Pacer Barings Secured Credit Flex ETF (PBSC)

Pacer Barings Secured Credit Flex ETF (PBSC) is an actively managed exchange-traded fund offered by Pacer ETFs, with Barings serving as the investment manager responsible for credit selection. The fund invests in secured credit, meaning debt instruments backed by collateral.

Its portfolio can include senior secured loans, secured high yield bonds and other collateralized credit, issued mainly by below-investment-grade borrowers. The flex in the name reflects the manager's latitude to move between these segments and adjust positioning as relative value changes. Secured debt ranks ahead of unsecured debt in a company's capital structure, and many loans pay floating rates.

Barings is a global investment manager owned by MassMutual, and Pacer ETFs is based in Malvern, Pennsylvania.