BondBloxx Private Credit CLO ETF (PCMM)

BondBloxx Private Credit CLO ETF (PCMM) is an exchange-traded fund from BondBloxx Investment Management that invests in debt tranches of collateralized loan obligations backed by private credit, primarily loans made to middle-market companies.

Private credit CLOs bundle loans originated by direct lenders and divide them into tranches with different levels of seniority and credit quality. The fund focuses on CLO debt rather than equity tranches, and because these securities typically pay floating rates, its income tends to adjust with short-term interest rates. The portfolio is actively managed with the support of a specialist private credit subadviser.

BondBloxx is a San Francisco-based ETF issuer focused on fixed income, offering funds that target specific segments of the bond market.