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DFIIFT Vest Bitcoin Strategy & Target Income ETF

Get income1y track recordRanked #1,414 of 1,622 in this goal

Seeks partial participation in bitcoin returns while providing a high level of income.

By First Trust · Launched 2025

Annual Cost

0.85%

#4,336 of 5,562 · expensive

Fund Size

$20M

#4,349 of 5,562 · small

Dividend YieldGoal

25.66%

Track Record

1 year

#4,311 of 5,562 · young

Performance

Total-return NAV · USD
Growth of $10,000
$6,101-39.0%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Alternative

Strategy

Option income

What it actually holds

By weight

Concentration

Top 8 holdings = 98.4% of fundconcentrated

CBOE GLOBAL MARKETS, INC.XSP 3 P2754.16
1738.9%
Dreyfus Government Cash Management
1.4%
CBOE GLOBAL MARKETS, INC.MBTX 3 C310.13
0.5%
CBOE GLOBAL MARKETS, INC.XSP 3 C2582.03
0.1%
CBOE GLOBAL MARKETS, INC.XSP 3 C2754.16
-0.0%
CBOE GLOBAL MARKETS, INC.MBTX 1 C206.67
-0.4%
CBOE GLOBAL MARKETS, INC.MBTX 3 P310.13
-48.2%
CBOE GLOBAL MARKETS, INC.XSP 3 P2582.03
-1593.9%

Asset allocation

Stocks
98.8%
Cash
1.2%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
41.8%High

Year-on-year price swings

Max drawdown
-50.1%Severe

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Where to buy

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks partial participation in bitcoin returns while providing a high level of income.
Strategy
Invests primarily in options contracts referencing Bitcoin Exposure Instruments to gain exposure to bitcoin returns. Employs a partial covered call strategy to generate income, selling call options to convert some upside potential into premiums. The Fund does not invest directly in bitcoin and aims for income approximately 15% higher than one-month U.S. Treasury yields.
Inception date
April 2, 2025
Fund family
First Trust

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Covered call
Warning

Covered call ETF — yield ≠ total return

The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.

Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Why we flagged this: strategy=option_income + option_income_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-19