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Trending ETFs

Lord Abbett National Tax-Free Income Fund

mutual fund
LTNSX
Payout Change
Pending
Price as of:
$10.7 -0.01 -0.09%
primary theme
Municipal Bond
LTNSX (Mutual Fund)

Lord Abbett National Tax-Free Income Fund

Payout Change
Pending
Price as of:
$10.7 -0.01 -0.09%
primary theme
Municipal Bond
LTNSX (Mutual Fund)

Lord Abbett National Tax-Free Income Fund

Payout Change
Pending
Price as of:
$10.7 -0.01 -0.09%
primary theme
Municipal Bond

Name

As of 12/05/2024

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

$10.70

$4.28 B

2.89%

$0.31

1.40%

Vitals

YTD Return

4.5%

1 yr return

6.5%

3 Yr Avg Return

-1.6%

5 Yr Avg Return

0.5%

Net Assets

$4.28 B

Holdings in Top 10

6.8%

52 WEEK LOW AND HIGH

$10.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.40%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 18.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/05/2024

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

$10.70

$4.28 B

2.89%

$0.31

1.40%

LTNSX - Profile

Distributions

  • YTD Total Return 4.5%
  • 3 Yr Annualized Total Return -1.6%
  • 5 Yr Annualized Total Return 0.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.94%
DIVIDENDS
  • Dividend Yield 2.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Lord Abbett National Tax-Free Income Fund
  • Fund Family Name
    Lord Abbett
  • Inception Date
    Apr 04, 2017
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Daniel Solender

Fund Description

Under normal conditions, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in municipal bonds that pay interest exempt from federal income tax. The Fund uses the volatility of the Bloomberg Municipal Bond Index as an approximation of reasonable risk.

Under normal conditions, the Fund invests in investment grade municipal bonds, which are bonds that are rated BBB/Baa or higher (at the time of purchase), or an equivalent short-term rating, as applicable, by an independent rating agency or are unrated but deemed by Lord, Abbett & Co. LLC (“Lord Abbett”) to be of comparable quality. The Fund may invest up to 35% of its net assets in lower rated municipal bonds (commonly referred to as “below investment grade,” “high yield,” or “junk” bonds), which are bonds that are rated BB+/Ba1 or lower (at the time of purchase), or an equivalent short-term rating, as applicable, by an independent rating agency or are unrated but deemed by Lord Abbett to be of comparable quality.

The Fund may invest in all types of municipal bonds, including general obligation bonds, revenue bonds, municipal leases, and variable rate demand notes. The Fund may invest in both insured and uninsured municipal bonds. The Fund also may invest in zero coupon, deferred interest, pay-in-kind, and capital appreciation bonds.

The Fund may invest up to 20% of its net assets in municipal bonds that pay interest that is subject to the federal alternative minimum tax (“AMT”), including private activity bonds (commonly referred to as “AMT paper”). Although the Fund is permitted to invest up to 20% of its net assets in fixed income securities that pay interest that is subject to regular federal income tax, the Fund presently has no intention of investing in this manner. There is a risk that a bond issued as tax-exempt may be reclassified by the Internal Revenue Service (“IRS”) as taxable. The Fund will not invest more than 25% of its total assets in any industry; however, this limitation does not apply to tax-exempt securities and securities issued by the U.S. Government or its agencies or instrumentalities. Certain types of municipal securities (including general obligation, general appropriation, municipal leases, special assessment, and special tax bonds) are not considered a part of any “industry” for purposes of this industry concentration policy. Therefore, the Fund may invest more than 25% of its total assets in these types of municipal securities. The Fund may invest without limitation in securities of issuers located in a single state, territory, municipality, or region.

The Fund may invest up to 20% of its net assets in inverse floaters (also known as “residual interest bonds”), which are a type of derivative investment that provides leveraged exposure to underlying municipal bonds whose interest payments vary inversely with changes in short-term tax-exempt interest rates. The Fund also may

invest in other types of derivatives, such as futures, for non-hedging, hedging, or duration management purposes.

The Fund may invest in individual securities of any maturity or duration. Normally, the Fund seeks to maintain a dollar-weighted average maturity of between twelve and twenty-five years. The Fund may invest in money market securities and their equivalents, typically for cash management purposes.

The Fund’s portfolio management team focuses on credit risk analysis, tax-exempt income yield, total return potential, interest rate risk and call protection in managing its portfolio. The investment team may also consider the risks and return potential presented by environmental, social, and governance (“ESG”) factors in investment decisions. 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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LTNSX - Performance

Return Ranking - Trailing

Period LTNSX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.5% -4.7% 38.6% 22.70%
1 Yr 6.5% -2.4% 46.4% 19.88%
3 Yr -1.6%* -10.3% 6.8% 92.62%
5 Yr 0.5%* -6.5% 1104.9% 80.15%
10 Yr 1.9%* -0.9% 249.0% 42.87%

* Annualized

Return Ranking - Calendar

Period LTNSX Return Category Return Low Category Return High Rank in Category (%)
2023 3.8% -1.4% 41.0% 15.15%
2022 -16.4% -39.7% 0.3% 92.70%
2021 1.0% -5.6% 6.9% 8.80%
2020 1.9% -2.6% 310.0% 39.64%
2019 5.9% 0.0% 26.0% 6.70%

Total Return Ranking - Trailing

Period LTNSX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.5% -4.7% 38.6% 22.70%
1 Yr 6.5% -2.4% 46.4% 19.88%
3 Yr -1.6%* -10.3% 6.8% 92.62%
5 Yr 0.5%* -6.5% 1104.9% 80.15%
10 Yr 1.9%* -0.9% 249.0% 42.87%

* Annualized

Total Return Ranking - Calendar

Period LTNSX Return Category Return Low Category Return High Rank in Category (%)
2023 6.8% -1.3% 41.0% 22.42%
2022 -14.5% -39.7% 1.1% 94.13%
2021 3.0% -4.8% 23761504.0% 15.81%
2020 4.4% -1.5% 17057.9% 29.69%
2019 8.6% 0.2% 3514.6% 9.14%

NAV & Total Return History


LTNSX - Holdings

Concentration Analysis

LTNSX Category Low Category High LTNSX % Rank
Net Assets 4.28 B 3.22 M 71.9 B 8.60%
Number of Holdings 740 4 13418 15.31%
Net Assets in Top 10 321 M -317 M 3.09 B 11.08%
Weighting of Top 10 6.77% 1.8% 100.3% 93.21%

Top 10 Holdings

  1. California Community Choice Financing Authority 0.95%
  2. Buckeye Tobacco Settlement Financing Authority 0.89%
  3. New York Transportation Development Corp 0.78%
  4. Pennsylvania Economic Development Financing Authority 0.72%
  5. Kentucky Public Energy Authority 0.62%
  6. Iowa Finance Authority 0.62%
  7. Iowa Finance Authority 0.59%
  8. New York State Dormitory Authority 0.55%
  9. Energy Southeast A Cooperative District 0.53%
  10. Metropolitan Pier Exposition Authority 0.52%

Asset Allocation

Weighting Return Low Return High LTNSX % Rank
Bonds
99.52% 0.00% 150.86% 32.08%
Cash
0.48% -50.86% 44.62% 69.11%
Other
0.00% -3.69% 53.54% 12.63%
Stocks
0.00% 0.00% 99.78% 29.66%
Preferred Stocks
0.00% 0.00% 0.07% 18.87%
Convertible Bonds
0.00% 0.00% 0.93% 18.27%

Bond Sector Breakdown

Weighting Return Low Return High LTNSX % Rank
Municipal
99.98% 44.39% 100.00% 10.52%
Derivative
0.00% -3.69% 53.54% 9.74%
Cash & Equivalents
0.00% 0.00% 44.41% 65.82%
Securitized
0.00% 0.00% 5.93% 19.55%
Corporate
0.00% 0.00% 9.41% 34.59%
Government
0.00% 0.00% 52.02% 25.08%

Bond Geographic Breakdown

Weighting Return Low Return High LTNSX % Rank
US
99.52% 0.00% 142.23% 30.09%
Non US
0.00% 0.00% 23.89% 23.44%

LTNSX - Expenses

Operational Fees

LTNSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.40% 0.01% 8.02% 19.35%
Management Fee 0.39% 0.00% 1.20% 35.03%
12b-1 Fee 0.86% 0.00% 1.00% 76.32%
Administrative Fee 0.04% 0.01% 0.44% 4.14%

Sales Fees

LTNSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load 1.00% 0.25% 5.00% 26.22%

Trading Fees

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

LTNSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 18.00% 0.00% 283.00% 50.88%

LTNSX - Distributions

Dividend Yield Analysis

LTNSX Category Low Category High LTNSX % Rank
Dividend Yield 2.89% 0.00% 14.51% 48.12%

Dividend Distribution Analysis

LTNSX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

LTNSX Category Low Category High LTNSX % Rank
Net Income Ratio 1.94% -0.53% 5.33% 50.71%

Capital Gain Distribution Analysis

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

Distributions History

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LTNSX - Fund Manager Analysis

Managers

Daniel Solender


Start Date

Tenure

Tenure Rank

Sep 14, 2006

15.72

15.7%

Mr. Solender is the lead portfolio manager of the municipal bond capabilities. Mr. Solender joined Lord Abbett in 2006 and was named Partner in 2008. His prior experience includes: Vice President and Portfolio Manager at Nuveen Investments; Principal and Portfolio Manager at Vanguard Group; Assistant Vice President and Portfolio Manager at Nuveen Advisory Corp.; Financial Analyst/Assistant Manager, Research and Product Development at Citibank. Mr. Solender received a BA from the University of Columbia and an MBA from the University of Chicago. He is the holder of a Chartered Financial Analyst designation and has been in the investment business since 1987.

Gregory Shuman


Start Date

Tenure

Tenure Rank

Dec 31, 2014

7.42

7.4%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58