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Thursday, May 2
Thursday saw the launch of the First Trust Senior Loan ETF (FTSL), an actively managed...
Thursday saw the launch of the First Trust Senior Loan ETF (FTSL), an actively managed alternative to funds like BKLN, SRLN and SNLN. Volume topped out at over 50,000 shares - a relatively strong first day of trading for a new ETF. Sr. Loan funds have seen massive inflows YTD with BKLN gathering the 6th most assets of any ETF according to IndexUniverse and SRLN gathering $155M in AUM in the month since it debuted. FTSL charges 0.85% - slightly less than actively managed counterpart SRLN (0.90%). Passively managed BKLN is the asset leader in the space with nearly $3.8B in AUM and charges 0.66% while SNLN ($77M AUM) is the cheapest of the group with expenses of just 0.55%.