● LAUNCHED Began trading Sep 23, 2026. Payment history will be charted here from the first distribution.
This fund is already trading; the payment watch is now waiting on its first distribution. A green LAUNCHED badge here means it's live and our launch tracker has logged it.
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What XVMS Does, Per the Filing
XVMS began trading on September 23, 2026, its first day on the tape. First Trust's own fund page gives it an expense ratio of 0.85%, gross and net, and an inception date of September 22, 2026. Those are different things: inception is the date a fund becomes effective, not its first day on the exchange. Three of the six opened on September 23 and the other three on September 24, so the single inception date on the fund pages does not describe when any of them actually started trading. The six cover AMD, Amazon, Alphabet, Microsoft, Meta and Palantir, and follow the 4 funds of the same family from August, bringing the group to 10.
The stated objective is current income, with capital appreciation second. The fund holds the stock alongside standardized listed options and FLEX Options on it, writing calls and puts, with an S&P 500 Mini Index box spread in the mix. That is an options-income design rather than the plain covered-call structure most single-stock income ETFs use, and it is why comparing it to a covered-call fund on headline yield alone will mislead you.
Microsoft is the steadiest business of the six, which makes it the least obvious candidate for an options-income fund. Steadier stock means cheaper options and thinner premium, so this is the name where the gap between an advertised strategy and the cash it actually produces tends to show up first.
No distribution has been declared and First Trust's fund page states no distribution frequency, so nobody can quote a yield for it yet, including anyone who publishes one this week. The first payment is the moment that settles the rhythm and the size, and our radar is watching for it; when it lands, every payment gets charted here from the first one.
MSFT already has an income fund with a real record: MSFO, paying since October 2023. Its full payment history, trailing totals and year-over-year change are charted and recomputed nightly on MSFO's page — the honest baseline to judge a brand-new fund against, since XVMS has no record of its own yet.
What Nobody Can Know Yet
XVMS is trading, but it has not paid yet, so there is no payment history, no real yield, and no evidence of how its strategy behaves in live markets — any number you hear before launch is a target or a guess. Filings also get delayed, renamed, or quietly abandoned; this page's status updates daily either way. When XVMS does launch, we chart every payment from its very first one, free.
One email the day a new income fund launches — nothing else, ever. We watch the issuers' own sites continuously; you hear before the videos exist.
Frequently Asked Questions
When did XVMS launch?
It launched Sep 23, 2026. our market-wide sweep of new US listings caught it the morning after it started trading, rather than its SEC registration. The status box above updates daily, and the launch tracker shows everything else on the runway.
What will XVMS pay?
Unknowable until it pays — there is no payment history yet and the filing promises no rate. The strategy is option-income, so distributions would depend on real option premiums once live.
Why run an income fund on a stock as stable as Microsoft?
Because the strategy sells options, and options on any stock carry some premium. The trade-off is that a calmer underlying produces less of it. That is not a flaw to be fixed, it is the mechanism working as designed, and it is why the payment record of the fund already doing this on Microsoft since October 2023 is more informative than any launch-week projection.