FLOT holds about $2.8 billion of assets. The fund charges an expense ratio of 0.20%.
Other ETFs in the category includeSPDR Barclays Capital Investment Grade Floating Rate (NYSEArca: FLRN) and Market Vectors Investment Grade Floating Rate (NYSEArca: FLTR).
Bank loan ETFs, which invest in floating-rate bonds, have also seen hefty inflows this year. [Bank Loan ETFs Still in the Groove as Interest Rates Rise]
“As interest rates have risen over the past few months, investors have sold bond funds, particularly those with a lot of interest-rate risk, and opted instead for bond funds with shorter duration,” says Morningstar ETF analyst Michael Rawson.
