The team at a 42-year-old, Midwestern fund firm are rolling out their second ETF, less than three months after their first. (They also offer eight traditional mutual funds.)

James J. "Jim" Boyne Weitz Investment Management President

Yesterday (November 4), Jim Boyne, president of Weitz Investment Management, Inc. [profile], and Tom Carney and Nolan Anderson, co-heads of fixed income, revealed that the planned Weitz Multisecotr Bond ETF (WMSB on the NYSE Arca, Inc.) has arrived. Omaha, Nebraska-based Weitz serves as investment advisor to the new fund.

The Weitz team unveiled the planned WMSB back in August when debuting their first ETF, WCPB. That first ETF has since grown to $31 million in AUM*.

WMSB' inception date was yesterday. The new ETF comes with an expense ratio of 65 basis points (which bakes in a 24bps fee waiver promised through September 30, 2026) and has about $625,000 in AUM*.

Anderson and Carney, who already PM WCPB, now also serve as portfolio managers of WMSB, as expected.

Boyne puts the launch of WMSB in the context of advisors' search "for flexibility — in both investment approach and product structure." Carney notes that WMSB is powered by Weitz's "same disciplined, research-driven process."

"WMSB extends our active fixed income lineup in an ETF format and underscores our commitment to meeting investors where they are," Boyne states.

"With WMSB, we have the freedom to go where value exists — across sectors, durations, and credit qualities," Anderson states. "We're not anchored to benchmarks — we're focused on identifying compelling risk-adjusted opportunities wherever they emerge."

WMSB is an actively managed, non-diversified series of Northern Lights Fund Trust II. The new ETF's other service providers include:

Alston & Bird LLP as counsel;

Brown Brothers Harriman & Co. (BBH) as custodian, dividend disbursing agent, shareholder servicing agent, and transfer agent;

Tait, Weller & Baker LLP as independent accounting firm;

Ultimus Fund Solutions as administrator and fund accountant; and

Ultimus' Northern Lights Distributors, LLC as distributor.

*As of yesterday (November 4). 

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