Finance
Expanding access to private credit
They’re generally reserved for the ultrawealthy and financial institutions.
But the exchange-traded fund industry is looking to give retail investors more access to alternative investments including private credit.
BondBloxx’s Joanna Gallegos thinks it’s a great idea despite the asset class’ reputation for charging high fees and academic research that have shown sluggish returns. Her firm launched the BondBloxx Private Credit CLO ETF (PCMM) about three months ago.
“We don’t believe in the velvet rope. We believe in connecting markets,” the firm’s co-founder and chief operating officer told CNBC’s “ETF Edge” this week. “People have not had access to it. It makes sense in a portfolio. People should have access to … a power tool like that in their portfolio.”
The fund invests around 80% of its holdings in private credit collateralized loan obligations, according to the BondBloxx website. Since its Dec. 3 debut, Gallegos’ fund is up 1%.
While the S&P 500 and tech-heavy Nasdaq just saw their worst weekly performances since last September, the BondBloxx Private Credit CLO ETF closed virtually flat.
BondBloxx Private Credit CLO ETF Performance
Gallegos, who’s the former head of global ETF strategy at J.P. Morgan Asset Management, thinks criticism surrounding alternative investment ETFs will fade.
“We heard the same push back [on] high-yield ETFs: ‘Oh, you can’t price that. It’s too expensive,”‘ she said. “Then, the ETF connected that market in a way that allowed investors to participate, [and] drove the prices down in the category in terms of distributed funds.”
‘Most people don’t need it’
But Strategas Securities’ Todd Sohn contends the so-called velvet rope isn’t worth going through. He said skeptical access to alternative investments will provide meaningful benefits to retail investors.
“Most people don’t need it,” the firm’s managing director of ETF and technical strategy said. “If you have a diversified portfolio of five low-cost ETFs, you’re pretty good, right?”
The uranium trade’s shelf life may last years.
According to Sprott Asset Management CEO John Ciampaglia, a “real shift” upward is underway due to increasing global energy demand — particularly as major tech companies look to power artificial intelligence data centers.
“We’ve been talking about uranium and nuclear energy non-stop for four years at Sprott, and we’ve been incredibly bullish on the segment,” he told CNBC’s “ETF Edge” this week.
Ciampaglia’s firm runs the Sprott Physical Uranium Trust (SRUUF), which Morningstar ranks as the world’s largest physical uranium fund. It’s up 22% over the past two months.
The firm is also behind the Sprott Uranium Miners ETF (URNM), which is up almost 38% over the past two months. The Sprott website lists Cameco and NAC Kazatomprom JSC as the top two holdings in the fund as of June 12.
“It’s [uranium] a reliable form of energy. It has zero greenhouse gases. It has a very good long-term track record,” Ciampaglia said. “It provides a lot of electricity on a large scale, and that’s right now what the grid is calling for.”
Ciampaglia finds attitudes are changing toward nuclear energy because it offers energy security with a low carbon footprint. Uranium is “incredibly energy-dense” compared to most fossil fuels, he said, which makes it a promising option to ensure energy security.
He cited the 2022 energy crisis in Europe after Russia cut its oil supply to the region and April’s grid failure in Spain and Portugal as cases for more secure energy sources.
“We think this trend is long term and secular and durable,” Ciampaglia said. “With the exception of Germany, I think every country around the world has flipped back to nuclear power, which is a very powerful signal.”
‘You need reliable power’
VanEck CEO Jan van Eck is also heavily involved in the uranium space.
“You need reliable power,” he said. “These data centers can’t go down for a fraction of a second. They need to be running all the time.”
His firm is behind the VanEck Uranium and Nuclear ETF (NLR), which is up about 42% over the past two months. According to VanEck’s website as of June 12, its top three holdings are Oklo, Nuscale Power and Constellation Energy.
But he contends there’s a potential downside to the uranium trade: Building new nuclear power plants can take years.
“What’s going to happen in the meantime?” Van Eck said. “Investors are not patient, as we know.”
Van Eck also thinks it’s possible the Trump administration’s positive attitude toward nuclear power could fast track development.
He highlighted nuclear technology company Oklo during the interview. Its shares soared on Wednesday after the company announced it was anticipating a deal with the Air Force to supply nuclear power to a base in Alaska.
The agreement came not long after President Donald Trump in May signed a series of executive orders to rework the Nuclear Regulatory Commission, expedite new reactor construction and expand the domestic uranium industry.
“Trump controls federal land, so that’s not a NIMBY [not in my backyard] kind of potential risk,” said Van Eck. “They’re going to leverage that hard to start to show the safety of these newer, smaller technologies.”
Finance
Amazon is selling an $800 portable power station for $550, and shoppers 'love the mobile design and durability'
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Camping is a fun summer activity. What’s not fun is having no access to electricity. You can’t charge your phone, watch TV, or make your morning cup of coffee. Thankfully, portable power stations allow you to do all that and more. It’s literally like bringing along a giant battery for all of your electronics. Portable power stations are also good to have around your home in case of power outages.
There’s just the problem of price. Portable power stations are notoriously expensive, especially ones that have a larger energy storage capacity. The good news is that we were able to find a solid deal on a 1,056-watt-hour (or 1 kilowatt-hour) power station. This $800 Anker Solix C1000 Portable Power Station is $550 at Amazon for a limited time. At 31% off, you’re saving $250.
Anker Solix C1000 Portable Power Station, $550 (was $800) at Amazon
The Anker Solix C1000 features a power output of 1,800 watts, making it strong enough to handle multiple electronics and small appliances at once. It has 11total power ports. You get two USB-A and USB-C ports, a car socket, and six AC outlets. Additionally, it also functions as a night light and has a handle for easy carrying. It weighs about 28 pounds.
Now let’s talk about charging. There are two ways you can charge the Anker Solix C1000. The first way is just by plugging it into a standard AC wall outlet. Or if you have the portable solar panels (sold separately), you simply connect the wires and place the panels in the sun. When plugged into an AC outlet, your power station can be fully charged in about an hour. If you charge up with solar, it’ll likely take around two hours. The digital display on the front of the power station shows you the battery and charging status.
Shoppers have found multiple uses for this portable power station. “We bought it mainly for short power outages and to run our refrigerator, but it will have many other uses for sure,” one shopper said. “Just this past week, I had to do some repairs to our floating dock, and there is no extension cord long enough to reach, so I brought this Anker Solix C1000 and it powered our two saws and drills without any issue at all. It’s very cool and has lots of different outlets. Very impressive unit!”
Others say they get daily use out of it. “I love it. I use it every day. I am traveling and camping everywhere,” one shopper shared. “I use it to power a car mobile refrigerator, a little portable air conditioner, and of course, my iPhone and other electronics, and sometimes an electric stove. It can take on all tasks with no problem. I love the mobile design and durability.”
You don’t need to be ‘roughing it’ the next time you go camping. Consider grabbing the Anker Solix C1000 Portable Power Station to keep all your devices charged and bring along a few essentials for the kitchen or living room. You’ll feel like you never left home.
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