Lord Abbett Investment Grade Floating Rate Fund
LORD ABBETT TRUST I · 7 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Lord Abbett Investment Grade Floating Rate Fund is an actively managed global bond fund.
- Asset class
- Bonds
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Short duration
Fund profile
As filed in the prospectus · 2025 Q4
The Funds investment objective is to seek a high level of current income.
The fund seeks high current income by investing at least 80% of assets in investment-grade floating or adjustable-rate debt securities, using derivatives to convert fixed-rate debt into floating-rate exposure and to manage duration and hedge risk. The portfolio management team employs relative value analysis, combining top-down macroeconomic assessment with bottom-up security selection to identify undervalued opportunities across fixed-income sectors. The fund may allocate up to 20% of assets to below-investment-grade securities and invests in non-U.S. issuers and emerging markets. Because returns depend on the manager's security selection and relative value judgments, performance will diverge from any benchmark.
| Share class | Expense ratio |
|---|---|
| LGRUX | 0.31% |
| IGRSX | 0.37% |
| C000241942 | 0.62% |
| C000241943 | 0.87% |
| LGRAX | 0.57% |
| LGRYX | 0.37% |
| IGRNX | 0.31% |
| LGRFX | 0.47% |
| IGRCX | 1.31% |
| C000241949 | 0.97% |
Portfolio turnover 119.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Securitized | 79.17% |
| Bonds | 12.88% |
| Loans | 9.16% |
| Cash & short-term | 0.78% |
| Derivatives | 0.21% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: United States Treasury, KUNTARAHOITUS OYJ, Kennedy Lewis CLO Ltd ×2, JPN BANK FOR INT'L COOP, Fixed Income Clearing Corp., Diameter Capital CLO, Anthelion CLO
Largest exited: United States Treasury, FED HOME LN DISCOUNT NT, Silver Point CLO, Ltd, Benefit Street Partners CLO Ltd, CPS Auto Trust, Nassau LTD, EUROPEAN BK RECON & DEV, Fixed Income Clearing Corp
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 |
|---|---|---|---|---|---|
| +6.12% | +24.20% | — | 0.88% | -0.12% | |
| +6.06% | +23.94% | — | 0.88% | -0.13% | |
| +5.83% | +23.24% | — | 0.88% | -0.15% | |
| +6.06% | +23.99% | — | 0.88% | -0.13% | |
| +6.13% | +24.23% | — | 0.88% | -0.12% | |
| +6.01% | +23.92% | — | 0.94% | -0.24% | |
| +5.03% | +20.48% | — | 0.88% | -0.22% |
These classes hold the same portfolio, so the 3.75pp spread over 3 years is the cost difference between them — roughly 1.25pp a year — not a difference in what they own.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Floating rate | 77.6% |
| Fixed rate | 21.7% |
| Zero-coupon or unclassified | 0.6% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.6% |
| 1-3y | 10.5% |
| 3-5y | 12.0% |
| 5-10y | 24.9% |
| 10y+ | 51.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
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 3.0%. 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 | 79% |
| Interest rates | 21% |
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 | +1.74 yr |
| High yield | +1.14 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 | 0.14 yr | 18% |
| 1 yr | 0.24 yr | 32% |
| 5 yr | 0.37 yr | 48% |
| 10 yr | 0.02 yr | 2% |
30 yr is NEGATIVE (-0.00 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.03 yr | 1% |
| 1 yr | 0.62 yr | 22% |
| 5 yr | 1.87 yr | 65% |
| 10 yr | 0.32 yr | 11% |
| 30 yr | 0.04 yr | 1% |
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 | +0.14 | +0.02 | +0.00 | $9.2k | $1.9k |
| 1 yr | +0.24 | +0.43 | +0.19 | $173.5k | $75.1k |
| 5 yr | +0.37 | +1.06 | +0.81 | $426.0k | $322.7k |
| 10 yr | +0.02 | +0.19 | +0.13 | $76.3k | $52.2k |
| 30 yr | -0.00 | +0.03 | +0.01 | $12.7k | $3.5k |
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 |
|---|---|---|---|---|
| — | United States Treasury3.38% · due 2027-12-31 | 3.48% | $139.26M | — |
| — | KUNTARAHOITUS OYJ4.65% floating · due 2026-07-15 | 0.87% | $34.96M | — |
| — | Neuberger Berman CLO Ltd4.99% floating · due 2039-07-20 | 0.65% | $26.06M | — |
| — | Sothebys ArtFi Master Trust4.92% floating · due 2033-06-20 | 0.57% | $22.81M | — |
| — | GOLDMAN SACHS GROUP INC4.73% floating · due 2031-01-28 | 0.52% | $20.92M | — |
| — | HalseyPoint CLO I, Ltd.5.13% floating · due 2038-07-20 | 0.50% | $20.06M | — |
| — | Babson CLO Ltd4.80% floating · due 2035-01-18 | 0.50% | $20.01M | — |
| — | Kennedy Lewis CLO Ltd0.00% floating · due 2037-04-22 | 0.50% | $19.86M | — |
| — | JPN BANK FOR INT'L COOP2.88% · due 2027-06-01 | 0.49% | $19.76M | — |
| — | CPS Auto Trust10.72% · due 2030-11-15 | 0.49% | $19.70M | — |
Top 10 positions are 8.58% of net assets, top 25 15.11%, across 350 issuers.
See more of this fund's book
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