Wellesley Asset Management Launches the Miller Convertible Total Return ETF (MCVT)

Rhea-AI Summary

Wellesley Asset Management (MCVT) launched the Miller Convertible Total Return ETF on March 25, 2026, an actively managed ETF seeking total return through convertible securities.

The fund targets current income plus capital appreciation with an emphasis on capital preservation, offering liquid, transparent access to the convertible asset class.

News Market Reaction – MCVT

+309.57%

1 alert

+309.57% News Effect

On the day this news was published, MCVT gained 309.57%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Reality Check

Price: $24.66 Vol: Volume 477,680 is 0.41x t...

low vol

$24.66 Last Close

Volume Volume 477,680 is 0.41x the 20-day average of 1,155,878, indicating muted trading activity before this news. low

Technical Price at 6.11 is trading above the 200-day MA of 2.41, reflecting a longer-term uptrend despite the recent pullback.

Peers on Argus

MCVT showed a -4.98% 24h move while close peers in Credit Services were mixed, w...

MCVT showed a -4.98% 24h move while close peers in Credit Services were mixed, with names like RM and YRD up modestly and XYF, PRAA, WRLD down. The lack of consistent direction and empty momentum scanner list suggests this move was stock-specific rather than sector-driven.

Market Pulse Summary

The stock surged +309.6% in the session following this news. A strong positive reaction aligns with ...

Analysis

The stock surged +309.6% in the session following this news. A strong positive reaction aligns with the launch of a new actively managed ETF targeting total return from convertible securities. The announcement highlighted a disciplined, convertible‑focused strategy and positioned MCVT as a liquid, transparent way to access this asset class. Investors weighing such a move would still need to consider overall market conditions, the fund’s risk‑reward profile, and how convertible exposure fits alongside existing holdings.

Key Terms

convertible securities, exchange‑traded fund, etf, convertible bonds

4 terms

convertible securities financial

"a leading investment advisory firm specializing in convertible securities, today announced"

Convertible securities are bonds or preferred shares that can be exchanged for a company’s common stock at a predetermined price or under specified conditions. They matter because they combine the steadiness of a loan or fixed dividend with the potential upside of ownership; like a safety‑net that carries a one‑time ticket to become a shareholder, they affect expected returns and can dilute existing stock if converted.

exchange‑traded fund financial

"an actively managed exchange‑traded fund seeking to deliver total return"

An exchange-traded fund (ETF) is a pooled collection of stocks, bonds or other assets that you can buy and sell on a stock exchange just like a single share. Think of it as a ready-made shopping basket of investments you can trade during the day, offering built-in diversification, typically lower costs than buying many individual securities, and easy access to sectors, themes or markets — features that help investors manage risk and trade efficiently.

etf financial

"The launch of MCVT brings our expertise to the ETF marketplace"

An ETF, or exchange-traded fund, is like a basket of different investments such as stocks or bonds that you can buy or sell easily on the stock market, just like a regular share. It allows people to invest in many companies at once, making it a simple way to grow savings without picking individual stocks.

convertible bonds financial

"MCVT, as an actively managed ETF, is an efficient way to access the exciting return profile of convertible bonds"

A convertible bond is a loan a company issues that pays regular interest and can be exchanged for a fixed number of the company’s shares under specified terms. It matters to investors because it combines the steady income and lower downside risk of a bond with the upside potential of owning stock—like holding a ticket that can be cashed for equity if the share price rises—affecting returns, risk, and shareholder dilution.

AI-generated analysis. Not financial advice.

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: press@wam.comWellesley 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/wellesley-asset-management-launches-the-miller-convertible-total-return-etf-mcvt-302724883.html

SOURCE Wellesley Asset Management

FAQ

What is the Miller Convertible Total Return ETF (MCVT) launched March 25, 2026?

MCVT is an actively managed ETF focused on convertible securities to pursue total return and income. According to Wellesley, the ETF aims to combine current income and capital appreciation while emphasizing capital preservation and convertible-focused discipline.

How does MCVT seek to balance income and growth for investors?

MCVT seeks to deliver current income plus capital appreciation via convertible securities. According to Wellesley, convertibles blend characteristics of stocks and bonds to offer upside participation with potentially lower volatility than pure equity portfolios.

What investor benefits does the Miller Convertible Total Return ETF (MCVT) claim to provide?

MCVT provides liquid, transparent access to the convertible asset class through an ETF wrapper. According to Wellesley, the fund offers a cost-efficient, disciplined convertible strategy intended to enhance resilience across market cycles.

Who manages the Miller Convertible Total Return ETF (MCVT) and what is their experience?

The ETF is managed by Wellesley Asset Management with portfolio oversight by Jim Buckham and CIO David Clott. According to Wellesley, the firm has decades of convertible investing experience and uses that expertise to run MCVT.

How does MCVT relate to Wellesley’s existing mutual fund lineup?

MCVT is positioned as a complementary ETF to Wellesley’s mutual funds, offering another way to access convertibles. According to Wellesley, the ETF expands distribution by providing a liquid, exchange-traded option alongside existing mutual fund strategies.