KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF

Seeks to track, before fees and expenses, the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series. The Index strategy includes (1) buying the stocks contained in the S&P 500 Dividend Aristocrats Index, and (2) partially “writing” (or selling) monthly “covered” call options on each stock, generally on the last trading day of each month. The number of call options overwritten per unit of stock exposure is varied periodically, with the goal of generating a total yield from dividends and call option premiums that is 3.0% per annum higher than the yield from dividends of the S&P 500 Index. The percentage of each stock that is overwritten with call options will by design be less than 20% and will be adjusted to maintain the income target of 3.0% over the annual S&P 500 dividend yield. The S&P 500 Dividend Aristocrats Index consists of companies that are currently members of the S&P 500 and that have increased dividend payments each year for at least 25 years. The fund will seek to track the Index by purchasing an equally weighted portfolio comprising the optionable stocks in the S&P 500 Dividend Aristocrats Index, and writing exchange-traded monthly covered call options for a partial amount on each stock.

$49.32  -0.34 (-0.69%)
As of 03/23/2023 16:00:00 EST     IEX book   CBOE book

---

ETF Information

---

Sponsor:     CBOE Vest
Category1:  Alternatives
Category2:  Options
Category3:  Covered calls
Morningstar category:  Large Blend
Leverage factor:  1.00
Inception date:  03/27/2018
Index tracking method: Passive replication
Current yield:  4.15%
Historical average yield:  3.90%
Market cap:  $565,947,000
Average volume:  68,441
Fees:     0.7500%

---

Index Information

---

Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series
Index symbol:  SPATI
Provider:   CBOE
Note: Tracks a total return index
Index weighting:   Equal weighted
Index inception date:  03/02/2018
Backtesting data exists:   Yes
Number of holdings:  53  (as of 03/30/2018)