54%
Basic Materials
16.01% 0.00% 100.00% 10.34%
Utilities
0.00% 0.00% 100.00% 91.90%
Technology
0.00% 0.00% 33.17% 92.18%
Industrials
0.00% 0.00% 93.12% 93.85%
Healthcare
0.00% 0.00% 22.17% 89.39%
Financial Services
0.00% 0.00% 100.00% 93.85%
Communication Services
0.00% 0.00% 99.99% 95.53%
Consumer Defense
0.00% 0.00% 100.00% 90.50%

Stock Geographic Breakdown

Weighting Return Low Return High LHYOX % Rank
US
2.63% 0.00% 99.61% 25.00%
Non US
0.00% -0.01% 0.83% 90.59%

Bond Sector Breakdown

Weighting Return Low Return High LHYOX % Rank
Corporate
97.82% 0.00% 129.69% 19.01%
Securitized
2.05% 0.00% 97.24% 18.08%
Cash & Equivalents
0.21% 0.00% 49.49% 83.95%
Derivative
0.05% -15.04% 42.26% 19.91%
Government
0.04% 0.00% 99.07% 32.46%
Municipal
0.00% 0.00% 4.66% 88.10%

Bond Geographic Breakdown

Weighting Return Low Return High LHYOX % Rank
US
91.32% -3.13% 129.21% 62.50%
Non US
3.15% 0.00% 97.33% 25.15%

LHYOX - Expenses

Operational Fees

LHYOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.60% 0.04% 31.61% 86.42%
Management Fee 0.53% 0.00% 1.84% 40.31%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.04% 0.00% 0.50% 20.31%

Sales Fees

LHYOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

LHYOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

LHYOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 113.00% 1.00% 255.00% 91.85%

LHYOX - Distributions

Dividend Yield Analysis

LHYOX Category Low Category High LHYOX % Rank
Dividend Yield 7.61% 0.00% 35.52% 16.26%

Dividend Distribution Analysis

LHYOX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

LHYOX Category Low Category High LHYOX % Rank
Net Income Ratio 4.88% -2.39% 14.30% 26.53%

Capital Gain Distribution Analysis

LHYOX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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LHYOX - Fund Manager Analysis

Managers

Steven Rocco


Start Date

Tenure

Tenure Rank

Dec 08, 2010

11.48

11.5%

Mr. Rocco is Partner and Director of Taxable Fixed Income of Lord Abbett. Mr. Rocco is a lead portfolio manager for the high yield fixed income strategy and also contributes as portfolio manager to the multi-sector fixed-income strategy. Mr. Rocco joined Lord Abbett in 2004 and was named Partner in 2011. Mr. Rocco joined Lord Abbett as an associate portfolio manager and then transitioned to lead portfolio manager for our short duration and corporate bond strategies. He was previously a Consultant at FactSet. Mr. Rocco received a BA from Cornell University. He is a holder of a Chartered Financial Analyst designation and has been in the investment business since 2001.

Robert Lee


Start Date

Tenure

Tenure Rank

Oct 15, 2013

8.63

8.6%

Robert A. Lee is a Partner and Chief Investment Officer at the Lord Abbett & Company. Mr. Lee joined Lord Abbett in 1997 and was named Partner in 2002. His prior experience includes: Portfolio Manager and Vice President at ARM Capital Advisors; Assistant Portfolio Manager and Assistant Vice President at Kidder Peabody Asset Management; and Fixed Income Research Analyst at The First Boston Corporation. Mr. Lee received a BS from the University of Pennsylvania. He has been in the investment business since 1991.

Christopher Gizzo


Start Date

Tenure

Tenure Rank

Apr 01, 2018

4.17

4.2%

Christopher J. Gizzo, Portfolio Manager, has joined Lord Abbett in 2008.

Karen Gunnerson


Start Date

Tenure

Tenure Rank

Apr 01, 2021

1.16

1.2%

Karen Gunnerson is responsible for contributing to the management for the firm’s taxable-fixed income strategies with a focus on high yield and bank loan securities. Ms. Gunnerson joined Lord Abbett in 2017. Her previous experience includes serving as Investment Grade Credit Desk Strategist at RBC Capital Markets, and as a Corporate Credit Risk Associate at Bank of America Merrill Lynch. She has worked in the financial services industry since 2010. She earned a BS in finance from the Warrington College of Business at the University of Florida.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.12 8.17