Overview
Actively managed leveraged loans — Blackstone's credit desk picking floating-rate senior-secured debt, paying over 7% monthly.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| -- | Medline Industries TL | 1.6% |
| -- | UKG Inc. TL | 1.4% |
| -- | Caesars Entertainment TL | 1.3% |
| -- | Asurion TL | 1.2% |
| -- | Peraton Corp. TL | 1.2% |
| -- | American Airlines TL | 1.1% |
| -- | Epicor Software TL | 1.0% |
| -- | TransDigm TL | 1.0% |
| -- | Athenahealth TL | 0.9% |
| -- | Hub International TL | 0.9% |
Fund Details
Investment Thesis
In leveraged loans, credit selection is the whole game — the index is full of borrowers you'd rather not lend to — and SRLN pays Blackstone, the largest credit shop on earth, 0.70% to do the picking. The result has historically dodged more defaults than passive BKLN while paying a similar 7%+ floating yield. Same macro risks as all loans: fine until recession, crowded exit when it isn't.
Who It's For
Income investors who want senior-loan yield with an active credit desk screening the borrowers. The institutional-grade version of the BKLN trade, priced accordingly.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $40.89 | -- |
| 2017 | $40.89 | +0.0% |
| 2018 | $40.07 | -2.0% |
| 2019 | $41.27 | +3.0% |
| 2020 | $40.44 | -2.0% |
| 2021 | $41.25 | +2.0% |
| 2022 | $38.37 | -7.0% |
| 2023 | $40.28 | +5.0% |
| 2024 | $41.09 | +2.0% |
| 2025 | $41.50 | +1.0% |
| Year | Yield |
|---|---|
| 2016 | 4.20% |
| 2017 | 4.10% |
| 2018 | 4.70% |
| 2019 | 5.30% |
| 2020 | 4.60% |
| 2021 | 3.40% |
| 2022 | 5.60% |
| 2023 | 8.70% |
| 2024 | 8.20% |
| 2025 | 7.50% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.8B | -- |
| 2017 | $1.5B | +87.5% |
| 2018 | $2.5B | +66.7% |
| 2019 | $2B | -20.0% |
| 2020 | $1.8B | -10.0% |
| 2021 | $3B | +66.7% |
| 2022 | $4.5B | +50.0% |
| 2023 | $5B | +11.1% |
| 2024 | $6B | +20.0% |
| 2025 | $5.5B | -8.3% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of September 2026.
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