PCMM — BondBloxx Private Credit CLO ETF
Data updated: 2026-09-25
PCMM — BondBloxx Private Credit CLO ETF. Intermediate Securitized (MBS/ABS/CMBS) Bond · $195.28M AUM. Holdings, fees, performance and SEC filings.
PCMM Fund Overview
PCMM — BondBloxx Private Credit CLO ETF is a US ETF managed by BondBloxx ETF Trust, categorised as Intermediate 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: BondBloxx ETF Trust
- Category: Intermediate Securitized (MBS/ABS/CMBS) Bond
- Assets under management: $195.28M
- 1-year return: 5.5%
- Ticker: PCMM
- SEC CIK: 0001879238
- SEC series ID: S000088915
- Share class ID: C000255313
PCMM Investment Objective and Strategy
BondBloxx Private Credit CLO ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by BondBloxx ETF Trust.
Investment objective
The BondBloxx Private Credit CLO ETF (the Fund) seeks capital preservation and current income.
Principal investment strategy
The Fund is non-diversified, which means that it may invest a greater percentage of its assets in a particular issuer and may invest in fewer issuers than a diversified fund. The Fund is an actively managed exchange-traded fund (ETF) that does not seek to replicate the performance of a specified index. 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 term private credit refers to lending activity that occurs outside of the broadly-syndicated markets where banks and other traditional lenders place an issuers debt obligations across a wide range of investors.
For purposes of the Funds 80% policy, the Fund expects private credit CLOs to be CLOs in which at least 80% of each such CLO consists of a pool of loans to companies that are privately-owned and do not issue equity securities in the public markets (private credit CLOs, also commonly known as middle market CLOs). The companies underlying these private credit CLOs can be companies of any size, although middle market CLOs are typically backed by pools of loans to small or medium-sized private companies with EBITDA values of $100 million or less. The Fund expects that each private credit CLO will consist of loans where at least 80% of the total companies within the CLO are private or where at least 80% of total loan amounts within the CLO are issued to private companies. The Fund may temporarily deviate from its 80% policy while deploying new capital as the result of the initial seeding of the Fund, as a result of cash creation or redemption activity, or during unusual market conditions such as a downgrade in the rating of one or more private credit CLOs.
The Fund may invest up to 20% of its net assets (plus the amount of any borrowings for investment purposes) in broadly syndicated bank loans, broadly syndicated bank loans CLOs, high yield bonds, investment grade bonds and cash. The Fund will not invest more than 10% of its net assets (plus the amount of any borrowings for investment purposes) in any single CLO. The Fund may invest in floating- and fixed-rate CLOs, but will not invest more than 20% of its net assets (plus the amount of any borrowings for investment purposes) in fixed-rate CLOs. The Fund may purchase CLOs both in the primary and secondary markets. Additionally, the credit obligations in which the Fund invests through its CLO investments may include newly-issued securities, or new issues, such as initial debt offerings or newly-issued loans.
The Fund primarily invests in securities rated investment grade at the time of purchase. Investment grade securities are considered to be those instruments that are rated BBB- or higher by S&P Global Ratings (S&P) or Fitch Ratings, Inc. (Fitch), or Baa3 or higher by Moodys Investors Service, Inc. (Moodys), or the equivalent by another nationally recognized statistical rating organization (NRSRO), or if unrated, are determined by the Sub-Adviser (as defined below) to be of comparable quality. The Fund may also invest up to 25% of its net assets (plus the amount of any borrowings for investment purposes) in securities rated below investment grade by an NRSRO (inclusive of private credit CLOs and broadly syndicated loan CLOs), or, if unrated, determined by the Sub-Adviser to be of comparable quality including securities in the lowest rating categories and comparable unrated securities (commonly referred to as high yield or junk bonds).
In the event that a security receives different ratings from different NRSROs, the Fund will treat the security as being rated in the highest rating category received from an NRSRO. The Fund may invest in the aggregate up to 25% of its net assets (plus the amount of any borrowings for investment purposes) in non-U.S. dollar denominated instruments. The Fund may seek to limit its risk or enhance returns through derivatives designed to adjust the Funds exposure to interest rates, foreign currency, portfolio duration and specific securities or baskets of securities. In selecting investments for the Fund, the Sub-Adviser will evaluate overall investment opportunities and risks among the types of investments the Fund may hold. The Fund engages in active tradingthat is, frequent trading of its securitiesin order to take advantage of new investment opportunities.
The Fund expects to be more heavily involved in active trading during periods of market volatility seeking to preserve gains or limit losses. The Fund may invest up to 20% of its net assets in certain futures, options and swap contracts, U.S. Treasury obligations, U.S. government obligations, U.S. agency securities, securities of other registered investment companies, cash and cash equivalents. Instead of, or in addition to, investing directly in particular securities, the Fund may invest in derivative instruments, including futures, forwards, options, swaps, and options on swaps, to try to enhance return or to try to reduce (hedge) investment risks. The Adviser has retained Macquarie Asset Management Credit Advisers US, LLC, a Delaware limited liability company, to serve as the Funds investment sub-adviser (MAMCA or the Sub-Adviser).
In managing the Funds assets, the Sub-Adviser uses a combination of top-down economic analysis and bottom-up research in conjunction with proprietary quantitative models, and risk management systems. In the top-down economic analysis, the Sub-Adviser develops views on economic, policy and market trends by continually evaluating economic data that affect the movement of markets and securities prices. This top-down macroeconomic analysis is integrated into the Sub-Advisers bottom-up research which informs security selection. In its bottom-up research, the Sub-Adviser develops an internal rating and outlook on issuers. The rating and outlook are determined based on a thorough review of the financial health and trends of the issuer. The Sub-Adviser may also consider investment factors such as expected total return, yield, spread and potential for price appreciation as well as credit quality, maturity and risk.
The Fund may invest in a security based upon the expected total return rather than the yield of such security.
PCMM Holdings
Top 10 holdings of BondBloxx Private Credit CLO ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Antr 2023-1a Br V/r 07/25/37 | 5.10% |
| Wdmnt 2022-9a A1 V/r 10/25/36 | 4.41% |
| Mcmml 2022-2a Cr V/r 10/24/34 | 3.07% |
| Lshr 2021-1a Ar V/r 01/15/37 | 2.61% |
| Bcmm 2023-2a A1r V/r 10/21/35 | 2.55% |
| Cerb 2025-4a A V/r 01/15/38 | 2.55% |
| Gocap 2020-47a D V/r 08/05/37 | 2.53% |
| Wdmnt 2022-10a C V/r 04/15/38 | 2.53% |
| Jcpdl 2025-1a A1 V/r 10/15/37 | 2.31% |
| Ivyh 20a A1r V/r 07/19/37 | 2.31% |
PCMM Portfolio Allocation
Asset-class allocation of BondBloxx Private Credit CLO ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Securitized | 95.1% |
| Fixed Income | 0.4% |
PCMM Performance
Total returns for PCMM (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.0% |
| 1 year | 5.5% |
PCMM Risk Information
Risk metrics for PCMM, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 1.7%
PCMM Costs and Fees
PCMM costs about $68 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.68%
- Gross expense ratio: 0.68%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
PCMM Cashflows
Over the 12 months to 2026-04, BondBloxx Private Credit CLO ETF had net inflows of $91.94M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $0 |
| 2026-03 | $176 |
| 2026-02 | $10.04M |
| 2026-01 | $8.03M |
| 2025-12 | $3.01M |
| 2025-11 | $12.03M |
PCMM Debt Constituents
Largest debt holdings of BondBloxx Private Credit CLO ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Ares Capital Cor 5.1% 01/15/31 | 0.20% |
| Blackstone Priv 5.05% 09/10/30 | 0.19% |
PCMM Prospectus and SEC Filings
Official BondBloxx Private Credit CLO ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Intermediate Securitized (MBS/ABS/CMBS) Bond funds tracked on ABC INVEST:
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.