BKLN - PowerShares Senior Loan ETF

NYSEArca - NYSEArca Delayed Price. Currency in USD
+0.01 (+0.06%)
At close: 4:00PM EDT
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Previous Close23.03
Bid0.00 x 46000
Ask0.00 x 3000
Day's Range23.03 - 23.04
52 Week Range22.96 - 23.32
Avg. Volume4,006,454
Net Assets8.26B
PE Ratio (TTM)N/A
YTD Return1.54%
Beta (3y)0.10
Expense Ratio (net)0.63%
Inception Date2011-03-03
Trade prices are not sourced from all markets
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    Senior Loan ETFs: Rewards and Risks

    Due to their floating rate component, bank loans are seen as an attractive alternative to traditional high-yield corporate bonds in a rising rate environment. Bank loan securities allow their interest rate to shift, or float, along with the rest of the market, whereas a fixed interest rate stays constant until maturity. Investors, though, should not forget that senior bank loans are denoted high-yield because the issuing firms are highly leveraged, and highly leveraged companies are more at risk of default and bankruptcy.

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  • Morningstar10 days ago

    Senior Loan Funds' Low Interest-Rate Risk, Enticing Yields Come With Risks

    In today's rising-interest-rate environment, senior loan funds' low-interest-rate risk and enticing yields have made them alluring. Senior loans' yields go up in lock step with short-term interest rates, offering an effective duration hedge, but they come with significant credit risks, as most of these loans are issued by companies rated below investment grade. Since 2010, their credit risk has gradually crept up.

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    The PowerShares Senior Loan Portfolio (BKLN), an exchange-traded fund, would seem to be ideal for investors worried about rising interest rates. Bank loans are adjustable-rate securities with coupons pegged to the London interbank offered rate, or Libor, a benchmark of short-term rates for loans maturing within one year. Libor rates have moved up as the Federal Reserve has raised short-term rates over the past year: One-month Libor is now about 1.7%, up from 0.8% a year ago. Part of the problem is that loan coupons don’t change until Libor surpasses certain levels, notes Peebles.

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