%% ALSO low PE \XLU tends to go low\ + lower\ also regulatory risk\ also 3 yr SPY beats\ also 5 yr SPY beats\ also 10 year SPY beats XLU\ any kind of Fed rate , the XLU trend tend$ to underperform SPY . 2014 , XLU beat SPY LOL. NOT a prediction.
Quit your whining, VPU is ONLY down 22% from its high. Also if you look at the weekly chart, it's still hovering near the top. As for the reason, it's simple: HIGH INTEREST RATE.
There are 2 ETFs that I found are principally invest in BBB rated CLOs: JBBB CLOZ. There is one other ETF that seems to have the same return profile as a BBB rated ETF: ICLO. JBBB Janus Henderson B-BBB CLO ETF The investment seeks capital preservation and current income by seeking to deliver floating-rate exposure to collateralized loan obligations (“CLOs”) generally rated between and inclusive of BBB+ and B-. CLOZ Panagram Bbb-B Clo ETF The fund is an actively-managed exchange-traded fund (“ETF”) that pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings made for investment purposes) in collateralized loan obligations (“CLOs”) that are rated, at the time of purchase, between BBB+ and B- or an equivalent rating by a NRSRO. ICLO Invesco Aaa Clo Floating Rate Note ETF The fund is an actively managed ETF that seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in floating rate note securities issued by collateralized loan obligations (CLOs) that are rated AAA (or equivalent by a nationally recognized statistical rating organization (“NRSRO”)) at the time of purchase. Last 3 months spot yields (August September October): JBBB 7.9 8.7 8.5 CLOZ 12.0 9.2 12.0 ICLO 8.1 8.2 7.9 CLOZ seems to have a lot of high yielding CLO tranches. The top 5 holdings are all near 14% yield which includes Bain Capital & Carlyle loans near 14%. For Leveraged Loan ETFs BKLN (Invesco Senior Loan) & SRLN (Blackstone Senior Loan) seem like the best.