PSQA ETF — Palmer Square CLO Senior Debt ETF

Palmer Square CLO Senior Debt ETF (PSQA)

PSQA is an ETF. As of August 19, 2026, its distribution rate is 3.83%, its trailing-12-month yield is 4.10%, its expense ratio is 0.21%. Dividend Vision Distribution Safety Score™ is 50/100 (Caution). Fund total return is 11.3% over the past 1.9 years, 29.2 points behind SPY at 40.5%.

At the current 3.83% distribution rate, a $10,000 investment would generate approximately $383 per year, or $31.92 per month on an equivalent basis. Actual quarterly payments vary.

Palmer Square CLO Senior Debt ETF tracks a rules-based index of senior-tranche collateralized loan obligations (CLOs) rated AAA or AA at issuance, using an indexing strategy to provide exposure to this fixed income sector. The fund distributes quarterly income at a current high distribution rate, with a low expense ratio of 0.21%. This ETF may appeal to income-focused investors seeking higher-yielding fixed income exposure through structured credit products.

PSQA performance versus SPY

Data as of August 19, 2026.

Fund total return is 11.3% over the past 1.9 years, 29.2 points behind SPY at 40.5%. Its deepest 1-year drawdown was 0.8%.

PSQA key facts

Data as of August 19, 2026.

Distribution Safety Score™

50 · Caution

Issuer

Palmer Square Capital Management

Asset type

ETF

Asset class

Fixed Income

Expense ratio

0.21%

Distribution rate

3.83%

Distribution frequency

Quarterly

Trailing yield

4.10%

Last close

$20.67

AUM

$207,603,160

Average volume

49576.0

Last dividend

$0.1980

Ex-dividend date

06/24/2026

Payment date

06/30/2026

How Dividend Vision calculates yield and returns

Distribution rate (3.83%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (4.10%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 19, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of August 19, 2026.

Primary sources: Palmer Square Capital Management; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

PSQA risks and drawbacks

PSQA's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 0.8%.

Who may consider PSQA — and who may not

PSQA may suit someone looking for moderate current income with a quality tilt. It is a weaker fit for investors who need monthly cash flow (PSQA pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More funds from Palmer Square Capital Management.