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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.
By Michael Venuto Week of May 16, 2022 KPI Summary This week, the industry experienced 13 ETF launches and 1 closure, shifting the 1-year Open-to-Close ratio to 5.40 and total US ETFs to 2,945. ETF assets continue to trend down and haven't been current levels since Spring 2021.
PGIM Investments continues to build out its actively managed fixed income ETF lineup with the launch of the PGIM Floating Rate Income ETF (NYSE Arca: PFRL). The new ETF, which seeks to maximize current income by investing primarily in senior floating rate loans, is managed by PGIM Fixed Income, a leveraged finance manager with $38 billion in [.
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Transcripts source: company-published earnings calls. Speaker attribution and formatting are processed in-app.