FT Vest AMD & Target Income ETF (XVAD)

The FT Vest AMD & Target Income ETF (XVAD) is an exchange-traded fund sponsored by First Trust and sub-advised by Vest Financial. It provides exposure to the stock of Advanced Micro Devices, Inc., the designer of CPUs, GPUs and other semiconductors, while pursuing a targeted level of income.

The fund pairs its AMD-linked exposure with an options strategy, typically selling call options on the stock, to generate premium income that supports regular distributions toward a stated target rate. Holdings can include U.S. Treasuries and FLEX options alongside the equity exposure.

Writing calls limits the fund's participation in large price gains in AMD shares, while the fund remains exposed to declines in the stock.