First Trust Launches XVSP Combining SpaceX Exposure With Target Income

First Trust has launched the FT Vest SPCX & Target Income ETF (XVSP), seeking current income alongside secondary capital appreciation through exposure to Space Exploration Technologies Corp. (SpaceX). The actively managed ETF will invest primarily in SpaceX common stock and options, including listed and FLEX options referencing the private aerospace company. XVSP can combine direct shares with synthetic exposure using puts, calls and U.S. Treasuries, while also employing box spreads, Treasuries and cash equivalents. At least 80% of assets will normally be allocated to SpaceX exposure and investments designed to generate income.