The PowerShares Senior Loan Portfolio (NYSEArca: BKLN) provides access to the S&P/LSTA U.S. Leveraged Loan 100 Index, which tracks debt notes that are high-yield, floating rate and secured by collateral. The ETF comes with a 4.44% 30-day SEC yield. [Bank Loan ETF Pays 5% Yield]

Recently, Pyxis Capital LP launched the Pyxis iBoxx Senior Loan ETF (NYSEArca: SNLN), which will try to reflect the performance of the Markit iBoxx USD Leveraged Loan Index, which holds the 100 most liquid bank loans. [Higher Yield Bank-Loan ETF to Face Competition]

For past stories in this series, visit our “What is an ETF?” category.

PowerShares Senior Loan Portfolio

Max Chen contributed to this article.