TPAYRoundhill S&P 500 Target 10 Managed Distribution ETF
Seeks to pay monthly return of capital distributions at an annualized rate of 10%.
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#5,573 of 5,573 · expensive
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#5,573 of 5,573 · small
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#5,573 of 5,573 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundRisk profile
Last 12 months · Sharpe & Sortino need 3+ yearsWorst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Where to buy
Listing
- Exchange
- Cboe BZX
Full fund details
- Objective
- Seeks to pay monthly return of capital distributions at an annualized rate of 10%.
- Strategy
- Invests primarily in SPY FLEX Options to provide exposure to the S&P 500 Index while making monthly distributions. The strategy targets investors seeking income while retaining S&P 500 exposure.
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Buffer ETF — downside protection at a cost
Defined-outcome funds cap upside (typically 8–20%) in exchange for partial downside protection (9–30%), priced via options. Fees are materially higher than the underlying index (often 0.70%+ vs 0.03–0.10%). For most pre-retirees, a simple stock/bond mix achieves similar downside behaviour at a fraction of the cost.
Source: Morningstar, 'Defined-Outcome ETFs: Useful or Uneconomic?' (2023)
Why we flagged this: strategy=structured_outcome + structured_outcome_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 2026-06-20