FT Vest GOOG & Target Income ETF (XVGL)

The FT Vest GOOG & Target Income ETF (XVGL) is an exchange-traded fund sponsored by First Trust and sub-advised by Vest Financial. It offers exposure to Alphabet Inc., the parent company of Google, through its Class C shares, while seeking a targeted level of income.

The fund combines its Alphabet exposure with an options-based strategy, typically selling call options on the stock, to collect premium that supports regular distributions toward a stated target rate. The portfolio may include Treasuries and FLEX options.

Because it writes calls, the fund gives up part of Alphabet's upside during strong rallies while remaining exposed to declines in the share price.