MCVT ETF — Miller Convertible Total Return ETF

Miller Convertible Total Return ETF (MCVT)

Updated October 16, 2026.

MCVT is an ETF. its distribution rate is 0.36%, its trailing-12-month yield is 0.12%, its expense ratio is 0.85%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 6.3% over the past 0.6 years, 10.5 points behind SPY at 16.8%.

Miller Convertible Total Return ETF is an actively managed fund launched by Wellesley Asset Management on March 25, 2026. It invests in convertible securities and seeks total return while emphasizing capital preservation. It is unrelated to Mill City Ventures III, the former user of the MCVT ticker that became SUI Group Holdings.

MCVT performance versus SPY

Price and return data through 2026-10-16.

Total return is 6.3% over the past 0.6 years, 10.5 points behind SPY at 16.8%.

MCVT key facts

Distribution Safety Score™

50 · Unproven

Issuer

Wellesley Asset Management

Asset type

ETF

Asset class

Fixed Income

Inception date

03/25/2026

Listing date

03/25/2026

Expense ratio

0.85%

Distribution rate

0.36%

Distribution frequency

Quarterly

Trailing yield

0.12%

Last close

$26.58 (as of 2026-10-16)

AUM

$27,614,386

Market cap

$83,715,136

Average volume

106771.0

Dividend

$0.0236

Ex-dividend date

09/15/2026

Payment date

09/21/2026

Beta

1.334

How Dividend Vision calculates yield and returns

Distribution rate (0.36%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (0.12%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Wellesley Asset Management; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

MCVT risks and drawbacks

MCVT's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window.

Who may consider MCVT — and who may not

It is a weaker fit for investors who need monthly cash flow (MCVT pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on MCVT

• All tickers starting with M

Tagged: Fixed Income.

Frequently asked questions

More securities from Wellesley Asset Management.