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SRLN: 7% Floating-Rate Income Meets Rising CCC Stress
The State Street Blackstone Senior Loan ETF (SRLN) is rated 'hold' due to risk-off sentiment and elevated CCC credit spreads. SRLN offers a 7.3% distribution yield, investing 80% in first-lien senior secured floating-rate loans, with B-rated debtors comprising 67.44%. Technical signals show SRLN trading below short- and medium-term moving averages, with low volatility but limited upside in the current environment.
Rising Rates Hurt Most Bond ETFs. This Senior Loan ETF Gets a Raise Instead
Most bonds lose value when interest rates climb, but one corner of the loan market is wired differently. Understanding why requires a close look at how these loans are structured and what that structure actually costs you.
The Hidden Cost of SRLN's Floating Rate Loans When Interest Rates Keep Falling
The SPDR Blackstone Senior Loan ETF (NYSEARCA:SRLN) pays monthly, and that monthly check is the entire reason most investors own it.
SPDR Blackstone Senior Loan ETF Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| TJD Thomas John Drogan PR Inc.IPAL SECURITIES Inc. | 99,915 | $4.11M | $4.01M | -$97,615.97 | -2.38% |
| DI David Izzi Brown, LISLE/CUMMINGS Inc. | 7,107 | $297,573.37 | $284,564.28 | -$13,009.09 | -4.37% |
| BZ Brandon Zatopek Commonwealth Equity Services LLC | 215,406 | $8.68M | $8.62M | -$56,004.04 | -0.65% |
| RG Rafael Guijarro City National Bank Of Florida /MSD | 105,545 | $4.34M | $4.23M | -$105,863.03 | -2.44% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 35,525 | $1.47M | $1.42M | -$48,076.69 | -3.27% |
SPDR Blackstone Senior Loan ETF (SRLN) FAQ
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SPDR Blackstone Senior Loan ETF Profile
| ARCA Exchange | US Country |
Overview
The fund aims to exceed the performance of both the Markit iBoxx USD Liquid Leveraged Loan Index and the Morningstar LSTA U.S. Leveraged Loan 100 Index. It intends to achieve this by primarily investing a minimum of 80% of its net assets, alongside any borrowings for investment purposes, in Senior Loans. These are defined specifically as first lien senior secured floating rate bank loans. Such investments target higher ranks within the borrower's capital structure, potentially offering greater security compared to other forms of debt. The fund's strategy focuses on leveraging the fluctuating interest rate environment to maximize returns for investors through investments in these floating rate instruments.
Products and Services
- Senior Loans Investment
The fund dedicates at least 80% of its financial resources, plus any additional borrowed funds, to investing in Senior Loans. Senior Loans, as defined within the fund's investment criteria, refer to first lien senior secured floating rate bank loans. These instruments are typically secured by specific assets or revenues of the borrowing company and are prioritized over other types of debt in terms of repayment during default scenarios. The focus on Senior Loans aims to exploit their floating interest rates, which can adjust in response to market changes, thereby providing a hedge against inflation and a potential for higher yields in rising rate environments.
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