Newfleet Asset Management, an affiliated manager of Virtus Investment Partners, will sub-advise the ETF.
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MINC “mixes a cross-section of bond sectors and maturities with two objectives: reducing volatility with a short duration and maximizing yield. The fund’s expense ratio of 0.75% is the result of two factors: the active management approach taken by the fund and the cost of transactions in global bonds. The fund limits high-yield corporate bonds to a maximum of 10% of the portfolio and non-U.S. holdings to 30%,” according to Investopedia.
MINC looks to provide current income consistent with preservation of capital while mitigating fluctuations in net asset value due to interest rate changes. The fund has a 0.75% expense ratio.
“The weighted average maturity for the fund is 7.6 years and the duration is 2.4 years. The distribution yield is 2.79%. MINC’s one-year return is 1.63%, and its annualized return over three years is 1.68%,” adds Investopedia.
For more information on bond ETFs, visit our fixed-income category.