Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
$14.39
$1.17 B
3.92%
$0.56
0.71%
YTD Return
6.2%
1 yr return
7.1%
3 Yr Avg Return
0.1%
5 Yr Avg Return
1.3%
Net Assets
$1.17 B
Holdings in Top 10
11.2%
Expense Ratio 0.71%
Front Load 2.25%
Deferred Load N/A
Turnover 14.00%
Redemption Fee N/A
Standard (Taxable)
$1,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
$14.39
$1.17 B
3.92%
$0.56
0.71%
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. These municipal bonds and other securities in which the Fund may invest may pay interest that is subject to the federal alternative minimum tax (‘‘AMT’’) for certain taxpayers. Normally, the Fund seeks to maintain an investment portfolio with a weighted average effective duration of less than 4.5 years.
Although the Fund may invest in municipal bonds in any rating category, under normal conditions, the Fund invests at least 50% of its net assets in municipal bonds rated BBB+/Baa1 or lower (at the time of purchase), or an equivalent short-term rating, as applicable, by an independent rating agency or that are unrated but deemed by Lord Abbett to be of comparable quality, with a particular emphasis on 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 without limitation in unrated municipal bonds, which may constitute a significant portion of the Fund’s portfolio.
The Fund also may invest in 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 presently does not intend to invest more than 20% of its net assets (measured at the time of investment) in such defaulted or distressed securities. However, the Fund’s defaulted or distressed debt holdings may exceed this level from time to time if the Fund purchased securities that were not considered in default or distressed at their time of purchase and such
securities subsequently become defaulted or distressed. These investment strategies are generally higher risk relative to strategies employed by funds that invest primarily in investment grade municipal bonds.
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 may invest up to 100% of its net assets in private activity bonds (commonly referred to as ‘‘AMT paper’’), which are a type of municipal bond that pays interest that is subject to AMT. 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 100% 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. Because the Fund primarily invests in short duration municipal bonds, it is less sensitive to interest rate changes than a fund that focuses on longer duration bonds.
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.
Period | SDHAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 6.2% | -0.8% | 14.7% | 72.14% |
1 Yr | 7.1% | -0.1% | 17.8% | 82.59% |
3 Yr | 0.1%* | -8.1% | 3.4% | 26.02% |
5 Yr | 1.3%* | -4.8% | 3.9% | 60.51% |
10 Yr | N/A* | -0.5% | 155.7% | N/A |
* Annualized
Period | SDHAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.4% | -6.2% | 7.5% | 87.13% |
2022 | -11.7% | -26.9% | -3.5% | 10.05% |
2021 | 2.1% | -1.9% | 5.6% | 52.79% |
2020 | -0.6% | -4.0% | 4.2% | 76.53% |
2019 | 4.1% | -0.7% | 9.1% | 84.74% |
Period | SDHAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 6.2% | -0.8% | 14.7% | 72.14% |
1 Yr | 7.1% | -0.1% | 17.8% | 82.59% |
3 Yr | 0.1%* | -8.1% | 3.4% | 26.02% |
5 Yr | 1.3%* | -4.8% | 3.9% | 60.51% |
10 Yr | N/A* | -0.5% | 155.7% | N/A |
* Annualized
Period | SDHAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.1% | -4.1% | 10.9% | 86.14% |
2022 | -9.4% | -26.9% | 4.3% | 12.56% |
2021 | 4.3% | -1.9% | 10.0% | 76.14% |
2020 | 2.4% | -2.6% | 8.2% | 73.47% |
2019 | 5.5% | -0.7% | 1028633.9% | 97.37% |
SDHAX | Category Low | Category High | SDHAX % Rank | |
---|---|---|---|---|
Net Assets | 1.17 B | 3.1 M | 15.6 B | 46.00% |
Number of Holdings | 399 | 20 | 3325 | 54.77% |
Net Assets in Top 10 | 170 M | -102 M | 1.96 B | 49.25% |
Weighting of Top 10 | 11.23% | 4.6% | 98.9% | 67.34% |
Weighting | Return Low | Return High | SDHAX % Rank | |
---|---|---|---|---|
Bonds | 99.16% | 0.00% | 146.69% | 50.99% |
Cash | 0.84% | -0.64% | 10.86% | 40.20% |
Other | 0.00% | -5.67% | 5.07% | 20.10% |
Stocks | 0.00% | 0.00% | 99.72% | 81.19% |
Preferred Stocks | 0.00% | -47.61% | 0.00% | 73.87% |
Convertible Bonds | 0.00% | 0.00% | 0.00% | 71.86% |
Weighting | Return Low | Return High | SDHAX % Rank | |
---|---|---|---|---|
Municipal | 99.13% | 50.68% | 100.00% | 38.69% |
Derivative | 0.00% | -7.70% | 2.16% | 14.57% |
Cash & Equivalents | 0.00% | 0.00% | 10.86% | 83.42% |
Securitized | 0.00% | 0.00% | 22.44% | 74.37% |
Corporate | 0.00% | 0.00% | 2.83% | 81.41% |
Government | 0.00% | 0.00% | 0.09% | 74.87% |
Weighting | Return Low | Return High | SDHAX % Rank | |
---|---|---|---|---|
US | 99.16% | 0.00% | 139.84% | 47.24% |
Non US | 0.00% | 0.00% | 13.35% | 75.88% |
SDHAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.71% | 0.22% | 3.44% | 72.77% |
Management Fee | 0.35% | 0.00% | 1.41% | 8.42% |
12b-1 Fee | 0.20% | 0.00% | 1.00% | 30.84% |
Administrative Fee | 0.04% | 0.02% | 0.35% | 16.67% |
SDHAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 2.25% | 1.00% | 4.50% | 97.67% |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
SDHAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | N/A |
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.
SDHAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 14.00% | 2.00% | 121.00% | 27.27% |
SDHAX | Category Low | Category High | SDHAX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.92% | 0.00% | 5.94% | 58.91% |
SDHAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
SDHAX | Category Low | Category High | SDHAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.09% | 1.11% | 5.44% | 92.57% |
SDHAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Nov 30, 2024 | $0.047 | OrdinaryDividend |
Oct 31, 2024 | $0.047 | OrdinaryDividend |
Sep 30, 2024 | $0.048 | OrdinaryDividend |
Aug 31, 2024 | $0.048 | OrdinaryDividend |
Jul 31, 2024 | $0.047 | OrdinaryDividend |
Jun 30, 2024 | $0.047 | OrdinaryDividend |
Apr 30, 2024 | $0.046 | OrdinaryDividend |
Mar 31, 2024 | $0.046 | OrdinaryDividend |
Feb 29, 2024 | $0.047 | OrdinaryDividend |
Jan 31, 2024 | $0.047 | OrdinaryDividend |
Dec 31, 2023 | $0.047 | OrdinaryDividend |
Nov 30, 2023 | $0.047 | OrdinaryDividend |
Oct 31, 2023 | $0.046 | OrdinaryDividend |
Sep 30, 2023 | $0.045 | OrdinaryDividend |
Aug 31, 2023 | $0.045 | OrdinaryDividend |
Jul 31, 2023 | $0.043 | OrdinaryDividend |
Jun 30, 2023 | $0.045 | OrdinaryDividend |
May 31, 2023 | $0.042 | OrdinaryDividend |
Apr 30, 2023 | $0.042 | OrdinaryDividend |
Mar 31, 2023 | $0.042 | OrdinaryDividend |
Feb 28, 2023 | $0.042 | OrdinaryDividend |
Jan 31, 2023 | $0.041 | OrdinaryDividend |
Dec 31, 2022 | $0.041 | OrdinaryDividend |
Nov 30, 2022 | $0.039 | OrdinaryDividend |
Oct 31, 2022 | $0.037 | OrdinaryDividend |
Sep 30, 2022 | $0.036 | OrdinaryDividend |
Aug 31, 2022 | $0.034 | OrdinaryDividend |
Jul 31, 2022 | $0.033 | OrdinaryDividend |
Jun 30, 2022 | $0.032 | OrdinaryDividend |
May 31, 2022 | $0.031 | OrdinaryDividend |
Apr 30, 2022 | $0.030 | OrdinaryDividend |
Mar 31, 2022 | $0.026 | OrdinaryDividend |
Feb 28, 2022 | $0.024 | OrdinaryDividend |
Jan 31, 2022 | $0.021 | OrdinaryDividend |
Dec 31, 2021 | $0.022 | OrdinaryDividend |
Nov 30, 2021 | $0.023 | OrdinaryDividend |
Oct 31, 2021 | $0.022 | OrdinaryDividend |
Sep 30, 2021 | $0.023 | OrdinaryDividend |
Aug 31, 2021 | $0.022 | OrdinaryDividend |
Jul 31, 2021 | $0.023 | OrdinaryDividend |
Jun 30, 2021 | $0.026 | OrdinaryDividend |
May 31, 2021 | $0.026 | OrdinaryDividend |
Apr 30, 2021 | $0.027 | OrdinaryDividend |
Mar 31, 2021 | $0.027 | OrdinaryDividend |
Feb 28, 2021 | $0.030 | OrdinaryDividend |
Jan 31, 2021 | $0.032 | OrdinaryDividend |
Dec 31, 2020 | $0.032 | OrdinaryDividend |
Nov 30, 2020 | $0.035 | OrdinaryDividend |
Oct 30, 2020 | $0.035 | OrdinaryDividend |
Sep 30, 2020 | $0.036 | OrdinaryDividend |
Aug 31, 2020 | $0.035 | OrdinaryDividend |
Jul 31, 2020 | $0.035 | OrdinaryDividend |
Jun 30, 2020 | $0.036 | OrdinaryDividend |
May 29, 2020 | $0.034 | OrdinaryDividend |
Apr 30, 2020 | $0.034 | OrdinaryDividend |
Mar 31, 2020 | $0.032 | OrdinaryDividend |
Feb 28, 2020 | $0.033 | OrdinaryDividend |
Jan 31, 2020 | $0.034 | OrdinaryDividend |
Dec 31, 2019 | $0.036 | OrdinaryDividend |
Nov 29, 2019 | $0.036 | OrdinaryDividend |
Oct 31, 2019 | $0.036 | OrdinaryDividend |
Sep 30, 2019 | $0.036 | OrdinaryDividend |
Aug 30, 2019 | $0.036 | OrdinaryDividend |
Jul 31, 2019 | $0.036 | OrdinaryDividend |
Dec 20, 2017 | $0.002 | CapitalGainLongTerm |
Start Date
Tenure
Tenure Rank
Jun 15, 2015
6.96
7.0%
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.
Start Date
Tenure
Tenure Rank
Feb 01, 2019
3.33
3.3%
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.25 | 21.43 | 7.58 | 2.52 |
Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...