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ETFs

Panagram BBB-B CLO ETF

CLOZ
$--
Today’s Change
-- (--)

Snapshot
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Inception Date
Jan 23 2023
Expense Ratio
0.50%
Type
US Bonds
Fund Owner
Panagram
Volume (1m avg. daily)
$985,060
AUM
—
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

n/a
Cash & Other
9.36%
n/a
BAIN CAPITAL CREDIT CLO 2022-6 E 13.4035% 10/22/2035
7.41%
n/a
OCTAGON LTD 2022-62 12.313% 01/22/2036
3.66%
n/a
CARLYLE US CLO LTD 2022-5 13.1176% 10/15/2035
3.54%
n/a
NEUBERGER BN LN ADV CLO 37R 10.5577% 07/21/2031
2.99%
n/a
AGL CLO LTD 2022-23 13.3315% 01/22/2036
2.98%
n/a
DRYDEN CLO LTD 2022-112 9.7808% 08/15/2034
2.91%
n/a
BENEFIT STR PTNRS CLO 2022-29 E 12.3906% 01/25/2036
2.91%
n/a
MADISON PARK FDG 2020 LTD 12.2576% 01/19/2034
2.86%
n/a
BARINGS CLO LTD 2019-IV 12.1824% 01/18/2033
2.75%
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 MINT, VNLA, PULS

CLOZ
Series Portfolios Trust - Panagram BBB-B CLO ETF
MINT
Pimco Exchange Traded Fund - PIMCO Enhanced Short Maturity Active Exchange-Traded Fund
VNLA
Janus Capital Management LLC - Janus Henderson Short Duration Income ETF
PULS
PGIM ETF Trust - PGIM Ultra Short Bond ETF
CLOI
VanEck ETF Trust - VanEck CLO ETF
NEAR
BlackRock Institutional Trust Company N.A. - BlackRock Short Maturity Bond ETF
JAAA
Janus Capital Management LLC - Janus Henderson AAA CLO ETF
FUMB
First Trust Exchange-Traded Fund III - First Trust Ultra Short Duration Municipal ETF
SHV
BlackRock Institutional Trust Company N.A. - iShares Short Treasury Bond ETF
JPST
J.P.Morgan Investment Management Inc. - JPMorgan Ultra-Short Income ETF
TBIL
Rbb Fund Inc - US Treasury 3 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.

Automated Strategies
Related toCLOZ

#OPUS-8

Opus-8

Category

Opus

Risk Rating

Conservative

#OPUS-12

Opus-12

Category

Opus

Risk Rating

Moderate

Create your own algorithmic trading strategy with CLOZ using Composer

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 -0.0168%. This is the percent change in the value of CLOZ over the most recent 1-month period. The 3-month return on CLOZ is %. This is the percent change in the value of CLOZ over the most recent 3-month period.

ETFs similar to CLOZ include AAA, FSEC, and CARY.

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

ETFs that are inversely correlated to CLOZ include AGZD, PFLD, and VRP.

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.