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FCT - FLOT: This Floating-Rate ETF Has Limited Appeal
First Trust Senior Floating Rate Income Fund II of Beneficial Interest
The iShares Floating Rate Bond ETF (FLOT) invests in Investment-Grade floating rate notes based on the Bloomberg Barclays US Floating Rate Note < 5 Years Index.
While recent performance has been near the top amongst Floating-Rate funds, its long-term results are on the bottom of the stack. Results are linked to the index used.
This article reviews the FLOT ETF and comments on how this ETF, with a minuscule yield, might fit into an investor's overall portfolio strategy. Others should avoid it.