If you've been stuck searching for Investment Grade - Bonds: Misc funds, consider Lord Abbett Income Fund A (LAGVX) as a possibility. LAGVX holds a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.

Objective

LAGVX is one of many Investment Grade - Bonds: Misc funds to pick from. Investment Grade - Bonds: Misc funds do not focus on one particular part of the curve and can also hold a wide range of investment grade credit levels. A fund's duration risk will depend on its individual investment profile, which means funds in this category are not always directly comparable. Of course, the focus on investment grade will make these funds safer, but yields will be lower than those in the junk bond category.

History of Fund/Manager

Lord Abbett is based in Jersey City, NJ, and is the manager of LAGVX. Since Lord Abbett Income Fund A made its debut in January of 1982, LAGVX has garnered more than $1.31 billion in assets. The fund's current manager is a team of investment professionals.

Performance

Obviously, what investors are looking for in these funds is strong performance relative to their peers. LAGVX has a 5-year annualized total return of 2.05% and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 2.57%, which places it in the bottom third during this time-frame.

It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.

When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. The standard deviation of LAGVX over the past three years is 8.25% compared to the category average of 13.2%. The standard deviation of the fund over the past 5 years is 7.55% compared to the category average of 12.86%. This makes the fund less volatile than its peers over the past half-decade.

With a beta of 0.9, this fund is less volatile than a broad market index of fixed income securities. Taking this into account, LAGVX has a positive alpha of 3.3, which measures performance on a risk-adjusted basis.

Expenses

For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, LAGVX is a load fund. It has an expense ratio of 0.71% compared to the category average of 0.91%. So, LAGVX is actually cheaper than its peers from a cost perspective.