Lord Abbett Short Duration High Yield Fund
LORD ABBETT TRUST I · 9 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Lord Abbett Short Duration High Yield 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
Fund profile
As filed in the prospectus · 2025 Q4
The Funds investment objective is to seek a high current income and the opportunity for capital appreciation to produce a high total return.
The fund invests at least 80% of assets in high-yield debt securities rated BB/Ba or lower, selecting securities through bottom-up credit analysis with the goal of identifying lower-rated debt where credit risk is expected to decline. The fund manages interest rate risk by maintaining a weighted average duration of three years or less and may use derivatives to adjust interest rate exposure or enhance returns. Because security selection depends on the portfolio manager's assessment of individual issuers' credit trajectories and market conditions, results will diverge from any benchmark.
| Share class | Expense ratio |
|---|---|
| LSYUX | 0.38% |
| LSYTX | 0.45% |
| LSYSX | 0.70% |
| LSYQX | 0.95% |
| LSYAX | 0.65% |
| LSYIX | 0.45% |
| LSYNX | 0.38% |
| LSYFX | 0.55% |
| LSYCX | 1.39% |
| C000218941 | 1.05% |
Portfolio turnover 140.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 92.43% |
| Cash & short-term | 5.99% |
| Loans | 4.29% |
| Securitized | 0.99% |
| 2 smaller | 0.92% |
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Other | 42.9% |
| International | 23.2% |
| Financials | 6.3% |
| Cash | 5.5% |
| 12 smaller | 22.1% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: SV RNO PROPERTY OWNER 1, PARAMOUNT GLOBAL, VENTURE GLOBAL LNG INC, CORE SCIENTIFIC FINANCE, CARNIVAL CORP, MERIDIAN ARC HOLDCO LLC, DEXKO GLOBAL INC, ARDONAGH FINCO LTD
Largest exited: SM ENERGY CO, SOTHEBY'S, UNIVISION COMMUNICATIONS, CURALEAF HOLDING INC, RVR Dealership Holdings LLC, DORNOCH DEBT MERGER SUB, GGAM FINANCE LTD, BLUE OWL TECHNOLOGY FINA
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 |
|---|---|---|---|---|---|
| +10.81% | +30.06% | +30.98% | 3.69% | -2.75% | |
| +10.74% | +29.65% | +30.61% | 3.70% | -2.75% | |
| +10.44% | +28.68% | +28.97% | 3.69% | -2.79% | |
| +10.17% | +27.74% | +27.38% | 3.69% | -2.84% | |
| +10.52% | +29.04% | +29.32% | 3.70% | -2.79% | |
| +10.75% | +29.67% | +30.33% | 3.71% | -2.77% | |
| +10.81% | +30.05% | +31.15% | 3.69% | -2.74% | |
| +10.78% | +29.72% | +30.50% | 3.77% | -2.87% | |
| +9.72% | +26.29% | +24.81% | 3.68% | -2.91% |
These classes hold the same portfolio, so the 6.33pp spread over 5 years is the cost difference between them — roughly 1.27pp 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.
| Fixed rate | 93.7% |
| Floating rate | 5.7% |
| Zero-coupon or unclassified | 0.6% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.9% |
| 1-3y | 24.3% |
| 3-5y | 59.4% |
| 5-10y | 11.1% |
| 10y+ | 3.3% |
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 | 55% |
| Interest rates | 45% |
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 | +2.38 yr |
| Investment grade | +0.26 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 | 2% |
| 1 yr | 0.87 yr | 40% |
| 5 yr | 1.26 yr | 58% |
| 10 yr | 0.01 yr | 0% |
| 30 yr | 0.00 yr | 0% |
| 3 mo | 0.04 yr | 2% |
| 1 yr | 0.95 yr | 36% |
| 5 yr | 1.51 yr | 57% |
| 10 yr | 0.08 yr | 3% |
| 30 yr | 0.05 yr | 2% |
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 | +0.04 | $1.3k | $43.1k |
| 1 yr | +0.87 | +0.06 | +0.89 | $60.2k | $882.0k |
| 5 yr | +1.26 | +0.15 | +1.37 | $146.6k | $1.36m |
| 10 yr | +0.01 | +0.02 | +0.07 | $16.5k | $67.9k |
| 30 yr | +0.00 | +0.04 | +0.01 | $36.2k | $14.6k |
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 2.20 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.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | Fidelity Investments | 4.85% | $482.88M | — |
| — | NISSAN MOTOR CO7.50% · due 2030-07-17 | 0.59% | $58.98M | — |
| — | ONEMAIN FINANCE CORP6.63% · due 2028-01-15 | 0.59% | $58.82M | — |
| — | DIRECTV FIN LLC/COINC10.00% · due 2031-02-15 | 0.59% | $58.49M | — |
| — | NOVELIS CORP6.88% · due 2030-01-30 | 0.58% | $57.89M | — |
| — | VENTURE GLOBAL LNG INC9.50% · due 2029-02-01 | 0.56% | $55.71M | — |
| — | WULF COMPUTE LLC7.75% · due 2030-10-15 | 0.54% | $54.08M | — |
| — | Citibank NA | 0.54% | $53.65M | — |
| — | COREWEAVE INC9.25% · due 2030-06-01 | 0.51% | $50.24M | — |
| — | SV RNO PROPERTY OWNER 15.88% · due 2031-03-01 | 0.49% | $48.38M | — |
Top 10 positions are 9.84% of net assets, top 25 16.29%, across 512 issuers.
See more of this fund's book
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