First Trust Exchange -Traded Fund - FT Vest Silver Strategy & Target Income ETF
SLVY
Chicago Board Options Exchange- -
USD
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- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 120 East Liberty Drive, Suite 400 Wheaton IL United States of America 60187
- IPO Date
- Jul 9, 2026
- CIK
- 0001329377
- Similar Companies
- Business
- First Trust Exchange-Traded Fund – FT Vest Silver Strategy & Target Income ETF is an actively managed exchange-traded fund that seeks to provide current income and capital appreciation through an options-based strategy linked to silver. Trading on Cboe BZX under the ticker SLVY, the Fund invests principally in options contracts, including FLEX Options, referencing the iShares Silver Trust, short-term U.S. Treasury securities, cash and cash equivalents; it does not directly own physical silver. The Fund seeks partial participation in the price returns of the iShares Silver Trust by purchasing call options and selling put options and generates income through a partial covered-call strategy, including the monthly sale of at-the-money call options on the underlying ETF. The strategy is designed to convert a portion of potential silver-price appreciation into current option-premium income, while limiting participation in some upside movements of silver. SLVY targets an annual income level of approximately 4% before fees and expenses above the annual distribution rate of one-month U.S. Treasury securities. The Fund is a series of First Trust Exchange-Traded Fund, is advised by First Trust Advisors L.P., and is sub-advised by Vest Financial LLC. It is offered to U.S. investors through exchange-traded shares and is associated with First Trust’s Target Income ETF platform. The Fund was established in 2026, with inception and exchange trading commencing in July 2026. Its principal office is associated with First Trust Advisors L.P. in Wheaton, Illinois. The Fund’s most significant recent development is its launch by First Trust Advisors L.P. on July 9, 2026, expanding the FT Vest product suite with an income-oriented, silver-linked ETF that combines exposure to iShares Silver Trust options with short-duration U.S. Treasury instruments.