FT Vest TSLA & Target Income ETF (XVTS)

The FT Vest TSLA & Target Income ETF (XVTS) is an exchange-traded fund sponsored by First Trust and sub-advised by Vest Financial. It offers exposure to the stock of Tesla, Inc., the electric vehicle and energy storage company, while seeking a targeted level of income.

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

Because calls are written, the fund forgoes part of Tesla's upside in strong rallies while remaining exposed to declines in the stock.