First Trust Launches Income-Focused Silver Options ETF

First Trust has launched the FT Vest Silver Strategy & Target Income ETF (SLVY), an actively managed ETF designed to provide both current income and exposure to silver prices. Managed by Vest Financial, the fund uses options on the iShares Silver Trust (SLV)—buying call options, selling put options, and writing monthly at-the-money covered calls—to capture part of silver’s upside while generating income. Rather than holding physical silver, SLVY also invests in short-term U.S. Treasuries, targeting annual income of approximately 4% above the one-month U.S. Treasury rate before fees and expenses.