First Trust has expanded its exchange-traded fund (ETF) range with the launch of three single-stock target income ETFs linked to Tesla, Apple and Nvidia.

First Trust Advisors has launched three actively managed exchange traded funds (ETFs) that combine exposure to individual stocks with an income-focused options strategy. The ETFs target an annual distribution level of approximately 15% before fees and expenses The funds are the FT Vest TSLA & Target Income ETF (XVTS), the FT Vest AAPL & Target Income ETF (XVAP) and the FT Vest NVDA & Target Income ETF (XVNV), providing exposure to Tesla, Apple and Nvidia respectively. The ETFs a