SEI High Yield Bond & Alternative Credit ETF (LEND)
SEI High Yield Bond & Alternative Credit ETF (LEND)
The SEI High Yield Bond & Alternative Credit ETF is an actively managed ETF that seeks to provide total return by investing in sub‑investment-grade, potentially higher‑yielding, fixed-income securities.
The ETF combines a multi‑manager, high-yield bond allocation with an internally managed collateralized loan obligation (CLO) sleeve, offering diversified exposure across traditional and alternative credit markets.
CLOs are securities that have been created by pooling together smaller high-yielding, fixed-income assets such as bank loans. These pools are then packaged into various tranches (a slice or portion of a structured security) according to credit quality, maturity etc.
SEI brings more than 20 years of experience managing CLOs across multiple market cycles, reflecting the firm’s broader capabilities in active fixed-income and alternative investments.
SEI Investments Management Corporation (SIMC) directly manages a portion of the Fund’s assets. The remaining assets are managed by one or more sub‑advisors with differing investment philosophies, under the general supervision of SIMC. These sub-advisors include: Ares Capital Management II LLC, Benefit Street Partners LLC, Blackstone Credit Systematic Strategies LLC, Brigade Capital Management LP, and J.P. Morgan Investment Management Inc.
Why LEND?
- Institutional manager access
Exposure to established institutional high-yield credit managers through a single, exchange‑traded vehicle. - Diversification through CLO exposure
Includes an allocation to CLOs managed by SEI (SIMC), including investments in CLO equity and debt tranches, leveraging over 20 years of experience and an active management approach. - Broad high-yield and alternative credit exposure
Designed to access a wide range of high-yield and related credit segments, including bank loans and CLOs, across both larger and smaller issuers. This approach is designed to navigate highly specialized and structurally complex high-yield and CLO markets, where rigorous security selection, credit analysis, and risk management are critical across credit cycles. - Multi‑manager portfolio construction
Combines multiple active managers to diversify investment approaches and reduce reliance on any single manager or strategy.
ETF reorganization date: 5/18/2026. Since reorganization NAV: 7.66%. Since reorganization Market Price: 7.41%
On May 18, 2026 the SEI Institutional Managed Trust High Yield Bond Fund, a mutual fund, (the "Predecessor Fund") was reorganized (the "Reorganization") with and into the SEI High Yield Bond & Alternative Credit ETF (LEND) (the "Fund"), a newly created series of the SEI Exchange Traded Funds, that has the same investment objective, policies and restrictions, and substantially the same principal investment strategies, investment advisor and sub‐advisor, as the Predecessor Fund. As a result of the Reorganization, the Fund will assume the Predecessor Fund's performance prior to the date of the Reorganization. Accordingly, the performance shown for periods prior to the Reorganization represents the performance of the Predecessor Fund.
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To determine if this Fund is an appropriate investment for you, carefully consider the fund’s investment objective, risks, and charges and expenses. This and other information can be found in the fund’s prospectus, and if available, the summary prospectus, which can be obtained through the link above. Please read the prospectus carefully prior to investing.
Investing involves risk, including possible loss of principal. There is no guarantee the Fund will achieve its investment objective. Diversification may not protect against market risk. There can be no guarantee that risk will be managed successfully. Bonds and bond funds will decrease in value as interest rates rise. High yield bonds involve greater risks of default or downgrade and are more volatile than investment grade securities, due to the speculative nature of their investments. Changes in interest rates may also affect the liquidity and pricing of securities held by the Fund. Interest rate movements can be unpredictable and may have a material impact on returns. The Fund may invest in derivatives, which are often more volatile than other investments and may magnify the Fund's gains or losses.
The Fund may invest in bank loans, which are generally below investment grade. These investments are subject to credit risk, may be less liquid than other fixed income securities, and may be difficult to value or sell in certain market conditions. The Fund may trade securities actively, which could increase its transaction costs (thereby lowering its performance) and could increase the amount of taxes you owe by generating short-term gains, which may be taxed at a higher rate. Alternative investments are subject to a complete loss of capital and are only appropriate for parties who can bear that risk and the illiquid nature of such investments.
Investments in asset‑backed securities, collateralized loan obligations (CLOs), and similar instruments depend on the performance of underlying assets and structures. These investments may be more complex, less liquid, and more sensitive to credit and market conditions than traditional bonds.
Certain investments may be difficult to buy or sell at desired times or prices, particularly during periods of market stress. Reduced liquidity may result in increased price volatility and cause the Fund’s shares to trade at prices that differ from net asset value (NAV).
The Fund may lose money if an issuer or counterparty fails to make timely interest or principal payments or experiences a decline in credit quality. Credit risk is generally greater for lower‑rated or unrated securities.
The market price returns are based on the official closing price of an ETF share or, if the official price isn’t available, the midpoint between the national best offer (“NBBO”) as of the time the ETF calculates current NAV per share, and do not represent the returns you would receive if you traded at other times. NAVs are calculated using prices as of 4:00pm Eastern Time.
Definition of the 30-day median bid/ask spread: The median percentage by which the Fund’s price exceeds it bid price over the last 30 days.
SEI Investments Management Corporation (SIMC) is the advisor to the Fund, which is distributed by SEI Investments Distribution Co (SIDCO). SIMC and SIDCO are wholly owned subsidiaries of SEI Investments Company (SEI).
For those SEI products which employ a multi-manager structure, SIMC is responsible for overseeing the sub-advisors and recommending their hiring, termination, and replacement.