Polen Floating Rate Income ETF
$22.64+0.00 (+0.00%)
- Expense ratio
- 0.59%
- Fund size
- $15M
- 1Y return
- +2.2%
- Yield · Last 12 months
- 10.25%
- Volume · 30D
- 0M sh
- NAV per share
- $22.61
- 52W range
The ETF.net PCFI Grade
Score 18 of 100 sits in the F band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 20Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.FScore 0Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 36Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.FScore 18Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 33Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.DScore 25Category rank
Our read on PCFI
FMost high-yield ETFs buy fixed-coupon junk bonds. PCFI buys senior secured bank loans whose coupons reset with short-term rates, hand-picked from middle-market borrowers by an active credit team.
The Fund seeks total return through high current income and long-term capital appreciation, primarily by investing in fixed- and floating-rate high-yield fixed-income securities.
Why people hold it
- Floating-rate loan coupons reset with short-term rates, so the portfolio carries much less interest-rate sensitivity than a fixed-coupon high-yield bond fund.polencapital.compolencapital.com
- Policy puts at least 80% of assets in floating-rate obligations and bank loans, largely first and second lien senior secured paper near the top of the capital structure.polencapital.com
- Fishes in middle-market credit (issuers with roughly $75M to $250M of EBITDA) in the US and, to a lesser extent, Canada, a corner broad index funds largely skip.polencapital.com
- Actively managed rather than index-tracking, and it pays income monthly.polencapital.com
Worth knowing
- 0.49% a year is active-manager pricing. Index-based high-yield options such as SCYB (0.03%) and HYLB (0.05%) cost a small fraction of that.
- Launched in 2025 with a small asset base and light trading, so bid/ask spreads can run wider than in the category's household-name funds.
- Bank loans sit below investment grade (much of the leveraged loan market is rated B and below), so credit and liquidity risk ride along with the income.polencapital.com
PCFI Holdings
- Other
- —
- 23%
- Auction.com LLC (f/k/a Ten-X 05/26/28 Term Loan
Geography
- United States97.07%
- Canada1.38%
- United Kingdom0.72%
- Netherlands0.61%
- Germany0.22%
PCFI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 21, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | PCFI |
|---|---|
| Year to date | +2.9% |
| 1 month | +1.2% |
| 3 months | +1.8% |
| 1 year | +2.2% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | PCFI |
|---|---|---|
| 2026 YTD | +2.9% | |
| 2025 | +2.4% |
PCFI in the news
ETF.net Research hasn’t filed on PCFI yet — coverage lands here as it’s written.
PCFI Dividends
- 10.25%
- $2.32
- $0.16 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 31, 2026 | Sep 1, 2026 | $0.16 |
| Jul 31, 2026 | Aug 3, 2026 | $0.20 |
| Jun 30, 2026 | Jul 1, 2026 | $0.22 |
| May 29, 2026 | Jun 1, 2026 | $0.16 |
| Apr 30, 2026 | May 1, 2026 | $0.18 |
| Mar 31, 2026 | Apr 1, 2026 | $0.20 |
| Feb 27, 2026 | Mar 2, 2026 | $0.35 |
| Jan 30, 2026 | Feb 2, 2026 | $0.20 |
| Dec 31, 2025 | Jan 2, 2026 | $0.16 |
| Nov 28, 2025 | Dec 1, 2025 | $0.15 |
| Oct 31, 2025 | Nov 3, 2025 | $0.18 |
| Sep 30, 2025 | Oct 1, 2025 | $0.18 |
PCFI Risk
- 4.6%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.21
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −3.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.02
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PCFI Cost
- The middle half of US High Yield funds
- Median 0.43%
66 of the 84 US High Yield funds charge less.