AdvisorShares is launching a new actively managed exchange traded fund tomorrow.

AdvisorShares Newfleet Multi-Sector Income ETF (MINC) is a short duration bond ETF that will be subadvised by Virtus affilliate Newfleet Asset Management. The ETF will open for trading tomorrow.

"We feel investors and financial advisors in search of yield with an actively managed short duration bond ETF may find MINC as a desirable alternative to other short-term investment options," said Noah Hamman, chief executive officer of AdvisorShares, in a press release.

"The partnership with AdvisorShares on MINC also allows us to extend our distinctive investment capabilities to additional product structures," added David Albrycht, Newfleet president and chief investment officer.

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