The firm’s latest public and private ETF goes beyond CLOs and includes mortgages, credit cards, auto loans and other debt.
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The company’s new model portfolios are built primarily with ETFs or mutual funds, but they use less-liquid funds for private holdings.
PRIV was a standout performer in 2025. Investors may have taken note.
Retail investors can get private assets in a few ETFs, but there are limits on how much is in the portfolios and questions about valuations.
Its two diversified bond ETFs can’t match the private-credit allocations of less-liquid vehicles, but they are beating 92% of peers.
Semiliquid funds topped $450 billion in assets, but a handful of private credit ETFs have been slow to win over investors.
The company is prepping a private credit mutual fund that adds a unique flavor — tokenization.