First Trust Files AI Covered Call ETFs Tied to Anthropic and OpenAI

First Trust has filed for two actively managed covered call ETFs that would provide exposure to Anthropic and OpenAI while seeking to generate high monthly income. Each fund would combine direct stock ownership with synthetic exposure through options, write short-dated covered calls, and use Treasuries and box spreads to target annual distributions of approximately 15% above the S&P 500's dividend yield before fees and expenses. The nondiversified ETFs are designed to convert a portion of the underlying stocks' upside potential into income, which may limit gains during strong rallies.