Fund Evaluator:
Lord Abbett Bond-Debenture C (BDLAX)
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Best Performing in Multisector Bond Over the Last Year
| 7.1% | Morningstar Multisector Bond (MSTMX) |
| 6.0% | Fidelity Advisor Strategic Income Z (FIWDX) |
| 5.4% | Russell Inv Opportunistic Credit Y (RGCYX) |
| 5.4% | Russell Inv Opportunistic Credit M (RGOTX) |
| 5.2% | Payden Managed Income SI (PKBIX) |
Fund Details
Lord Abbett Bond-Debenture C Overview
Lord Abbett Bond-Debenture C (BDLAX) is an actively managed Taxable Bond Multisector Bond fund. Lord Abbett launched the fund in 1996.
The investment seeks high current income and the opportunity for capital appreciation to produce a high total return. To pursue its objective, under normal conditions, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in bonds, debentures and other fixed income securities. It may invest a substantial portion of its net assets in high-yield securities (commonly referred to as "below investment grade" or "junk" bonds). The fund may invest up to 20% of its net assets in equity securities, including common stocks, preferred stocks, convertible preferred stocks, and similar instruments.
About Lord Abbett Bond-Debenture C (BDLAX)
There are 6 members of the management team with an average tenure of 10.08 years: Steven Rocco (2014), Robert Clark (2015), Christopher Gizzo (2013), Eric Kang (2025), Andrew O'Brien (2014), Robert Lee (2013). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA US HY Constnd TR USD index with a weighting of 100%. Lord Abbett Bond-Debenture C has 910 securities in its portfolio. The top 10 holdings constitute 8.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Lord Abbett Bond-Debenture C is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Lord Abbett Bond-Debenture C has 29.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 4.3%. There is 1.1% allocated to foreign stock, and 1.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 92.2% (63.6% domestic bond, 28.6% foreign bond and 0.0% convertible bond). Lord Abbett Bond-Debenture C has 1.5% of the portfolio in cash.
Assets Under Management
The fund has $483 million in total assets, which is below the $1 billion average for the Multisector Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BDLAX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Lord Abbett Bond-Debenture C expense ratio is high compared to funds in the Multisector Bond category. Lord Abbett Bond-Debenture C has an expense ratio of 1.59%, which is 69% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. A portfolio turnover rate cannot be currently calculated for Lord Abbett Bond-Debenture C. By way of comparison, the average portfolio turnover is 162% for the Multisector Bond category.
Recently, in the month of July 2026, Lord Abbett Bond-Debenture C returned -1.2%, which earned it a grade of F, as the Multisector Bond category had an average return of -0.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Lord Abbett Bond-Debenture C has a trailing yield of 5.54%, which is above the 5.31% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Lord Abbett Bond-Debenture C Grades
Year to date, the fund has returned 0.2%, 0.7 percentage points worse than the category, which translates into a grade of D. The fund has returned 4.1% over the past year (grade of C), 5.9% over the past three years (grade of D) and 1.0% per year over the past five years (grade of F) and 3.4% per year over the past 10 years (grade of D).
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BDLAX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BDLAX Return (NAV) | -1.2% | -0.9% | 4.1% | 5.9% | 1.0% | 3.4% |
| BDLAX Grade | F | F | C | D | F | D |
| +/- Category | -0.5% | -0.9% | -0.2% | -0.4% | -1.4% | -0.1% |
| Multisector Bond Avg | -0.7% | 0.0% | 4.3% | 6.3% | 2.4% | 3.5% |
| BDLAX Tax Cost Ratio | na | na | 2.2% | 2.1% | 1.9% | 1.8% |
BDLAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BDLAX Return (NAV) | 0.2% | 7.7% | 6.1% | 6.2% | -13.2% | 2.6% | 6.8% | 12.8% | -4.4% | 8.5% | 11.6% |
| BDLAX Grade | D | C | C | F | F | C | C | A | F | A | A |
| +/- Category | -0.7% | -0.4% | 0.4% | -2.2% | -3.1% | 0.4% | 0.4% | 2.5% | -2.5% | 1.9% | 4.1% |
| Multisector Bond Avg | 0.9% | 8.1% | 5.7% | 8.4% | -10.1% | 2.2% | 6.3% | 10.3% | -1.9% | 6.6% | 7.5% |
| Risk Measures | |
| Standard Deviation: | 5.0% |
| Total Risk Index: | 0.41 - Low |
| Category Risk Index: | 1.11 - Above Average |
| Category Risk Grade: | D (69% Rank) |
| Beta: | 0.76 |
| R-Squared: | 74% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | Medium Quality Limited Sensitivity |
| Yield: | 5.5% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $23301 Mil |
| Fund Total Assets: | $ 484 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | na |
Management Team
| Number of Managers: 6 | |||
| Longest Tenure: 12.6 years | |||
| Average Tenure: 10.1 years | |||
| Managers (Year): Gizzo Christopher (2013), Lee Robert (2013), Rocco Steven (2014), O'Brien Andrew (2014), Clark Robert (2015), Kang Eric (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 910 |
| % in Top 10 Holdings: | 8.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 29.7% |
Portfolio Allocation |
|
| Domestic Stock: | 4.3% |
| Foreign Stock: | 1.1% |
| Preferred Stock: | 1.0% |
| Domestic Bond: | 63.6% |
| Foreign Bond: | 28.6% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.5% |
Purchase Information
| Fund Family: | Lord Abbett |
| Phone Number: | 888-522-2388 |
| Website: | www.lordabbett.com |
| Status: | Open |
| Inception Date: | July 15, 1996 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.83% |
Expenses and Fees | |
| Expense Ratio (%): | 1.59% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.94% |
| Share Class: | Lord Abbett Bond-Debenture A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
