CLOIVanEck CLO ETF
Fund Description
The VanEck CLO ETF (CLOI) is an actively managed ETF, sub-advised by PineBridge Investments, seeking capital preservation and current income. It invests primarily in investment grade-rated tranches of collateralized loan obligations (“CLOs”) of any maturity.
-
Fund Ticker
CLOI -
Exchange
NYSE Arca -
Inception Date
06/21/2022 -
ETF Structure
Physical -
Administrator
Van Eck Associates
as of 08/09/22
-
30-Day SEC Yield1
3.85% -
Total Net Assets
$25.3M -
Number of Holdings
18 -
Options
No -
Gross Expense Ratio2
0.40% -
Net Expense Ratio/TER2
0.40% -
Distribution Frequency
Monthly -
Next Distribution Date
08/31/2022
Key Points
- Portfolio of investment grade floating rate CLOs with limited exposure to rising rates
- Yield pickup versus similarly rated corporate bonds and loans with built-in protection against credit loss**
- Actively managed by PineBridge, drawing on decades of CLO experience
Yield
as of 08/09/22
-
30-Day SEC Yield1
3.85% -
Distribution Yield1
3.61% -
12-Month Yield1
0.30%
Fees & Expenses2
-
Management Fee
0.40% -
Other Expenses
0.00% -
Gross Expense Ratio
0.40% -
Net Expense Ratio/TER2
0.40%
2
Trading Information
-
Fund Ticker
CLOI -
NAV
CLOINV -
Shares Outstanding
500,000 -
Estimated Cash
CLOIEU -
Total Cash
CLOITC -
CUSIP
92189H748 -
ISIN
US92189H7483
Fundamentals4 as of 08/09/22
-
Yield to Worst
5.50% -
Yield to Maturity
5.50% -
Spread Duration(Yrs)
5.36 -
Weighted Average Life
6.42 -
Coupon
4.28% -
Discount Margin
255
Investment Professionals
Fran Rodilosso
- Head of Fixed Income ETF Portfolio Management
- Responsible for portfolio strategies as well as credit and market analysis; specializes in international bond markets
- Joined VanEck in 2012
- Prior to VanEck, Managing Director of Global Emerging Markets with The Seaport Group; launched the firm’s emerging markets fixed income sales and trading business
- Previously, held portfolio management positions at Greylock Capital and Soundbrook Capital; focused on corporate high-yield and distressed bonds with an emphasis on emerging markets
- CFA charterholder; member of CFA Society New York
- MBA (with distinction), Finance, University of Pennsylvania
- AB, History, Princeton University
Laila Kollmorgen
- Joined PineBridge Investments in 2015
- Responsible for managing the investments in Collateralized Loan Obligations (“CLOs”) issued by third-party managers
- Prior to PineBridge Investments, Managing Director, Head of European Structured Products Trading at Raymond James Financial in London
- Previously, Head of European ABS/CDO Syndicate & Trading at Cohen & Company Securities LLP and advised Commerzbank on US & European securitized product portfolios
- CFA charterholder
- MBA, The Wharton School of the University of Pennsylvania
- MA, Joseph H. Lauder Institute, University of Pennsylvania
- BA, Wellesley College
Performance History: Average Annual Total Returns* (%)
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR |
LIFE 06/21/22 |
|
---|---|---|---|---|---|---|---|---|
CLOI (NAV) | 0.64 | -- | -- | -- | -- | -- | -- | 0.72 |
CLOI (Share Price) | 0.22 | -- | -- | -- | -- | -- | -- | 0.66 |
J.P. Morgan Collateralized Loan Obligation Index | 0.58 | -- | -- | -- | -- | -- | -- | 0.35 |
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR |
LIFE 06/21/22 |
|
---|---|---|---|---|---|---|---|---|
CLOI (NAV) | -- | -- | -- | -- | -- | -- | -- | 0.08 |
CLOI (Share Price) | -- | -- | -- | -- | -- | -- | -- | 0.44 |
J.P. Morgan Collateralized Loan Obligation Index | -- | -- | -- | -- | -- | -- | -- | -0.22 |
Top 10 Holdings (%) as of 07/31/22 Daily Holdings
to view
full data
Holding Name |
Coupon
|
Maturity |
Country‡
|
Currency
|
% of Net Assets |
---|---|---|---|---|---|
Ares Lxi Clo Ltd |
2.713 |
10/20/2034 |
United Kingdom |
USD |
10.43 |
Dryden 93 Clo Ltd |
2.644 |
01/15/2034 |
United Kingdom |
USD |
6.68 |
Ocp Clo 2020-19 Ltd |
2.763 |
10/20/2034 |
United Kingdom |
USD |
6.61 |
Cedar Funding Viii Clo Ltd |
2.694 |
10/17/2034 |
United Kingdom |
USD |
6.56 |
Bain Capital Credit Clo 2021-4 Ltd |
2.713 |
10/20/2034 |
United Kingdom |
USD |
6.55 |
Gulf Stream Meridian 1 Ltd |
2.414 |
04/15/2033 |
United Kingdom |
USD |
4.89 |
Elmwood Clo 15 Ltd |
1.981 |
04/22/2035 |
United Kingdom |
USD |
4.87 |
Gulf Stream Meridian 4 Ltd |
2.244 |
07/15/2034 |
United Kingdom |
USD |
4.85 |
Ocp Clo 2021-22 Ltd |
2.243 |
12/02/2034 |
United Kingdom |
USD |
4.83 |
Goldentree Loan Opportunities Ix Ltd |
2.539 |
10/29/2029 |
United Kingdom |
USD |
4.82 |
Top 10 Total (%) | 61.09 |
These are not recommendations to buy or to sell any security. Securities and holdings may vary.
Credit Quality (%)† as of 07/31/22
Composite | % of Net Assets | |
---|---|---|
Investment Grade | AAA | 29.32 |
AA | 46.88 | |
BBB | 14.06 | |
Total Investment Grade | -- | 90.26 |
Not Rated | -- | 9.74 |
Currency Exposure (%)
as of 07/31/22
-
U.S. Dollar
98.99 -
Other/Cash
1.01
Maturity (%) as of 07/31/22
Average Portfolio Maturity: 11.21 Years