Combined, BlackRock, Invesco and Franklin Resources are 16.5% of KBWC’s weight. Legg Mason (NYSE: LM) and T. Rowe Price (NasdaqGS: TROW), two other stocks highlighted by Katz as potential beneficiaries of outflows from PIMCO, combine for 6.7%. Janus, Gross’ new home, is 4.1% of KBWC. [Beyond BOND: Some ETFs Slightly Affected by Gross Departure]
The SPDR S&P Capital Markets ETF (NYSEArca: KCE) should not be overlooked in this scenario, either. Janus, BlackRock, Legg Mason and T. Rowe Price are all top-10 holdings in that ETF, combining for nearly 12% of its weight. Invesco is 2.7% of KCE’s weight.
KBWC and KCE are two of just three ETFs that feature Janus among their top-10 holdings.
SPDR S&P Capital Markets ETF