Bill Miller’s firm, Miller Value Partners, has filed with the Securities and Exchange Commission to launch two new actively traded exchange-traded funds (ETFs). The Miller Value Partners Appreciation ETF will invest in securities that the issuer believes have a high probability of outperforming the S&P 500 over a multi-year time horizon. The Miller Value Partners Leverage ETF will seek daily leveraged investment results that correspond to two times the performance of an underlying index and swaps linked to the performance of the S&P 500.
ETF Newz Says:
Miller lost much of his net worth during the 2008-09 housing crisis making big bets on Bear Stearns, but has since regained much of his wealth. He was known for his ability to outperform the SP 500.