“We believe FLRT’s strategy will allow more flexibility to enhance returns by utilizing our top-down perspective on loans, which is complemented by of our bottom-up fundamental selection process. We look forward to delivering this approach through a universally accessible actively managed ETF in collaboration with AdvisorShares,” Pacific Asset Management portfolio manager Jason Rosiak in the statement.

FLRT’s management team covers the entire credit spectrum ‘AAA’ to ‘C’, which gives them a unique perspective on relative value and may offer investors favorable risk/reward opportunities. The new ETF focuses on the larger, highest-yielding issuers of floating rate loans.

For the week ending Feb. 13, the nearly 120 U.S.-listed actively managed ETFs had over $18.8 billion in assets under management, according to AdvisorShares data.

ETF Trends editorial team contributed to this post.