ETF Evaluator:
BondBloxx Private Credit CLO ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Securitized Bond - Focused Over the Last Year
| 6.0% | iShares BBB-B CLO Active ETF (BCLO) |
| 5.6% | Nuveen AA-BBB CLO ETF (NCLO) |
| 5.4% | Reckoner Yield Enhanced AAA CLO ETF (RAAA) |
| 5.4% | Eldridge BBB-B CLO ETF (CLOZ) |
| 5.3% | BondBloxx Private Credit CLO ETF (PCMM) |
Risk
Index
Risk
Index
ETF Details
BondBloxx Private Credit CLO ETF Overview
BondBloxx Private Credit CLO ETF (PCMM) is an actively managed Taxable Bond Securitized Bond - Focused exchange-traded fund (ETF). BondBloxx Investment Management launched the ETF in 2024.
The investment seeks capital preservation and current income.
The fund invests, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in private credit collateralized loan obligations (“CLOs”). A CLO is a type of asset backed security supported by interest and principal payments generated from a pool of loans, which may include, among others, U.S. and non-U.S. senior secured loans and subordinated corporate loans and privately placed loans. The fund is non-diversified.
About BondBloxx Private Credit CLO ETF (PCMM)
There are 2 members of the management team with an average tenure of 1.66 years: Elya Schwartzman (2024) and Vivek Bommi (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. BondBloxx Private Credit CLO ETF has 80 securities in its portfolio. The top 10 holdings constitute 29.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
BondBloxx Private Credit CLO ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. BondBloxx Private Credit CLO ETF has 32.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 94.3% (62.0% domestic bond, 32.3% foreign bond and 0.0% convertible bond). BondBloxx Private Credit CLO ETF has 5.7% of the portfolio in cash.
Assets Under Management
The fund has $195 million in total assets, which is below the $1 billion average for the Securitized Bond - Focused category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PCMM Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The BondBloxx Private Credit CLO ETF expense ratio is above average compared to funds in the Securitized Bond - Focused category. BondBloxx Private Credit CLO ETF has an expense ratio of 0.68%, which is 118% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. BondBloxx Private Credit CLO ETF has a portfolio turnover rate of 19%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 51% for the Securitized Bond - Focused category.
Recently, in the month of July 2026, BondBloxx Private Credit CLO ETF returned 0.5%, which earned it a grade of A, as the Securitized Bond - Focused category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
BondBloxx Private Credit CLO ETF has a trailing yield of 6.47%, which is above the 5.32% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
BondBloxx Private Credit CLO ETF Grades
Year to date, the ETF has returned 2.9%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 5.3% over the past year (grade of A).
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PCMM Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PCMM Return (NAV) | 0.5% | 1.8% | 5.3% | na | na | na |
| PCMM Return (Price) | 0.4% | 1.8% | 4.9% | na | na | na |
| NAV +/- Price Return | 0.044% | 0.044% | 0.445% | na | na | na |
| Securitized Bond - Focused Avg | 0.3% | 1.2% | 4.9% | 6.6% | 3.4% | 1.9% |
| PCMM Grade (NAV) | A | A | A | na | na | na |
| +/- Category (NAV) | 0.2% | 0.7% | 0.4% | na | na | na |
| PCMM Tax-Cost Ratio | na | na | 2.6% | na | na | na |
PCMM Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PCMM Return (NAV) | 2.9% | 6.1% | na | na | na | na | na | na | na | na | na |
| PCMM Return (Price) | 2.5% | 6.3% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.117% | 0.029% | na | na | na | na | na | na | na | na | na |
| Securitized Bond - Focused Avg | 2.5% | 5.9% | 7.6% | 9.0% | -3.7% | 0.3% | 5.8% | 7.5% | 0.6% | 3.1% | 3.0% |
| PCMM Grade (NAV) | B | B | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.3% | 0.2% | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 6.5% |
| Total Assets: | $ 195 Mil |
| Share Class Assets: | $ 195 Mil |
| Turnover: | 19.0% |
| Expense Ratio: | 0.68% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.7 years | |||
| Average Tenure: 1.7 years | |||
| Managers (Year): Schwartzman Elya (2024), Bommi Vivek (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 80 |
| % in Top 10 Holdings: | 29.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 32.3% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 62.0% |
| Foreign Bond: | 32.3% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 5.7% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | BondBloxx Investment Management |
| Phone Number: | 800-896-5089 |
| Website: | |
| Inception Date: | December 2, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.68% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.31% |
