FT Vest PLTR & Target Income ETF (XVPT)

The FT Vest PLTR & Target Income ETF (XVPT) is an exchange-traded fund sponsored by First Trust and sub-advised by Vest Financial. It offers exposure to the shares of Palantir Technologies Inc., the data analytics and AI software company, while seeking a targeted level of income.

The fund combines its Palantir 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 Palantir's upside during strong rallies while remaining exposed to declines in the share price.