FT Vest S&P 500 Dividend Aristocrats Target Income ETF
ETF
KNG
Price as of:
$53.23
+ $0.03
+ 0.06%
Primary Theme
fund company
Name
As of 11/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
10.7%
1 yr return
17.3%
3 Yr Avg Return
4.5%
5 Yr Avg Return
8.8%
Net Assets
$2.82 B
Holdings in Top 10
16.1%
52 WEEK LOW AND HIGH
$53.2
$49.47
$55.00
Expenses
OPERATING FEES
Expense Ratio 0.75%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 11/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
KNG - Profile
Distributions
- YTD Total Return 10.7%
- 3 Yr Annualized Total Return 4.5%
- 5 Yr Annualized Total Return 8.8%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.65%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFT Vest S&P 500 Dividend Aristocrats Target Income ETF
-
Fund Family NameFirst Trust Advisors L.P.
-
Inception DateMar 26, 2018
-
Shares Outstanding9675000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerKaran Sood
Fund Description
The Fund will normally invest at least 80% of its total assets (including investment borrowings) in the securities that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Index is owned, developed, maintained and calculated by S&P Opco, LLC (the “Index Provider”). Vest Financial LLC is the Fund’s investment sub-advisor (“Vest” or the “Sub-Advisor”).The Index is a rules-based buy-write index designed with the primary goal of generating an annualized level of income from stock dividends and option premiums that is approximately 8% over the annual dividend yield of the S&P 500® Index and a secondary goal of generating capital appreciation.The Fund intends to make monthly distributions to shareholders, which will be comprised primarily of dividends and premiums received by Fund as described below. The Index's objective to deliver a target level of income could result in the Fund selling securities to meet the target, which could make the Fund less tax-efficient than other ETFs. The Index is composed of two parts: (1) an equal-weighted portfolio of the stocks contained in the S&P 500 Dividend Aristocrats Index thathave options that trade on a national securities exchange(the“Aristocrat Stocks”) and (2) a rolling series of exchange-traded short (written) call options on each of the Aristocrat Stocks (the “Covered Calls”). The S&P 500 Dividend Aristocrats Index includes companies in the S&P 500® Index that have increased dividend payments each year for at least 25 consecutive years and meet certain market capitalization andliquidity requirements.While the Fund seeks to make distributions that are above the current annual dividend yield of the S&P 500® Index,there is no guarantee that the Fund's distribution target will be achieved. The Fund does not seek to achieve any specific level of total return performance compared with the total return performance of the S&P 500® Index. Capital appreciation on the securities held by the Fund may be less than the capital appreciation of the S&P 500®Index, and the total return performance of the Fund may be less than the total return performance of the S&P 500® Index. In the event the value of the securitiesheld by the Fund exceeds the strike prices of the call options on such securities, the capital appreciation on such securities is expected to be less than the capital appreciation of the S&P 500®.A written (sold) call option gives the buyer the right to purchase, and the seller the obligation, to sell shares of the underlying asset at a specified price (“strike price”) at a specified date (“expiration date”). The writer (seller) of the call option receives an amount (premium) for writing (selling) the option. In the event the underlying asset appreciates above the strike price as of the expiration date, and the buyer exercises the option, the writer (seller) of the call option will have to either sell the stock at the strike price to the buyer or pay the buyer the difference between the value of the underlying asset and the strike price (which loss is offset by the premium initially received), and in the event the underlying asset declines in value, the call option may end up worthless and the writer (seller) of the call option retains the premium.In exchange for additional income in the form of a premium, the Fund will sell a call option on each of the stocks in the Index. If the value of a stock on the expiration date of the option is below the strike price, the option will not be exercised by the buyer and will expire. If the value of a stock on the expiration date is above the strike price, then the option finished “in the money.” Then, if the buyer exercises the option, the Fund either sells the stock at the strike price to the buyer or pays the buyer the difference between the strike price and the current market price of the stock. There may be times the Fund needs to sell securities when it would not otherwise do so in order to settle an option position, which could result in the distribution of premium from that option position being classified as a return of capital and make the Fund less tax-efficient than other ETFs.The Covered Calls are written (sold) by the Index on the third Friday of each month with an expiration typically on the third Friday of the following month and a strike price as close as possible to the closing price of the underlying Aristocrat Stock at the time the Covered Call is written. The Index employs a “partial covered call strategy,” meaning that Covered Calls will be typically written on a notional value less than the total value of each underlying Aristocrat Stock, such that the short position in each call option is “covered” by a portion of the corresponding Aristocrat Stock held by the Index, however, the notional value of the Covered Calls willnot exceed 100%of the value of each underlying Aristocrat Stock. The Index is a hypothetical portfolio of options and equity securities. As such, the Index cannot actually buy or sell an option or equity security, but the Index reflects the value of such transactions as if the Index could actually engage in them. The Fund intends to replicate the options positions expressed by the Index by writing a series of short (written) call options on each of the Aristocrat Stocks.The exact amount of Covered Calls written is based on a calculation designed to result in the Index generating income from (i) dividends from the Aristocrat Stocks and (ii) premiums from writing Covered Calls that is 8% higher annually than the total dividend yield of the S&P 500® Index constituents.While the Fund generally intends to replicate the Index, the Fund may invest up to 20% of its total assets (exclusive of any collateral held from securities lending) in securities or other investments not included in the Index, but which the Fund’s sub-advisor believes will help the Fund track the Index. For example, the Fund may invest in securities that are not components of the Index to reflect various corporate actions and other changes to the Index (such as reconstitutions, additions, and deletions) or in options with slightly different strike prices or expiration dates than the options components of the Index to maximize the Fund’s liquidity by utilizing a broader range of options, while maintaining the overall risk, return, and other characteristics of the Index.The equity portion of the Index is rebalanced quarterly and reconstituted annually and the Fund will make corresponding changes to its portfolio shortly after the Index changes are made public. The Fund’s strategy may involve frequently buying and selling portfolio securities. The Fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated. As of January 31, 2024, the equity component of the Index was composed of 67 securities. As of January 31, 2024, the Fund had significant investments in consumer staples companies and industrials companies, although this may change from time to time.The Fund's investments will change as the Index changes and, as a result, the Fund may have significant investments in jurisdictions or investment sectors that it may not have had as of January 31, 2024. To the extent the Fund invests a significant portion of its assets in a given jurisdiction or investment sector, the Fund may be exposed to the risks associated with that jurisdiction or investment sector.
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KNG - Performance
Return Ranking - Trailing
| Period | KNG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 10.7% | -10.0% | 41.5% | 94.53% |
| 1 Yr | 17.3% | 0.2% | 56.7% | 96.57% |
| 3 Yr | 4.5%* | -3.5% | 31.5% | 94.53% |
| 5 Yr | 8.8%* | 0.1% | 45.8% | 83.95% |
| 10 Yr | N/A* | 1.5% | 25.1% | 69.11% |
* Annualized
Return Ranking - Calendar
| Period | KNG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.2% | -16.9% | 46.1% | 82.21% |
| 2022 | -10.7% | -64.7% | 4.6% | 38.41% |
| 2021 | 20.2% | -44.2% | 57.5% | 32.44% |
| 2020 | 2.8% | -23.2% | 285.0% | 23.08% |
| 2019 | 21.3% | -21.4% | 48.5% | 35.33% |
Total Return Ranking - Trailing
| Period | KNG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 10.7% | -10.0% | 41.5% | 94.53% |
| 1 Yr | 17.3% | 0.2% | 56.7% | 96.57% |
| 3 Yr | 4.5%* | -3.5% | 31.5% | 94.53% |
| 5 Yr | 8.8%* | 0.1% | 45.8% | 83.95% |
| 10 Yr | N/A* | 1.5% | 25.1% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | KNG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.5% | -15.9% | 46.7% | 77.79% |
| 2022 | -7.1% | -42.0% | 8.5% | 63.55% |
| 2021 | 24.7% | 3.6% | 129.7% | 65.35% |
| 2020 | 7.2% | -22.6% | 304.8% | 21.30% |
| 2019 | 26.6% | -12.7% | 52.1% | 36.75% |
KNG - Holdings
Concentration Analysis
| KNG | Category Low | Category High | KNG % Rank | |
|---|---|---|---|---|
| Net Assets | 2.82 B | 126 K | 163 B | 30.97% |
| Number of Holdings | 133 | 2 | 1727 | 21.42% |
| Net Assets in Top 10 | 491 M | 433 K | 37.8 B | 40.99% |
| Weighting of Top 10 | 16.12% | 4.4% | 99.1% | 97.42% |
Top 10 Holdings
- Stanley Black Decker Inc 1.82%
- Cincinnati Financial Corp 1.62%
- Genuine Parts Co 1.61%
- Sysco Corp 1.60%
- Automatic Data Processing Inc 1.58%
- Nordson Corp 1.58%
- Chubb Ltd 1.58%
- Lowe's Cos Inc 1.58%
- Sherwin-Williams Co/The 1.57%
- A O Smith Corp 1.57%
Asset Allocation
| Weighting | Return Low | Return High | KNG % Rank | |
|---|---|---|---|---|
| Stocks | 100.81% | 7.19% | 103.40% | 1.19% |
| Cash | 0.18% | 0.00% | 36.15% | 88.79% |
| Preferred Stocks | 0.00% | 0.00% | 15.27% | 36.49% |
| Convertible Bonds | 0.00% | 0.00% | 3.66% | 33.06% |
| Bonds | 0.00% | 0.00% | 78.06% | 36.31% |
| Other | -0.99% | -2.59% | 36.68% | 99.54% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | KNG % Rank | |
|---|---|---|---|---|
| Industrials | 21.94% | 0.00% | 42.76% | 0.93% |
| Consumer Defense | 20.77% | 0.00% | 34.10% | 1.58% |
| Healthcare | 12.30% | 0.00% | 30.08% | 88.78% |
| Basic Materials | 11.57% | 0.00% | 21.69% | 1.86% |
| Financial Services | 10.80% | 0.00% | 58.05% | 95.64% |
| Consumer Cyclical | 8.20% | 0.00% | 22.74% | 21.24% |
| Utilities | 4.90% | 0.00% | 27.04% | 45.55% |
| Real Estate | 4.33% | 0.00% | 90.54% | 28.76% |
| Energy | 3.57% | 0.00% | 54.00% | 88.03% |
| Technology | 1.62% | 0.00% | 54.02% | 97.77% |
| Communication Services | 0.00% | 0.00% | 26.58% | 98.14% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | KNG % Rank | |
|---|---|---|---|---|
| US | 100.81% | 7.19% | 103.40% | 0.83% |
| Non US | 0.00% | 0.00% | 24.08% | 52.11% |
KNG - Expenses
Operational Fees
| KNG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.75% | 0.03% | 14.82% | 65.77% |
| Management Fee | 0.75% | 0.00% | 1.50% | 83.96% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 5.53% |
| Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
| KNG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 5.75% | N/A |
| Deferred Load | N/A | 0.95% | 5.00% | N/A |
Trading Fees
| KNG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| KNG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 488.00% | 81.38% |
KNG - Distributions
Dividend Yield Analysis
| KNG | Category Low | Category High | KNG % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 16.67% | 13.80% |
Dividend Distribution Analysis
| KNG | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Annual | Monthly | Annual |
Net Income Ratio Analysis
| KNG | Category Low | Category High | KNG % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.65% | -1.51% | 4.28% | 33.30% |
Capital Gain Distribution Analysis
| KNG | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Oct 22, 2024 | $0.393 | CapitalGainLongTerm |
| Sep 26, 2024 | $0.391 | OrdinaryDividend |
| Aug 21, 2024 | $0.380 | OrdinaryDividend |
| Jul 23, 2024 | $0.376 | OrdinaryDividend |
| Jun 27, 2024 | $0.373 | OrdinaryDividend |
| May 21, 2024 | $0.383 | OrdinaryDividend |
| Apr 23, 2024 | $0.374 | OrdinaryDividend |
| Mar 21, 2024 | $0.382 | OrdinaryDividend |
| Feb 21, 2024 | $0.374 | OrdinaryDividend |
| Jan 23, 2024 | $0.373 | OrdinaryDividend |
| Dec 22, 2023 | $0.380 | OrdinaryDividend |
| Nov 21, 2023 | $0.365 | OrdinaryDividend |
| Oct 24, 2023 | $0.358 | OrdinaryDividend |
| Sep 22, 2023 | $0.381 | CapitalGainLongTerm |
| Aug 22, 2023 | $0.555 | OrdinaryDividend |
| Jun 27, 2023 | $0.507 | OrdinaryDividend |
| Mar 24, 2023 | $0.510 | OrdinaryDividend |
| Dec 23, 2022 | $0.529 | OrdinaryDividend |
| Sep 23, 2022 | $0.502 | OrdinaryDividend |
| Jun 24, 2022 | $0.500 | OrdinaryDividend |
| Mar 25, 2022 | $0.516 | OrdinaryDividend |
| Dec 23, 2021 | $0.506 | OrdinaryDividend |
| Sep 23, 2021 | $0.491 | OrdinaryDividend |
| Jun 24, 2021 | $0.497 | OrdinaryDividend |
| Mar 25, 2021 | $0.480 | OrdinaryDividend |
| Dec 29, 2020 | $0.462 | OrdinaryDividend |
| Sep 23, 2020 | $0.441 | OrdinaryDividend |
| Jun 24, 2020 | $0.427 | OrdinaryDividend |
| Mar 25, 2020 | $0.394 | OrdinaryDividend |
| Dec 27, 2019 | $0.490 | OrdinaryDividend |
| Sep 25, 2019 | $0.386 | OrdinaryDividend |
| Sep 25, 2019 | $0.090 | CapitalGainLongTerm |
| Jun 19, 2019 | $0.466 | OrdinaryDividend |
| Mar 20, 2019 | $0.462 | OrdinaryDividend |
| Dec 27, 2018 | $0.164 | OrdinaryDividend |
| Dec 27, 2018 | $0.288 | CapitalGainShortTerm |
| Sep 26, 2018 | $0.464 | CapitalGainShortTerm |
| Jun 27, 2018 | $0.405 | OrdinaryDividend |
KNG - Fund Manager Analysis
Managers
Karan Sood
Start Date
Tenure
Tenure Rank
Mar 26, 2018
4.18
4.2%
CEO & Managing Director, Head of Product Development
Howard Rubin
Start Date
Tenure
Tenure Rank
Mar 26, 2018
4.18
4.2%
Mr. Rubin has over twenty years of experience as a portfolio manager. Mr. Rubin joined Cboe Vest in 2017. Prior to joining Cboe Vest, Mr. Rubin served as Director of Portfolio Management at ProShares Advisors LLC from December 2007 to September 2013. Mr. Rubin also served as Senior Portfolio Manager of ProFund Advisors LLC from November 2004 to December 2007 and Portfolio Manager of ProFund Advisors LLC from April 2000 through November 2004. Mr. Rubin holds the Chartered Financial Analyst (CFA) designation. Mr. Rubin received a master’s degree in Finance from George Washington University. He also holds a bachelor’s degree in economics from Wharton School of Finance, University of Pennsylvania.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.05 | 86.59 | 8.09 | 0.25 |