VIRTUS SEIX AAA Private Credit CLO ETF (PCLO)

Virtus Seix AAA Private Credit CLO ETF (PCLO) is an actively managed exchange-traded fund from Virtus Investment Partners, subadvised by Seix Investment Advisors, that invests primarily in AAA-rated tranches of collateralized loan obligations backed by private credit loans.

Private credit CLOs pool loans made directly to middle-market companies by private lenders rather than broadly syndicated loans. The AAA tranches occupy the most senior position in the payment structure, supported by the subordinated tranches beneath them. Because CLO debt typically pays floating rates, the fund's income adjusts with short-term interest rates and its sensitivity to rate changes is low.

Seix, a fixed income specialist within the Virtus family of managers, evaluates individual CLO deals and their collateral managers. Virtus is headquartered in Hartford, Connecticut.