Lord Abbett Floating Rate Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, Lord Abbett Floating Rate Fund held 475 positions with $4.33B in net assets. Its ten largest holdings made up 12.0% of the fund. The LFRAX share class costs 0.81% a year. Over the 12 months to May 2026, LFRAX returned 6.2%, with dividends reinvested. In 2026 Q2 it added 126 new positions and exited 109.
The Funds investment objective is to seek a high level of current income.
The fund invests at least 80% of assets in floating or adjustable rate loans and debt securities, including senior and subordinated loans, structured products, and derivatives that convert fixed-rate debt into floating rate exposure, with the goal of capturing rising interest income as rates move higher. The fund may hold up to 20% in fixed-rate debt and other instruments, up to 25% in non-U.S. issuers and emerging markets, and accepts below-investment-grade credit quality. Because the fund's income depends on the floating rate instruments it selects and their credit performance, deterioration in those issuers or a decline in interest rates will reduce returns.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
RBC Dominion Securities, Inc. | 4.36% | $189.00M | — | — |
Invesco Senior Loan ETF | 1.25% | $54.09M | 2.6M | $20.47 |
Fidelity Investments | 1.16% | $50.24M | — | — |
ALLOY FINCO LIMITED 13.50% floating · due 2028-03-06 | 1.11% | $48.27M | — | — |
DISCOVERY GLOBAL HOLDINGS INC 0.00% · due 2033-06-30 | 0.94% | $40.86M | — | — |
HUDSON RIVER TRADING LLC 6.14% floating · due 2030-03-18 | 0.72% | $31.30M | — | — |
AI AQUA MERGER SUB INC 6.16% floating · due 2028-07-31 | 0.64% | $27.76M | — | — |
American Airlines, Inc. 5.93% floating · due 2028-04-20 | 0.63% | $27.46M | — | — |
Allied Universal Holdco LLC 6.90% floating · due 2032-08-20 | 0.61% | $26.32M | — | — |
PROOFPOINT INC 6.70% floating · due 2028-08-31 | 0.61% | $26.23M | — | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.
The 200 largest of 475 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Loans | 84.11% |
| Bonds | 9.69% |
| Cash & short-term | 5.79% |
| Stocks | 0.90% |
| 2 smaller | 0.85% |
Look-through blends 2 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
By sector
- Other
- 75.5%
- International
- 12.6%
- Information Technology
- 2.4%
- Cash
- 1.3%
- 11 other sectors
- 8.2%
- Other
- 75.5%
- International
- 12.6%
- Information Technology
- 2.4%
- Cash
- 1.3%
- Communication Services
- 1.2%
- Industrials
- 1.1%
- Health Care
- 1.0%
- Consumer Discretionary
- 1.0%
- Utilities
- 0.9%
- Financials
- 0.9%
- Materials
- 0.6%
- Securitized
- 0.6%
- Real Estate
- 0.3%
- Consumer Staples
- 0.3%
- Energy
- 0.2%
How it has done
LFRAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 1.80%. Past returns are a record, not a forecast.
The 10 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.81% | +6.23% | +27.55% | +32.64% | -0.88% | |
| 1.43% | +5.42% | +25.02% | +28.39% | -1.06% | |
| 0.71% | +6.19% | +27.75% | +33.11% | -1.00% | |
| 0.61% | +6.29% | +28.11% | +33.75% | -0.99% | |
| 1.21% | +5.66% | +25.86% | +29.87% | -0.91% | |
| 1.11% | +5.74% | +26.21% | +30.51% | -1.03% | |
| 0.86% | +6.01% | +27.32% | +32.27% | -0.89% | |
| 0.61% | +6.27% | +28.09% | +33.76% | -0.99% | |
| 0.54% | +6.50% | +28.53% | +34.39% | -0.86% | |
| 0.54% | +6.38% | +28.36% | +34.23% | -0.86% |
These classes hold the same portfolio, so the 6.00pp spread over 5 years is the cost difference between them — roughly 1.20pp a year — not a difference in what they own.
Fees & fund details
Lord Abbett Floating Rate Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- High yield
- Rate sensitivity
- Short duration
- Expense ratio, by class
- 0.54% – 1.43%· LFRAX 0.81%
- Portfolio turnover
- 83.00% a year · as of 2026 Q2
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
126 new· the largest 8
109 exited· the largest 8
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Floating rate | 85.0% |
| Fixed rate | 10.3% |
| Zero-coupon or unclassified | 4.7% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.4% |
| 1-3y | 20.1% |
| 3-5y | 25.1% |
| 5-10y | 52.8% |
| 10y+ | 0.6% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Interest-rate moves barely touch this fund — but its credit exposure is real: a 100bp widening in credit spreads costs roughly 3.5%. Duration alone would have told you none of that.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 97% |
| Interest rates | 3% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +3.47 yr |
| Investment grade | +0.13 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.05 yr | 18% |
| 1 yr | 0.21 yr | 81% |
| 30 yr | 0.00 yr | 0% |
5 yr and 10 yr are NEGATIVE (-0.08 yr, -0.08 yr) — a deliberate hedge at that point on the curve, so they are not part of the band above.
| 3 mo | 0.02 yr | 1% |
| 1 yr | 0.60 yr | 17% |
| 5 yr | 2.55 yr | 71% |
| 10 yr | 0.43 yr | 12% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.05 | +0.00 | +0.02 | $150 | $8.0k |
| 1 yr | +0.21 | +0.01 | +0.59 | $2.9k | $257.7k |
| 5 yr | -0.08 | +0.09 | +2.46 | $40.3k | $1.07m |
| 10 yr | -0.08 | +0.03 | +0.40 | $12.5k | $172.3k |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 0.10 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Understand how this fund fits with the rest.
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