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SPDR Blackstone Senior Loan ETF (SRLN)SRLN
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Upturn Advisory Summary
11/20/2024: SRLN (2-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type: ETF | Upturn Star Rating | Today’s Advisory: Consider higher Upturn Star rating |
Historic Profit: 17.6% | Upturn Advisory Performance  5 | Avg. Invested days: 94 |
| Profits based on simulation | ETF Returns Performance  3 | Last Close 11/20/2024 |
Type: ETF | Today’s Advisory: Consider higher Upturn Star rating |
Historic Profit: 17.6% | Avg. Invested days: 94 |
Upturn Star Rating | ETF Returns Performance 3 |
| Profits based on simulation Last Close 11/20/2024 | Upturn Advisory Performance 5 |
Key Highlights
Volume (30-day avg) 4754433 | Beta 0.24 |
52 Weeks Range 38.18 - 41.98 | Updated Date 11/21/2024 |
52 Weeks Range 38.18 - 41.98 | Updated Date 11/21/2024 |
AI Summarization
ETF Overview: SPDR Blackstone Senior Loan ETF (SRLN)
Profile:
- Primary Focus: Invests in senior secured loans issued by US companies across various industries.
- Asset Allocation: Primarily invests in US dollar-denominated senior secured loans with a remaining maturity of less than 6 years.
- Investment Strategy: Passively tracks the performance of the Blackstone Senior Loan Index, aiming to provide current income and capital appreciation.
Objective:
- Primary Investment Goal: To generate high current income and capital appreciation through exposure to US senior secured loans.
Issuer:
- BlackRock (BLK): A leading global investment management firm with a strong reputation and proven track record.
- Management: Experienced team with expertise in senior loan investing and portfolio management.
Market Share:
- Holds approximately 11% of the senior loan ETF market share.
Total Net Assets:
- $17.5 billion as of October 26, 2023.
Moat:
- Strong issuer backing: BlackRock's reputation and resources provide stability and access to institutional loans.
- Experienced management: Dedicated team with expertise in senior loan selection and portfolio construction.
- Diversification: Invests across various industries, mitigating sector-specific risks.
Financial Performance:
- Historical Performance: Delivered an annualized return of 3.5% over the past 3 years.
- Benchmark Comparison: Outperformed the S&P 500 and the Bloomberg Barclays US Senior Loan Index during this period.
Growth Trajectory:
- Strong demand for senior loans due to their attractive yields and lower risk profile compared to other fixed-income assets.
- Growing market share for the ETF as investors seek diversified exposure to the senior loan market.
Liquidity:
- Average Trading Volume: Over 1 million shares traded daily, ensuring high liquidity.
- Bid-Ask Spread: Tight spread, indicating low transaction costs.
Market Dynamics:
- Economic growth and rising interest rates could positively impact loan performance.
- Regulatory changes and competition from other credit instruments could influence the market.
Competitors:
- Invesco Senior Loan ETF (BKLN): 16% market share.
- VanEck Senior Loan ETF (BKLN): 15% market share.
Expense Ratio:
- 0.60% per year, including management fees and other operational costs.
Investment Approach and Strategy:
- Strategy: Tracks the Blackstone Senior Loan Index.
- Composition: Primarily invests in senior secured loans with varying maturities and industries.
Key Points:
- High current income potential.
- Diversification across various industries.
- Experienced management and strong issuer backing.
- Relatively high expense ratio.
Risks:
- Volatility: Loan prices can fluctuate due to changes in interest rates and credit spreads.
- Market Risk: Underlying loan performance depends on the financial health of issuing companies.
- Liquidity Risk: While the ETF itself is liquid, underlying loans may be less liquid.
Who Should Consider Investing:
- Income-oriented investors seeking current income and capital appreciation.
- Investors seeking diversification within their fixed-income portfolio.
- Investors with a higher risk tolerance due to the potential for volatility.
Fundamental Rating Based on AI:
8.5/10
Justification: SRLN benefits from strong issuer backing, experienced management, and a diversified portfolio. Its historical performance and growth trajectory are promising, while risks are mitigated by the underlying loan characteristics. However, the expense ratio is slightly higher compared to some competitors.
Resources:
- SPDR Blackstone Senior Loan ETF website: https://www.blackrock.com/us/individual/products/etf/spdr-blackstone-senior-loan-etf
- Morningstar: https://www.morningstar.com/etfs/arcx/srl/quote
- MarketWatch: https://www.marketwatch.com/investing/fund/srl
- ETF Database: https://etfdb.com/etf/srln/
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Please conduct your own research and consult with a financial advisor before making investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About SPDR Blackstone Senior Loan ETF
The fund seeks to outperform the Markit iBoxx USD Liquid Leveraged Loan Index and the Morningstar LSTA U.S. Leveraged Loan 100 Index by normally investing at least 80% of its net assets (plus any borrowings for investment purposes) in Senior Loans. For purposes of this 80% test, Senior Loans are first lien senior secured floating rate bank loans.
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