MAYORES RENDIMIENTOS CON CLO

For Professional Clients and Qualified Investors.

 

Capital at risk

 

Marketing material

 

If you've been hearing more about CLO ETFs and wondered what they are, you're not alone. Today, we’ll demystify this part of the bond market and share how bond ETFs are making it more accessible than ever.

 

So what exactly are CLOs, and is it true they sometimes spark debate?

 

[Maria] Let’s start with the basics!

 

CLO, or Collateralized Loan Obligation, is an investment vehicle backed by a pool of predominantly senior secured loans made to corporate borrowers. A CLO is split into tranches based on risk and return and then made available to investors. At the top is the AAA rated CLO tranche, the safest and most senior.

 

Sometimes CLOs get confused with CDOs (the collateralized debt obligations), tied to subprime mortgages before the 2008 financial crisis.

 

But here’s the key difference: CLOs are backed by corporate loans not consumer debt and proved far more resilient during market crises. More importantly, AAA CLO tranches have never defaulted, even during 2008 and 2020.

 

I will share another misconception, and it’s that CLOs are often seen as too risky for conservative portfolios, but the AAA tranche, the top of the capital structure, is usually stable and pays attractive yields relative to other investment-grade fixed income.

 

Do you want to know how ETFs changed the game for this asset class?

 

[Maria]

 

Well, we’ve seen some big changes recently.

 

Investing in CLOs was once limited to sophisticated professional investors with big capital, dealer access and the ability to analyze complex credit structures.

 

But the launch of CLO ETFs now gives a broader universe of investors access to this income-generating asset class in a diversified, liquid, and transparent format.

 

So you see these ETFs hold a diversified pool of CLO tranches, providing high yields, low default risk, and floating rate exposure to hedge against interest rate volatility.

 

You get daily liquidity and low-cost exposure, just like any ETF, without managing a CLO tranche portfolio yourself.

 

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