FT Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) is an exchange-traded fund that seeks investment results corresponding generally to the price and yield performance, before fees and expenses, of the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series; the index tracks a hypothetical buy-write (covered call) strategy applied to the constituents of the S&P 500 Dividend Aristocrats Index, which comprises S&P 500 companies that have increased dividends for at least 25 consecutive years. The fund invests at least 80% of its net assets in the common stocks and corresponding call options that comprise the index, including securities across sectors such as consumer staples, industrials, health care, materials, financials, utilities, and others; top holdings include Albemarle Corp. (ALB), Cardinal Health Inc. (CAH), C.H. Robinson Worldwide Inc. (CHRW), and approximately 138 equity positions supplemented by short call options positions. It offers monthly distributions targeting enhanced income through dividend capture and option premiums while providing exposure to high-quality large-cap dividend growth stocks with an average market capitalization exceeding $100 billion, a portfolio beta of approximately 0.82, and diversification across approximately 140 holdings primarily in the United States. Launched on March 7, 2018, and domiciled in the United States with headquarters operations aligned to First Trust Advisors L.P. in Wheaton, Illinois, the ETF manages over $3.5 billion in assets under management as of late 2025 with an expense ratio of 0.75%. In March 2021, the fund underwent a reorganization whereby Cboe Vest transferred it to First Trust Exchange-Traded Fund IV, with Cboe Vest (now Vest Financial LLC) continuing as sub-advisor; more recently, in November 2025, First Trust launched a UCITS version of the ETF (First Trust Vest S&P 500 Dividend Aristocrats Target Income UCITS ETF) on the London Stock Exchange, expanding its availability to European investors and broadening geographic distribution beyond U.S. markets.