CPLB was created on 2021-06-29 by New York Life Investments. The fund's investment portfolio concentrates primarily on broad credit fixed income. The ETF currently has 332.05m in AUM and 852 holdings. CPLB actively invests in a wide range of corporate, government, mortgage-related and asset-backed securities, while aiming to maintain a portfolio modified duration to worst within 2.5 years of its benchmark. Up to 30% may be invested in high yield bonds, and up to 20% in foreign issuers.