XPAYRoundhill S&P 500 Target 20 Managed Distribution ETF
Seeks to pay monthly return of capital distributions at an annualized rate of 20% while providing exposure to the S&P 500 Index.
By Roundhill Investments · Launched 2024
0.49%
#2,473 of 5,854 · average
$155M
#2,575 of 5,854 · mid-size
1.68%
1 year
#3,820 of 5,854 · seasoned
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 10 holdings = 90.0% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks to pay monthly return of capital distributions at an annualized rate of 20% while providing exposure to the S&P 500 Index.
- Strategy
- Invests primarily in U.S.-listed large cap equity securities through SPY FLEX Options to provide exposure to the S&P 500 Index. Targets a 20% annual distribution rate, with a focus on maximizing return of capital for tax purposes.
- Inception date
- October 30, 2024
- Fund family
- Roundhill Investments
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
You can build this cheaper yourself
Defined-outcome funds cap your gains (often 8% to 20%) in exchange for cushioning losses by 9% to 30%, priced with options. The fee runs about 0.70% or more, against 0.03% to 0.10% for a plain index fund. For most investors, a simple stock-and-bond mix gives similar protection for far less.
Sources: Morningstar, 'Buffer Funds Are on the Rise, but They May Not Make Sense for Most Investors' (2025)
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 2026-08-03