Palmer Square CLO Senior Debt ETF

C000252104 Fund Overview

Palmer Square CLO Senior Debt ETF is a US ETF managed by Palmer Square Funds Trust, categorised as Long Securitized (MBS/ABS/CMBS) Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: Palmer Square Funds Trust
• Category: Long Securitized (MBS/ABS/CMBS) Bond
• Assets under management: $142.77M
• 1-year return: 5.4%
• SEC CIK: 0002014487
• SEC series ID: S000086524
• Share class ID: C000252104

C000252104 Investment Objective and Strategy

Palmer Square CLO Senior Debt ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Palmer Square Funds Trust.

Investment objective

Palmer Square CLO Senior Debt ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield (before the Funds fees and expenses) of Palmer Square CLO Senior Debt Index.

Principal investment strategy

The Fund uses a passive management (or indexing) approach to track the performance, before the Funds fees and expenses, of the Palmer Square CLO Senior Debt Index (the Index). The Index is a rules -based observable pricing and total return index for CLO debt for sale in the United States rated at the time of issuance as AAA or AA by at least one of the major rating agencies or an equivalent rating as determined by Palmer Square Capital Management LLC (the Advisor). Such debt is often referred to as the senior tranches of a CLO. The Advisor uses an indexing strategy to achieve the Funds objective. As a result, the Fund does not seek to beat the Index and does not take temporary or defensive positions when markets decline or appear overvalued. To be eligible for inclusion in the Index, CLOs must be floating rate U.S.

dollar -denominated tranches of Arbitrage CLOs collateralized by broadly syndicated loans originally rated AAA or AA (or an equivalent rating) with closing dates on or after January 1, 2009, with a minimum size of $500 million ($600 million prior to December 31, 2012). The CLO tranches eligible for inclusion in the Index include the top 50% of deals based on the per quarter deal issuance size. The CLOs must be managed by managers who manage at least three outstanding CLOs, at least two of which commenced on or after January 1, 2009. If the manager has more than two deals issued in one calendar year, the two largest deals based on par outstanding will be included in the Index. Eligible Index components are assigned a diversity score by Moodys based on the diversification of the underlying loan assets of the CLO.

CLOs with a diversity score of less than 45 during their reinvestment period are excluded from the Index. There is no limit to the number of components in the Index and individual weightings are based on market value. As of June 30, 2025, the Index was comprised of 740 CLOs, which are each in turn each comprised of a large number of loans. While the Fund may concentrate its industry exposure to extent of the Index, the Index is highly diversified as to issuers and industries. Arbitrage CLOs are a pool of broadly syndicated loans which seek to capture the excess between (i) money coming from payment relating to interest and principal on underlying loans, and (ii) money going out in costs such as management fees. The following types of CLOs are not eligible for inclusion in the Index: (i) Middle -market CLOs which are collateralized by loans to small or medium -sized firms and/or by loans of a small or medium size, (ii) fixed rate, revolver, combo or step up notes, (iii) asset -backed CDOs collateralized by residential, commercial or consumer credit loans, (iv) emerging market CLOs collateralized by loans to or securities of emerging markets issuers and (v) Balance Sheet CLOs, which are loans securitized by the issuer.

The Fund does not hold all securities in the Index. The Fund uses a representative sampling index strategy, which involves investing in a representative sample of securities that collectively has an investment profile similar to that of the Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market value and industry weightings), fundamental characteristics (such as return variability, duration, maturity, credit ratings or yield) and liquidity measures similar to those of the Index. Under normal circumstances, the Fund will invest at least 80% of its net assets (including borrowings for investment purposes) in the component securities of the Index. At times, the Fund may utilize different techniques to track the Index, including: (i) purchasing securities not contained in the Index that the Advisor believes are appropriate to substitute for securities in the Index, (ii) overweighting or underweighting component securities of the Index, and (iii) purchasing or selling securities in the Index in anticipation of their addition to or removal from the Index.

Securities that are not components of the Index may include other CLOs and debt securities or pooled vehicles such as mutual funds or exchange -traded funds that the Advisor believes are consistent with tracking the Index. The Index is rebalanced at the close of the last business day of each quarter, following the U.S. holiday calendar. Refinancing transactions are included in rebalances at the close of the last business day of each month, following the U.S. holiday calendar. The Fund rebalances its portfolio in accordance with the Index. Therefore, any changes to the Indexs rebalance schedule will result in corresponding changes to the Funds rebalance schedule. The Index is sponsored by the Advisor. The Index is calculated by NYSE Group, Inc. or its affiliates and is available for licensed users.

The Funds investment strategy may involve active and frequent trading of portfolio securities. The Fund is non -diversified , which means it may invest a greater portion of its assets in fewer issuers than would otherwise be the case.

C000252104 Holdings

Top 10 holdings of Palmer Square CLO Senior Debt ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000252104 holdings

C000252104 Portfolio Allocation

Asset-class allocation of Palmer Square CLO Senior Debt ETF by percentage of net assets, from the latest SEC N-PORT filing.

C000252104 Performance

Total returns for C000252104 (as of 2026-10-01), from SEC filings.

C000252104 Risk Information

Risk metrics for C000252104, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 0.3%

C000252104 Costs and Fees

C000252104 costs about $21 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.21%
• Gross expense ratio: 0.21%
• Portfolio turnover: 68%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000252104 Cashflows

Over the 12 months to 2026-06, Palmer Square CLO Senior Debt ETF had net inflows of $107.00M, from monthly SEC N-PORT filings.

C000252104 Debt Constituents

No individual debt constituents are reported in Palmer Square CLO Senior Debt ETF's latest SEC N-PORT filing.

C000252104 Prospectus and SEC Filings

Official Palmer Square CLO Senior Debt ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2025-10-27
• Portfolio holdings (N-PORT) — filed 2026-08-20
• Portfolio holdings (N-PORT) — filed 2026-05-21
• Portfolio holdings (N-PORT) — filed 2026-02-26
• Annual census (N-CEN) — filed 2026-09-09
• Annual census (N-CEN) — filed 2025-09-09

Related Funds

Other Long Securitized (MBS/ABS/CMBS) Bond funds tracked on ABC INVEST:

• PIMCO Income Fund (PONAX)
• Bridge Builder Core Plus Bond Fund (BBCPX)
• iShares MBS ETF (MBB)
• Guggenheim Total Return Bond Fund (GIBAX)
• Janus Henderson AAA CLO ETF (JAAA)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.