Following in the footsteps of other behemoth financial institutions, Wells Fargo & Co. (NYSE: WFC) is dipping its toes into the exchange traded funds.

Wells Fargo is considering launching its first ETF within three to six months after witnessing the success of other banks turn ETF sponsors, like JPMorgan Chase & Co (NYSE: JPM) and Goldman Sachs Group (NYSE: GS), reports Dani Burger for Bloomberg.

According to a recent Securities and Exchange Commission exemptive relief filing, Wells Fargo is creating a Wells Fargo Exchange-Traded Funds Trust, Wells Fargo Funds Management and Wells Fargo Funds Distributor to handle its ETF business.

Wells Fargo executives said they have planned ETF options based on its quant credentials, crafting smart-beta or multifactor strategies that combine two ore more investment themes into a passive index-based security.

“We believe it’s a good time to take a look at things like low volatility, investing factor-based ETFs that are not so dependent on market-weighted stocks,” Kirk Hartman, global chief investment officer of Wells Fargo Asset Management, told Bloomberg. “Multifactors, to me, that’s the key to success.”

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