Key Highlights
- VanEck has introduced the Wealth Builder ETF (WBMO), an actively managed fund investing across several asset classes.
- The portfolio combines U.S. and international stocks, bonds, real assets, and digital asset exchange-traded products (ETPs).
- WBMO targets 2% Bitcoin exposure, within a range of 1% to 5%, through ETPs rather than direct cryptocurrency holdings.
Asset management firm VanEck has introduced the Wealth Builder ETF (WBMO), an actively managed fund that allocates investments across stocks, bonds, real assets, and digital asset products. Its Multi-Asset Solutions team determines the portfolio’s allocations and adjusts them over time.
In an October 27 blog post, Michael Cohick, VanEck’s director of product management, described the fund as an option for investors seeking exposure to multiple asset classes through a single ETF.
WBMO combines four asset classes
WBMO allocates investments across equities, fixed income, real assets, and digital assets through underlying funds. Its equity holdings provide exposure to U.S. and international companies, while fixed-income investments add exposure to bond markets. Real assets include gold, natural resources, and infrastructure.
VanEck has set a target allocation of 7.5% for real assets, with a permitted range of 4% to 12%.
The fund also targets a 2% allocation to Bitcoin exposure, within a range of 1% to 5%. It obtains this exposure through digital asset ETPs rather than holding Bitcoin directly. VanEck warns that these products can experience significant volatility and may not offer the same investor protections as funds registered under the Investment Company Act of 1940.
VanEck team manages allocation and rebalancing
David Schassler, portfolio manager and head of Multi-Asset Solutions at VanEck, said the fund brings the firm’s multi-asset approach into a single product. “WBMO is designed to bring the discipline behind our multi-asset approach into a single ETF,” Schassler said.
The team selects underlying funds, sets their portfolio weights and adjusts allocations as needed. VanEck says it generally rebalances the portfolio quarterly. The firm has also identified semiconductors, quantum computing, natural resources, and infrastructure as investment themes. WBMO’s actual exposure to these areas will depend on its holdings and allocation decisions.
Fund charges: 0.26% net expenses after waivers
WBMO has a gross expense ratio of 0.33%, comprising a 0.15% management fee and 0.18% in estimated acquired fund fees and expenses. After a 0.07-percentage-point waiver, the net expense ratio falls to 0.26%. That equates to about $26 annually per $10,000 invested, compared with $33 at the gross rate. Brokerage fees and commissions are additional.
VanEck says it has agreed to waive management fees it collects from underlying funds under the stated arrangements. The adviser has also agreed to pay the fund’s offering costs until at least February 1, 2028. Other expenses, including certain trading costs, interest, taxes and extraordinary expenses, are treated separately under the fund’s disclosures.
Bitcoin exposure adds to the fund’s risks
WBMO’s performance depends on its underlying investments and the allocation decisions made by its managers. Its holdings may be affected by equity-market movements, interest rates, credit conditions, currency fluctuations, and commodity prices.
The digital asset allocation adds exposure to Bitcoin-linked products, which can experience sharp price movements and regulatory uncertainty. VanEck warns that investors could lose money and that the fund is not a bank deposit or insured or guaranteed by the Federal Deposit Insurance Corporation or another government agency. Diversification does not guarantee a profit or protect against losses.
VanEck’s earlier activity in crypto markets
The launch comes amid VanEck’s other activity in digital asset investment products and its analysis of crypto-related businesses.
In May 2026, VanEck had introduced a U.S. exchange-traded product providing exposure to BNB, the native token of the BNB Chain ecosystem. Unlike that product, WBMO combines exposure to several asset classes, including Bitcoin-linked ETPs.
In April 2026, The Crypto Times reported that a VanEck analyst urged MARA shareholders to reject the reelection of certain directors, arguing that the board lacked specialized experience for infrastructure expansion, including power procurement and large-scale project execution.
In September 2026, VanEck released its assessment of executive compensation at major Bitcoin treasury companies. According to the report, VanEck ranked Metaplanet worst among the 10 largest companies in the group on executive pay. Its analysis noted that Metaplanet’s original ¥10 executive option structure predated its transition into a Bitcoin treasury business but continued expanding as the company issued shares to acquire Bitcoin.
What investors should consider
WBMO puts allocation decisions in the hands of VanEck’s investment team rather than tracking a fixed index.
Investors therefore need to consider the manager’s decisions, the fund’s expenses and the risks associated with its underlying products, including its Bitcoin-linked investments.
Also Read: Ondo Brings 15 Tokenized Stocks to Robinhood Chain With Uniswap Pools