Lord Abbett Intermediate Tax Free Fund
LORD ABBETT MUNICIPAL INCOME FUND INC · 5 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Lord Abbett Intermediate Tax Free 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
- Investment grade
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2026 Q1
The investment objective of the Fund is to seek the maximum amount of interest income exempt from federal income tax as is consistent with reasonable risk.
The fund invests at least 80% of net assets in municipal bonds exempt from federal income tax, with a target dollar-weighted average maturity of five to twelve years, and uses the Bloomberg 1-15 Year Municipal Bond Index as a volatility benchmark for reasonable risk. Under normal conditions it holds investment-grade bonds rated BBB/Baa or higher, though it may allocate up to 20% to below-investment-grade bonds and up to 20% to bonds subject to the alternative minimum tax. The fund's portfolio managers focus on credit analysis, tax-exempt yield, total return, interest rate risk, and call protection, and may employ derivatives including inverse floaters for leveraged exposure to municipal bonds.
| Share class | Expense ratio |
|---|---|
| LISFX | 0.62% |
| LAIIX | 0.52% |
| C000096629 | 0.97% |
| LISAX | 0.72% |
| LISCX | 1.34% |
| LOISX | 0.47% |
Portfolio turnover 49.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 99.49% |
| Derivatives | 0.05% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE ×2, WASHINGTON ST HLTH CARE FACS AUTH, EP THE ARTHUR PFC RSDL DEV REVENUE TX, STHRN CALIFORNIA ST PUBLIC PWR AUTH STHRN TRANSMISSION SYSTE, NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT, FW SKYLINE PUBLIC FAC CORP TX, NATIONAL FIN AUTH NH MUNI CTFS
Largest exited: BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE, NEW YORK CITY NY TRANSITIONAL FIN AUTH REV, CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE, CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE, COLORADO ST HLTH FACS AUTH REVENUE, NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT, MICHIGAN ST FIN AUTH REVENUE, UNIV OF CALIFORNIA CA REVENUES
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +6.20% | +12.10% | +4.76% | 3.95% | -4.11% | |
| +6.31% | +12.35% | +5.25% | 3.93% | -4.09% | |
| +6.09% | +11.64% | +4.15% | 3.93% | -4.14% | |
| +5.45% | +9.62% | +1.06% | 3.97% | -4.29% | |
| +6.37% | +12.66% | +5.65% | 4.04% | -4.07% |
These classes hold the same portfolio, so the 4.59pp spread over 5 years is the cost difference between them — roughly 0.92pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 78.0% |
| Floating rate | 21.7% |
| Zero-coupon or unclassified | 0.3% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.0% |
| 1-3y | 1.7% |
| 3-5y | 2.5% |
| 5-10y | 21.1% |
| 10y+ | 73.7% |
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
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
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 | 54% |
| Interest rates | 46% |
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.
| Investment grade | +5.39 yr |
| High yield | +0.71 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 | 0.06 yr | 1% |
| 1 yr | 0.27 yr | 5% |
| 5 yr | 1.42 yr | 27% |
| 10 yr | 3.13 yr | 59% |
| 30 yr | 0.41 yr | 8% |
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.36 yr | 6% |
| 5 yr | 1.83 yr | 30% |
| 10 yr | 3.46 yr | 57% |
| 30 yr | 0.44 yr | 7% |
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 | +0.06 | +0.02 | +0.01 | $9.7k | $2.9k |
| 1 yr | +0.27 | +0.28 | +0.07 | $159.2k | $40.5k |
| 5 yr | +1.42 | +1.58 | +0.25 | $884.1k | $138.6k |
| 10 yr | +3.13 | +3.14 | +0.32 | $1.76m | $177.6k |
| 30 yr | +0.41 | +0.37 | +0.07 | $205.4k | $40.7k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE4.00% floating · due 2052-08-01 | 1.11% | $61.91M | — |
| — | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE5.00% · due 2035-10-01 | 0.80% | $44.48M | — |
| — | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE5.00% · due 2033-07-01 | 0.77% | $43.13M | — |
| — | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE3.78% floating · due 2031-12-01 | 0.69% | $38.84M | — |
| — | TEXAS ST MUNI GAS ACQUISITION & SPLY CORP VI GAS SPLY REV5.00% · due 2036-01-01 | 0.67% | $37.34M | — |
| — | MINNESOTA MUNI GAS AGY GAS PROJ REVENUE5.00% · due 2035-09-01 | 0.64% | $35.67M | — |
| — | CHICAGO IL5.00% · due 2042-01-01 | 0.62% | $34.83M | — |
| — | SOUTHEAST ENERGY AUTHORITY A COOPERATIVE5.00% · due 2035-11-01 | 0.62% | $34.46M | — |
| — | BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE5.00% · due 2035-12-01 | 0.60% | $33.88M | — |
| — | WASHINGTON ST HLTH CARE FACS AUTH5.00% · due 2035-10-01 | 0.60% | $33.72M | — |
Top 10 positions are 7.11% of net assets, top 25 14.52%, across 393 issuers.
See more of this fund's book
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