Wells Fargo is looking to enter the active ETF space

|About: Wells Fargo & Co. (WFC)|By:, SA News Editor

Wells Fargo (WFC) filed for permission with the SEC to build its own set of active ETFs, a natural first step from its mutual fund business into the ETF universe.

The Wells Fargo Advantage Ultra Short-Term Bond ETF is the initial fund proposed in the filling and will invest in short-term income-producing debt securities, including U.S. Government obligations, corporate debt securities, bank loans and mortgage- and asset-backed debt securities.

Details on the fund are still in the works, including the expense ratio, ticker symbol and proposed launch date.