Panagram BBB-B CLO ETF
CLOZ
Market cap $462M

26.69 USD

+0.03

0.11%

At close Oct 11, 4:00 PM EDT

After hours

26.99

+0.30

1.12%

1 day

0.11%

5 days

0.23%

1 month

-0.45%

3 months

-0.71%

6 months

-0.07%

Year to date

0.64%

1 year

2.22%

5 years

6.12%

0

Funds holding %

of 6,740 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

667% more first-time investments, than exits

New positions opened: 23 | Existing positions closed: 3

275% more repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 4

83% more funds holding

Funds holding: 24 [Q1] → 44 (+20) [Q2]

38% more capital invested

Capital invested by funds: $153M [Q1] → $210M (+$57.6M) [Q2]

10.94% less ownership

Funds ownership: 64.07% [Q1] → 53.13% (-10.94%) [Q2]

20% less funds holding in top 10

Funds holding in top 10: 5 [Q1] → 4 (-1) [Q2]

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Research analyst outlook

We haven’t received any recent analyst ratings for CLOZ.

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Financial journalist opinion

CLOZ: Collecting A Higher Yield With Less Risk

Panagram's Bbb-B Clo ETF offers a high yield through BBB and BB-rated debt, aiming for capital preservation and high current income with a 9% dividend yield. CLOZ's net investment income comfortably covers distributions by itself, without relying on net realized gains. There is no risk of a dividend cut at the moment. The main risk is borrower defaults, influenced by interest rates; however, historical default rates for CLOs have been low, even during financial crises.

CLOZ: Collecting A Higher Yield With Less Risk

CLO ETFs in Focus: Virtus, Blondbloxx, Nuveen Plot Entrance

Several firms are planning to launch collateralized loan obligation (CLO) ETFs, enhancing options for investors. CLOs have provided attractive risk-adjusted returns over the past decade, especially when compared to other fixed income investments.

CLO ETFs in Focus: Virtus, Blondbloxx, Nuveen Plot Entrance

CLO Debt ETFs Or CLO Equity CEFs: Which Are Best For Income Investors And Retirees

CLOs have several tranches. Equity tranches are the riskiest ones, but also have the highest yields, and strongest potential returns. Debt tranches are safer and lower-yielding, some significantly so, some moderately so.

CLO Debt ETFs Or CLO Equity CEFs: Which Are Best For Income Investors And Retirees

CLOs In The Current Market Selloff

Equities are down, due to bearish sentiment, mediocre economic news, and the unwinding of the Japanese carry trade. High-yield bonds and senior loans are seeing some pain too, albeit much reduced. CLO ETFs keep chugging along, without significant losses or underperformance.

CLOs In The Current Market Selloff

Is CLO Outperformance Set To Continue?

CLO ETF performance has been outstanding these past few years. Most have seen below-average drawdowns, significant dividend growth, and massive outperformance with above-average yields. Yields range from 6.4% to 8.9%, and that is without leverage or excessive credit risk.

Is CLO Outperformance Set To Continue?

Fixed Income ETFs Support Range of Advisor Objectives

In the first half of 2024, fixed income ETFs represented 29% of the U.S. industry's flows. This is encouraging as the asset category represents just 18% of the asset base.

Fixed Income ETFs Support Range of Advisor Objectives

CLOZ: 4 Reasons Why I Am Bullish

Panagram BBB-B CLO ETF invests in below investment grade CLOs with a focus on BBB-B ratings for high-income and capital preservation. CLOZ is a unique product offering that has significant exposure to BB rated CLOs. BBB and BB rated CLOs are currently attractive relative to similar risk corporate securities.

CLOZ: 4 Reasons Why I Am Bullish

3 Strong, Little-Known Income ETFs

Some income ETFs offer high yields and strong value propositions, but fly under the radar of most investors. I've identified three such ETFs: RISR, HYGH and CLOZ. These offer yields in the 7% - 9% range, have outperformed since inception, and get little coverage at Seeking Alpha.

3 Strong, Little-Known Income ETFs

3 Strong Income ETFs, With +8.0% Yields

BIZD, CEFS, and CLOZ are three income ETFs offering investors strong, above-average yields, in the 8.4%-10.5% range. BIZD has the highest yield but is quite risky. CLOZ has the lowest yield, with low realized volatility, but some liquidity risks. CEFS is somewhere in between. All are strong, albeit somewhat risky, choices.

3 Strong Income ETFs, With +8.0% Yields

JBBB Vs. CLOZ: Which High-Yield CLO ETF Is Best For Income Investors?

JAAA and JBBB are both actively-managed ETFs investing in senior loan CLO tranches. JBBB focuses on BBB-rated tranches, CLOZ an even mix of BBB and BB. Both funds are broadly similar, with strong yields and performance track-records, and low volatility. There are some important differences between these, however.

JBBB Vs. CLOZ: Which High-Yield CLO ETF Is Best For Income Investors?

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