Advent Convertible Bond ETF (ACVT)

The Advent Convertible Bond ETF is an actively managed fund from Advent Capital Management, a New York-based investment firm that specializes in convertible securities. The fund invests primarily in convertible bonds, which are corporate debt instruments that can be exchanged for a set number of the issuer's common shares.

Convertibles combine features of bonds and stocks: they pay interest and have a claim on principal, while the conversion option lets their value rise with the underlying stock. Advent's team selects issues based on credit analysis, equity sensitivity and valuation, seeking a balance between income and participation in equity gains.

The ETF trades on NYSE Arca under the ticker ACVT.