Wellesley Asset Management Launches the Miller Convertible Total Return ETF (MCVT)
A new actively managed ETF designed to maximize total return through convertible securities
PORTSMOUTH, N.H., March 25, 2026 /PRNewswire/ -- Wellesley Asset Management, Inc., a leading investment advisory firm specializing in convertible securities, today announced the launch of the Miller Convertible Total Return ETF (MCVT), an actively managed exchange‑traded fund seeking to deliver total return through a disciplined, convertible‑focused strategy.
A Strategy Built for Today's Markets
The Miller Convertible Total Return ETF aims to maximize total return, current income plus capital appreciation while emphasizing capital preservation, a hallmark of Wellesley's long‑standing investment philosophy.
Convertible securities, which blend characteristics of both stocks and bonds, offer a distinct risk‑reward profile. They may provide:
- Capital Preservation relative to equities
- Upside participation in rising markets
- Lower volatility than traditional stock portfolios
These features make convertibles a compelling option for investors seeking resilient performance across market cycles. (ETF website link here)
"Wellesley has spent decades refining a disciplined approach to convertible investing," said Michael Miller, CEO of Wellesley Asset Management. "The launch of MCVT brings our expertise to the ETF marketplace, offering investors a liquid, transparent, and cost‑efficient way to access the convertible asset class."
Portfolio Manager, Jim Buckham added, "The Miller Convertible Total Return ETF is a complementary strategy to our existing suite of mutual funds, providing our clients with another avenue to invest in this dynamic asset class."
"MCVT, as an actively managed ETF, is an efficient way to access the exciting return profile of convertible bonds" said Chief Investment Officer, David Clott.
About Wellesley Asset Management
Wellesley Asset Management, Inc. is an independent, registered investment advisory firm specializing in convertible bond strategies for individuals, advisors, and institutions. With decades of experience navigating market volatility, Wellesley focuses on delivering absolute‑return‑oriented solutions grounded in discipline, risk management, and deep expertise in convertibles. Wellesley Asset Management
Availability: Shares of the Miller Convertible Total Return ETF (MCVT) are now available for trading on NYSE Arca. Investors should carefully review the fund's prospectus for detailed information on risks, fees, and investment strategies. Public
Wellesley Asset Management, Inc.
100 Market Street, Suite 203
Portsmouth, NH 03801
Phone: 781‑416‑4000
Email: [email protected]Wellesley Asset Management
Important Risk Information:
ETFs involve risk including possible loss of principal. The Fund is a new fund, with no operating history, which may result in additional risks for investors in the Fund. The Portfolio's investments in convertible securities subject the Portfolio to the risks associated with both fixed-income securities and common stocks. Growth stocks may be more volatile than other stocks because they are generally more sensitive to investor perceptions and market moves. Wellesley's objective judgments about the attractiveness and potential appreciation of particular investments in which the Fund invests may prove to be incorrect and there is no guarantee that the Fund's investment strategy will produce the desired results. The Fund has a limited number of financial institutions that may act as Authorized Participants (or "APs"). In addition, there may be a limited number of market makers and/or liquidity providers in the marketplace. The Fund may invest in debt securities of any quality, including debt securities that are below investment grade (commonly called "high yield" or "junk" bonds). Failures or breaches of the electronic systems of the Fund, the Fund's advisor and other service providers can potentially result in financial losses to the Fund and its shareholders. Equity securities, such as common stocks, are subject to market, economic and business risks that may cause their prices to fluctuate.
Although it is expected that the market price of Shares will approximate the Fund's NAV, there may be times when the market price of Shares is more than the NAV intra-day (premium) or less than the NAV intra-day (discount) due to supply and demand of Shares or during periods of market volatility. In general, the price of a fixed income security falls when interest rates rise. Increased portfolio turnover causes the Fund to incur higher brokerage costs, which may adversely affect the Fund's performance and may produce increased taxable distributions.
If any privately placed security held by the Fund should become illiquid, the value of the security may be reduced and a sale of the security may be more difficult. The Fund is subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Any of these occurrences could disrupt the operations of the Fund and of the Fund's service providers. Investments in underlying funds that own small and mid-capitalization companies may be more vulnerable than larger, more established organizations. Synthetic convertible bonds are derivative debt securities and are subject to the creditworthiness of the counterparty of the synthetic security.
If any privately placed security held by the Fund should become illiquid, the value of the security may be reduced and a sale of the security may be more difficult. The Fund is subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Any of these occurrences could disrupt the operations of the Fund and of the Fund's service providers. Investments in underlying funds that own small and mid-capitalization companies may be more vulnerable than larger, more established organizations. Synthetic convertible bonds are derivative debt securities and are subject to the creditworthiness of the counterparty of the synthetic security.
There is no assurance that the Fund will achieve its investment objectives. Investors should carefully consider the investment objectives, risks, charges and expenses of the Miller Convertible Total Return ETF. This and other important information about the ETF is contained in the prospectus, which can be obtained by calling 781-416-4000 and should be read carefully before investing. The Fund is distributed by Northern Lights Distributors, LLC, member FINRA / SIPC. Wellesley Investment Advisors, Inc. and Northern Lights Distributors, LLC are not affiliated entities.
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SOURCE Wellesley Asset Management