Miller Convertible Total Return ETF (MCVT) is a corporate-focused ETF that targets total return by combining current income and capital appreciation while emphasizing preservation of capital. The fund concentrates on convertible securities—hybrid corporate instruments that pay interest or dividends like bonds but can convert into equity—offering investors a mix of downside protection from fixed-income-like cash flows and upside participation in equity appreciation. MCVT’s investing scope is intentionally broad: it spans the corporate credit spectrum (from higher-rated investment-grade issues to lower-rated, higher-yielding convertibles) and across maturities (short, intermediate and longer-dated securities). This broad-credit, broad-maturities niche provides diversified exposure to convertible markets and allows the portfolio to capture income, capital gains from conversion or price swings, and potential volatility-driven opportunities. The strategy is designed for investors seeking a hybrid allocation between fixed income and equities—those looking for income with growth potential and a measure of capital preservation—while also serving as a diversifier to traditional bond or equity holdings. Investors should be aware convertible securities carry interest-rate, credit and equity-linked risks. The fund’s stated investment objective is non‑fundamental and may be changed upon 60 days’ written notice to shareholders.
Miller Convertible Total Return ETF (MCVT) Fund Flow Chart
Miller Convertible Total Return ETF (MCVT) 1 year Net Flows: 10M