Gundlach-Driven Stampede Into Invesco ETF Sputters

BKLN is set for worst month of withdrawals since October 2018
Federal Reserve’s stance may be one reason behind outflows

Jeffrey Gundlach speaks during the Sohn Investment Conference in New York on May 6, 2019.Photographer: Alex Flynn/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Claire Ballentine

February 20, 2020 at 5:06 PM UTC

Updated on

February 21, 2020 at 1:59 AM UTC

This article is for subscribers only.

After billionaire Jeffrey Gundlach’s remarks spurred a rush into an ETF filled with leveraged loans last month, the fund has fallen out of favor.

The $5.5 billion Invesco Senior Loan ETF, or BKLN, has seen outflows for five straight weeks, according to data compiled by Bloomberg. Just in February, investors have yanked more than $560 million from the exchange-traded fund, which is now on pace for its worst month of withdrawals since October 2018.