Millington Securities has launched its first smart beta exchange traded fund, the WBI Power Factor High Dividend ETF (WBIY), which is sub-advised by WBI Investments, a provider of institutional and private client wealth management strategies.
The fund seeks to provide investment results that correspond to the price and yield – before fees and expenses – of the Solactive Power Factor High Dividend Index, which the fund will be tracking.
“We’re introducing a smarter approach for yield starved investors at a time when the need for consistent capital growth and capital preservation is absolutely critical,” says Don Schreiber, co-author of All About Dividend Investing (McGraw Hill 2011). “As investors rush into the high-yield dividend space, we feel that WBIY will provide them with a smarter approach that pairs the search for high yielding stocks with a preference for only those companies with the strongest fundamentals.”
Millington Securities is already a significant participant in the ETF industry. When the firm helped launch a suite of 10 actively-managed ETFs in August of 2014, it achieved an historic milestone, surpassing USD1 billion in assets under management on the first day of trading. Earlier this year, Millington Securities launched its 11th ETF, WBI Tactical Rotation Shares (WBIR).
Millington Securities is a private label ETF adviser with broad SEC exemptive relief for active management, passive or index strategies, funds of funds and closed-end funds. When launching ETFs through its platform, Millington promotes the name and strategies of its investment management clients who serve as sub-advisers and portfolio managers.
