TCW Senior Loan ETF (SLNZ)

TCW Senior Loan ETF (SLNZ) is an actively managed fixed-income fund from TCW Group, the Los Angeles-based asset manager. It invests primarily in senior secured, floating-rate bank loans made to corporate borrowers, most of which are rated below investment grade.

Because the interest on senior loans resets periodically with short-term benchmark rates, the portfolio has relatively low sensitivity to changes in interest rates, while its loans typically rank at the top of the borrower's capital structure and are backed by collateral. TCW's credit team selects individual loans based on fundamental analysis of issuers rather than tracking an index.