The SPDR DoubleLine Total Return Tactical ETF (NYSEArca: TOTL), bond king Jeff Gundlach’s first entry into the world of exchange traded funds, is proving to be a quick success as it has topped $1 billion in assets under management.
To be precise, TOTL, which debuted in February, has $1.08 billion in assets under management, easily making it one of the most successful new ETFs to come to market this year.
“TOTL serves up a core fixed-income strategy and seeks to outperform the Barclays U.S. Aggregate Bond Index. At 0.55%, the ETF offers a less expensive way to benefit from Gundlach’s acumen than the 0.73% price tag for the retail share class of his DoubleLine Total Return Fund (DLTNX),” according to Morningstar. [Gundlach’s new Bond ETF]
Gundlach is one of a small amount of bond managers with the temerity to recently state that the Fed will not boost rates this year.
“Barclays U.S. Aggregate Bond Index and fixed income asset classes outside the index with the goal of maximizing total return over a full market cycle through active sector allocation and security selection,” according to a statement issued by State Street on Wednesday.