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ETFs

Panagram BBB-B CLO ETF

CLOZ
$--
Today’s Change
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Snapshot
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Inception Date
Jan 23 2023
Expense Ratio
0.50%
Type
US Bonds
Fund Owner
Panagram
Volume (1m avg. daily)
$776,004
AUM
$88,649,560
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

n/a
BAIN CAPITAL CREDIT CLO 2022-6 E 14.0956% 10/22/2035
5.72%
n/a
OCTAGON LTD 2022-62 13.0761% 01/20/2036
5.11%
n/a
Cash & Other
4.90%
n/a
AGL CLO LTD 2022-23 14.0761% 01/20/2036
3.45%
n/a
CARLYLE US CLO LTD 2022-5 13.768% 10/15/2035
2.75%
n/a
NEUBERGER BN LN ADV CLO 37R 11.3378% 07/20/2031
2.47%
n/a
MADISON PARK FDG 2020 LTD 13.0417% 01/19/2034
2.27%
n/a
BENEFIT STR PTNRS CLO 2022-29 E 13.1612% 01/25/2036
2.27%
n/a
DRYDEN CLO LTD 2022-112 10.3846% 08/15/2034
2.26%
n/a
BARINGS CLO LTD 2019-IV 12.9596% 01/15/2033
2.26%
Invest with CLOZ

What is CLOZ?

Panagram BBB-B CLO ETF seeks to generate current income, with a secondary objective of capital preservation. The Fund is an actively-managed exchange-traded fund ("ETF") that pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings made for investment purposes) in collateralized loan obligations ("CLOs") that are rated, at the time of purchase, between BBB+ and B- or an equivalent rating by a nationally recognized statistical rating organization ("NRSRO"). CLOs are structured products with a "long-only" investment strategy (i.e., a strategy that does not include short positions) that issue multiple tranches of asset-backed securities. CLOs are collateralized by a pool of loans, which may include, among others, senior secured loans, senior unsecured loans, and subordinate corporate loans. The Fund intends to invest primarily in BBB and BB-rated tranches of CLOs and is expected to have significant exposure (up to 70% of its total assets) in CLO tranches rated below investment grade often referred to as "high-yield" or "junk" bonds.

ETFs related toCLOZ

ETFs correlated to CLOZ include CLOI, MINT, PULS

CLOZ
Series Portfolios Trust - Panagram BBB-B CLO ETF
CLOI
VanEck ETF Trust - VanEck CLO ETF
MINT
Pimco Exchange Traded Fund - PIMCO Enhanced Short Maturity Active Exchange-Traded Fund
PULS
PGIM ETF Trust - PGIM Ultra Short Bond ETF
FLRT
Pacer Funds Trust - Pacer Pacific Asset Floating Rate High Income ETF
JAAA
Janus Capital Management LLC - Janus Henderson AAA CLO ETF
JBBB
Janus Detroit Street Trust - Janus Henderson B-BBB CLO ETF
VNLA
Janus Capital Management LLC - Janus Henderson Short Duration Income ETF
CSHI
NEOS ETF Trust - NEOS Enhanced Income Cash Alternative ETF
HIGH
Simplify Exchange Traded Funds - Simplify Enhanced Income ETF
XBIL
Rbb Fund Inc - US Treasury 6 Month Bill ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

CLOZ is a US Bonds ETF. Panagram BBB-B CLO ETF seeks to generate current income, with a secondary objective of capital preservation. The Fund is an actively-managed exchange-traded fund ("ETF") that pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings made for investment purposes) in collateralized loan obligations ("CLOs") that are rated, at the time of purchase, between BBB+ and B- or an equivalent rating by a nationally recognized statistical rating organization ("NRSRO"). CLOs are structured products with a "long-only" investment strategy (i.e., a strategy that does not include short positions) that issue multiple tranches of asset-backed securities. CLOs are collateralized by a pool of loans, which may include, among others, senior secured loans, senior unsecured loans, and subordinate corporate loans. The Fund intends to invest primarily in BBB and BB-rated tranches of CLOs and is expected to have significant exposure (up to 70% of its total assets) in CLO tranches rated below investment grade often referred to as "high-yield" or "junk" bonds.

Yes, CLOZ is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, CLOZ is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on CLOZ is 0.015%. This is the percent change in the value of CLOZ over the most recent 1-month period. The 3-month return on CLOZ is 0.0595%. This is the percent change in the value of CLOZ over the most recent 3-month period.

ETFs similar to CLOZ include CMBS, PAAA, and CLOX.

ETFs correlated to CLOZ include CLOI, MINT, and PULS.

ETFs that are inversely correlated to CLOZ include VRIG, VRP, and FPEI.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.