“We feel investors and financial advisors in search of yield with an actively managed short duration bond ETF may find MINC as a desirable alternative to other short-term investment options,” Noah Hamman , chief executive officer of AdvisorShares, said in a press release.

Other actively managed short-term bond ETFs with similar durations include the PIMCO Short Term Municipal Bond ETF (NYSEArca: SMMU), which has a 1.97 year effective duration and a 0.39% 30-day SEC yield, and the FlexShares Ready Access Variable Income Fund (NYSEArca: RAVI), which has a 0.78 year effective duration and a 0.41% 30-day SEC yield. [Are Treasury ETFs Riskier than Stocks?]

For more information on new fund products, visit our new ETFs category.

Max Chen contributed to this article.