Successfully investing in private credit involves four important considerations for advisors. A key benefit for advisors is that this structure eliminates the reporting of acquired fund fees and expenses (AFFE), a common friction point in private credit for financial advisors. In reality, PCR’s underlying index — the VettaFi Private Credit Index — has realized volatility over twice that of high-yield bonds. Pursuit of Pure Private Credit ExposureMany competitors are constrained by the SEC’s 15% limit on illiquid holdings, leading to diluted private credit exposure. Many private credit ETFs intend to offer private credit exposure via direct investment in unlisted securities.