Newfleet Asset Management LLC launched a new exchange-traded fund called the Virtus Newfleet Dynamic Credit ETF.
The ETF combines corporate bonds and floating bank loans and is aimed at providing a high level of current income and capital appreciation. It is the company's second ETF launched in collaboration with Virtus ETF Solutions LLC and will trade on the NYSE under the symbol BLHY. In case market conditions warrant an exit from credit, the fund could allocate as much as 100% to U.S. Treasurys.
Newfleet Asset Management and Virtus ETF Solutions are affiliates of Virtus Investment Partners Inc.