SNLN

Highland iBoxx Senior Loan ETF
C

N/A
*Unless otherwise stated, data provided by FactSet.

SNLN Fund Description

The Highland/iBoxx Senior Loan ETF tracks an index comprised of 100 senior loans with at least one year remaining in maturity. Loans are selected by liquidity and weighted by market value.

SNLN Factset Analytics Insight

SNLN delivers exposure to approximately 100 most liquid senior loans—floating-rate, high-yield senior debt issued by banks to companies. SNLN’s loans pass a screen for $500M in par amount outstanding and a spread over LIBOR of over 125 bps. The index imposes very robust liquidity selection criteria to identify the top 100 most liquid senior loans. While the floating-rate feature reduces sensitivity to interest rates, SNLN carries significant credit risk in that the portfolio is below investment grade and can include loans from insolvent issuers. Also, a spike in interest rates will make it harder for issuers to service their debt, a consideration that applies across the board in this space. The fund charges a low expense ratio in context. The robust liquidity selection criteria in SNLN’s underlying index should help with SNLN’s underlying liquidity. However, underlying liquidity—for all bank loan funds—remains a concern for larger investors and during market sell-offs. Institutions should reach out to market makers to assist with block trades and expect to be charged a premium for the service.

SNLN CHARTS AND PERFORMANCE

Price Chart ($)
Total Return Chart (%)
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COMPARE
RESET
Select ETFs to compare their performance:
PERFORMANCE [as of 07/12/18] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
SNLN -0.04% 0.43% 2.32% 3.23% 2.89% 2.51% --
SNLN (NAV) -0.01% 0.40% 2.24% 3.23% 2.77% 2.50% --
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All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

SNLN Top 10 Countries

SNLN Top 10 Sectors

SNLN Top 10 Holdings [View All]

SNLN Summary Data

Highland
11/08/12
Open-Ended Fund
0.55%
$598.44M
$2.59M
0.07%

SNLN Portfolio Data

0.25
4.75 years
1.31%
06/15/16
113

SNLN Index Data

Market Value
Liquidity
N/A

SNLN Portfolio Management

0.55%
-0.48%
-0.08%
-0.79%

SNLN Tax Exposures

20.00% / 39.60%
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Ordinary income
No

SNLN Fund Structure

Open-Ended Fund
No
No
No Policy
N/A
N/A
Low
Daily
Bats Book Viewer
TOP OF BOOK
LAST 10 TRADES
Bats BZX Real-time Quote -
Daily Spread
Premium/Discount
Volume

SNLN Factset Analytics Block Liquidity

As of 07/18/18
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of SNLN. SNLN is rated a 3 out of 5.

SNLN Tradability

142,340
$2.59M
106,415
$1.94M
0.07%
$0.01
0.05%
0.28% / -0.22%
None
97.38%
100,000
1.06
0.03%
0.00%
0
$18.13
3

SNLN Sector/Industry Breakdown


SNLN
Segment Benchmark
100.00%
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SNLN Top 10 Holdings[View All]

5.13%
2.30%
2.21%
1.92%
1.92%
1.91%
1.90%
1.90%
1.82%
1.74%
22.75%

SNLN Top 5 Countries


SNLN
Segment Benchmark
87.14%
--
12.86%
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SNLN Top 5 Currencies


SNLN
Segment Benchmark
100.00%
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SNLN Economic Development


SNLN
Segment Benchmark
12.86%
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0.00%
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SNLN Performance Statistics

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SNLN HOLDINGS STATISTICS


SNLN
Segment Benchmark
4.75 years
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0.25
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1.31%
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113
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B+
N/A

SNLN MATURITY DISTRIBUTION


SNLN
Segment Benchmark
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SNLN CREDIT BREAKDOWN


SNLN
Segment Benchmark
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