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XPAYRoundhill S&P 500 Target 20 Managed Distribution ETF

Get income1y track recordRanked #773 of 1,622 in this goal

Seeks to pay monthly capital distributions at an annualized rate of 20% while providing exposure to the S&P 500 Index.

By Roundhill Investments · Launched 2024

Annual Cost

0.49%

#2,404 of 5,562 · average

Fund Size

$148M

#2,575 of 5,562 · mid-size

Dividend YieldGoal

20.32%

Track Record

1 year

#3,913 of 5,562 · young

Performance

Total-return NAV · USD
Growth of $10,000
$12,447+24.5%

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

Classification

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Structured outcome

Index tracked

S&P 500 Index

What it actually holds

By weight

Concentration

Top 10 holdings = 93.8% of fundconcentrated

N/A
25.2%
N/A
15.2%
N/A
11.9%
N/A
8.7%
N/A
7.7%
N/A
6.8%
N/A
5.5%
N/A
5.1%
N/A
4.3%
N/A
3.4%

Asset allocation

Stocks
181.6%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
12.3%Moderate

Year-on-year price swings

Max drawdown
-18.2%Moderate

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 to pay monthly capital distributions at an annualized rate of 20% while providing exposure to the S&P 500 Index.
Strategy
Invests primarily in FLEX Options on the SPDR S&P 500 ETF Trust to achieve exposure to the S&P 500 Index. Aims to make monthly distribution payments equal to a 20% annualized rate.
Inception date
October 30, 2024
Fund family
Roundhill Investments

Our take

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

Buffer
Warning

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 2026-06-19