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Franklin Senior Loan ETF is the most affordable senior loan ETF with a 0.45% expense ratio. It sports an above-average 8.3% dividend yield and could benefit from a higher for the longer situation. FLBL is a solid, albeit somewhat risky, investment opportunity.
The Franklin Senior Loan ETF has achieved a nearly 7% total return since receiving our 'Buy' rating, with minimal losses, primarily due to its dividend yield. Despite the current high interest rates, the ETF has not experienced significant defaults, leading to its steady performance. However, default rates have started to rise in 2024, which could potentially decrease the value of the fund's assets.
Franklin Senior Loan ETF offers access to floating rate exposure and has an impressive 30-day SEC yield exceeding 8.9%. FLBL has a conservative composition with a focus on the healthcare sector and offers protection against credit risk. FLBL faces competition from other leveraged funds, but its low interest rate risk and below-average expense ratio make it an attractive choice.
Senior loan funds offer investors strong, growing dividends. These funds tend to be relatively expensive too, with the exception of Franklin Senior Loan ETF. An overview of the fund follows.
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