PGIM Floating Rate Income ETF

PFRL

Market cap $106M

The PGIM Floating Rate Income ETF targets senior floating rate loans, offering exposure to leveraged corporate credit. PFRL's portfolio is 70% bank loans, 14% corporates, and 8% ABS, emphasizing non-traditional fixed income diversification. With a 30-day SEC yield of 5.7%, PFRL's income potential is pressured by anticipated Fed rate cuts.

PGIM Floating Rate Income ETF offers high current income and potential capital appreciation by investing primarily in senior floating rate loans. The PFRL ETF's portfolio is diversified, consisting mostly of bank loans, and has outperformed peers with a YTD return of over 8% and a one-year total return of 10.76%. Despite potential rate cuts, PFRL remains attractive due to its ability to adjust loan rates and maintain stable NAV, making it a compelling income investment.