Overview
The 100 largest leveraged loans — floating-rate, senior-secured debt of below-investment-grade companies, yielding over 7%.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| -- | Lumen Technologies TL | 2.1% |
| -- | Medline Industries TL | 1.9% |
| -- | Caesars Entertainment TL | 1.7% |
| -- | UKG Inc. TL | 1.6% |
| -- | Peraton Corp. TL | 1.5% |
| -- | Athenahealth TL | 1.4% |
| -- | American Airlines TL | 1.4% |
| -- | Asurion TL | 1.3% |
| -- | Epicor Software TL | 1.2% |
| -- | TransDigm TL | 1.2% |
Fund Details
Investment Thesis
Senior loans are the have-your-cake trade of credit: junk-level yields with almost no duration (coupons float) and first claim on assets if the borrower fails. BKLN pays 7%+ monthly for that combination — as long as the economy holds. The risks are credit and liquidity, not rates: loans sag in recessions and the ETF wrapper trades faster than the loans inside it, which showed in 2020's air pocket.
Who It's For
Income investors who believe the economy stays out of recession and want yield without duration. A satellite income position with eyes open about what happens in a credit crunch.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $21.74 | -- |
| 2017 | $21.52 | -1.0% |
| 2018 | $20.88 | -3.0% |
| 2019 | $21.29 | +2.0% |
| 2020 | $20.87 | -2.0% |
| 2021 | $21.08 | +1.0% |
| 2022 | $19.60 | -7.0% |
| 2023 | $20.38 | +4.0% |
| 2024 | $20.79 | +2.0% |
| 2025 | $21.00 | +1.0% |
| Year | Yield |
|---|---|
| 2016 | 4.30% |
| 2017 | 4.00% |
| 2018 | 4.60% |
| 2019 | 5.20% |
| 2020 | 4.50% |
| 2021 | 3.20% |
| 2022 | 5.50% |
| 2023 | 8.60% |
| 2024 | 8.30% |
| 2025 | 7.70% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $7B | -- |
| 2017 | $8B | +14.3% |
| 2018 | $6.5B | -18.8% |
| 2019 | $5B | -23.1% |
| 2020 | $4B | -20.0% |
| 2021 | $5.5B | +37.5% |
| 2022 | $4.5B | -18.2% |
| 2023 | $6B | +33.3% |
| 2024 | $8.5B | +41.7% |
| 2025 | $8B | -5.9% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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