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ETFs

PGIM Floating Rate Income ETF

PFRL
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
May 17 2022
Expense Ratio
0.72%
Type
Global Bonds
Fund Owner
PGIM Investments
Volume (1m avg. daily)
$269,777
AUM
$70,834,162
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

n/a
PRUDENTIAL CORE GOV MM FU
4.56%
n/a
JPMorgan Chase & Co. - FXDFR PRF PERPETUAL USD 1000 - Ser HH
4.15%
BCCL5608901
BCC 2023-3A B 7/36
0.89%
n/a
CHARTER COMM OPE 02/01/27
0.80%
n/a
CITI CAC BALANCE
0.75%
n/a
INTELSAT JACKSON 02/01/29
0.74%
n/a
Wells Fargo & Co. - FXDFR PRF PERPETUAL USD 1000
0.72%
GS5287988
Goldman Sachs Group, Inc. Depositary Shs Repr 1/25th Fix/Fltg Non-Cum Red Perp Pfd Rg Shs Ser V
0.71%
n/a
ICG 2023-1A B 7/36
0.71%
n/a
PILOT TRAVEL 07/29/28
0.70%
Invest with PFRL

What is PFRL?

Under normal market conditions, the Fund invests at least 80% of its investable assets (net assets plus borrowings for investment purposes, if any) in floating rate loans and other floating rate debt securities. Floating rate loans and other floating rate debt obligations have interest rates which adjust or "float" periodically (normally on a monthly or quarterly basis) based on a generally recognized base rate such as the London Interbank Offered Rate ("LIBOR"), the Secured Overnight Financing Rate ("SOFR") or the prime rate offered by one or more major U.S. banks. Floating rate loans (often referred to as "bank loans") are arranged through private negotiations between a corporation or other institution that is the borrower and one or more financial institutions that are the lenders. The Fund is an actively managed exchange-traded fund ("ETF") and, thus, does not seek to replicate the performance of a specified index.

ETFs related toPFRL

ETFs correlated to PFRL include LONZ, BKLN, CVRD

PFRL
PGIM ETF Trust - PGIM Floating Rate Income ETF
LONZ
Pimco Exchange Traded Fund - PIMCO Senior Loan Active ExchangeTraded Fund
BKLN
Invesco Capital Management LLC - Invesco Senior Loan ETF
CVRD
Madison ETFs Trust - Madison Covered Call ETF
GAUG
First Trust Exchange-Traded Fund VIII - FT Cboe Vest U.S. Equity Moderate Buffer ETF - August
FTSL
First Trust Exchange-Traded Fund III - First Trust Senior Loan Fund ETF
SRLN
SSgA Active Trust - SPDR Blackstone Senior Loan ETF
FLBL
Franklin Templeton ETF Trust - Franklin Senior Loan ETF
XAUG
First Trust Exchange-Traded Fund VIII - FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - August
HYBL
SSgA Active Trust - SPDR Blackstone High Income ETF
PCEF
Invesco Capital Management LLC - Invesco CEF Income Composite 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
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Create your own algorithmic trading strategy with PFRL using Composer

FAQ

PFRL is a Global Bonds ETF. Under normal market conditions, the Fund invests at least 80% of its investable assets (net assets plus borrowings for investment purposes, if any) in floating rate loans and other floating rate debt securities. Floating rate loans and other floating rate debt obligations have interest rates which adjust or "float" periodically (normally on a monthly or quarterly basis) based on a generally recognized base rate such as the London Interbank Offered Rate ("LIBOR"), the Secured Overnight Financing Rate ("SOFR") or the prime rate offered by one or more major U.S. banks. Floating rate loans (often referred to as "bank loans") are arranged through private negotiations between a corporation or other institution that is the borrower and one or more financial institutions that are the lenders. The Fund is an actively managed exchange-traded fund ("ETF") and, thus, does not seek to replicate the performance of a specified index.

Yes, PFRL 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, PFRL 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 PFRL is 0.0147%. This is the percent change in the value of PFRL over the most recent 1-month period. The 3-month return on PFRL is 0.0384%. This is the percent change in the value of PFRL over the most recent 3-month period.

The standard deviation of PFRL for the past year is 0.0399%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to PFRL include GVI, BLV, and BSV.

ETFs correlated to PFRL include LONZ, BKLN, and CVRD.

ETFs that are inversely correlated to PFRL include HIBS, SRTY, and TWM.

Disclaimers

*

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.