First Trust Exchange-Traded Fund IV - FT Vest SPCX & Target Income ETF
XVSP
Chicago Board Options Exchange- -
USD
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- -
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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
- Aug 25, 2026
- CIK
- 0001517936
- Similar Companies
- Business
- First Trust Exchange-Traded Fund IV – FT Vest SPCX & Target Income ETF is an actively managed, non-diversified U.S. exchange-traded fund that seeks current income, with capital appreciation as a secondary objective, through concentrated exposure to Space Exploration Technologies Corp. (SpaceX) and an options-based income strategy. The fund invests primarily in SpaceX common stock and synthetic SpaceX exposure generated through combinations of purchased call options and written put options; sells short-dated, generally at-the-money call options to generate option-premium income; and may hold short-term U.S. Treasury securities, cash and cash equivalents, and box-spread option positions referencing the S&P 500 Index or broad-market ETFs. It seeks to distribute income monthly, targeting an annual distribution rate of approximately 15.0% before fees and expenses above the then-current annual dividend yield of the S&P 500 Index, although such target is not guaranteed and distributions may include return of capital. The fund is advised by First Trust Advisors L.P. and sub-advised by Vest Financial LLC, with First Trust Portfolios L.P. serving as an affiliate distributor; it is a separate series of First Trust Exchange-Traded Fund IV, a registered investment company headquartered in Wheaton, Illinois. The fund principally invests in U.S. public-equity and fixed-income markets and targets investors seeking high current income and partial participation in the price appreciation of SpaceX, while accepting substantial issuer concentration, derivatives, leverage, options, liquidity and market risks. Launched on August 25, 2026, the fund represents First Trust and Vest Financial’s recent expansion of their Target Income ETF lineup into a single-stock structured-income strategy centered on SpaceX; it was introduced under the FT Vest SPCX & Target Income ETF name and trades under the ticker XVSP.