Invesco Senior Loan Portfolio (BKLN) – Rationale: relative ETF liquidity, passively tracks the larger loans which typically have deeper secondary market trading. An important plus: options are available for hedging purposes
First Trust Senior Loan (FTSL) – Rationale: Similar results to BKLN however with higher fees. Not as liquid as BKLN as measured by total $ value traded
Highland iBoxx Senior Loan (SNLN): Rationale: comparative lower ETF liquidity even though this ETF has been in existence since November 2012.
Author’s note: Evidence for or against active or passive investing in over the counter and less liquid asset classes can be highlighted here. Time will tell!
Senior Loan (Bank Loan) ETFs (Over $500million in Assets)
Assets Under Management. Data as of 8/6/2018 or as otherwise stated.
As of 6/30/2018.
Although actively managed, each ETF reports a benchmark and the performance difference is noted here. Tracking error is calculated using the ETF market value performance vs. index stated by fund sponsor.
Past performance of any investment product or index referenced in the Rieger Report is not an indication of or guarantee of future results.
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