Data as of .
APRH vs TPAY: which paid, and which earned it?
APRH and TPAY both write options for income.
What they hold in common
By the books each fund has filed, APRH and TPAY hold 0% of their money in the same securities at the same weight.
| Only in APRH | Only in TPAY |
|---|---|
| TREASURY BILL 94.03% | SPY 03/12/2027 33.67 C 61.75% |
| TREASURY BILL 2.00% | SPY 04/16/2027 33.18 C 33.20% |
| TREASURY BILL 1.99% | SPYM 03/12/2027 3.33 C 5.05% |
| TREASURY BILL 1.98% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026 and Sep 18, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| APRH | TPAY | APRH | TPAY | APRH | TPAY | |
| 3 months | +1.3% | +1.5% | 2.1% | 2.4% | −0.9 pts | −0.8 pts |
| 6 months | +5.1% | +17.3% | 3.7% | 5.3% | −12.9 pts | −0.7 pts |
| 1 year | +6.5% | not published | 5.9% | not published | −10.1 pts | not published |
| 3 years | +22.5% | not published | 19.7% | not published | −55.9 pts | not published |
| Since launch | +28.3% | +11.0% | 22.2% | 5.8% | −65.3 pts | −0.8 pts |
| APRH Innovator Premium Income 20 Barrier ETF -- April Defined income on SPY, paying quarterly | TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF Option income on SPY, paying monthly | |
|---|---|---|
| Issuer | Innovator | Roundhill |
| Strategy | defined income | option income |
| Benchmark | S&P 500 (SPY) | S&P 500 (SPY) |
| Pays | quarterly | monthly |
| Payout rate, annualized | 8.3% | 9.5% |
| Expense ratio | 0.79% | 0.49% |
| Cash paid, 1 year | 5.9% | 5.8% (since launch on Feb 18, 2026) |
| Price change, 1 year | +0.3% | +4.9% |
| Total return, 1 year | +6.5% | +11.0% (since launch on Feb 18, 2026) |
| Benchmark return, 1 year | +16.6% | +11.8% |
| Ahead or behind | −10.1 pts | −0.8 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 1264 days | 212 days |
| Net assets | $25m | $2m |
APRH in plain words
Over the year to Sep 18, 2026, APRH paid 5.9% of its starting value in cash distributions while its price rose 0.3%. With every distribution reinvested, the fund returned +6.5%. S&P 500 (SPY) returned +16.6% over the same days, so a holder was behind by 10.1 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 8.3%, paid quarterly.
TPAY in plain words
Over the period since launch on Feb 18, 2026 to Sep 18, 2026, TPAY paid 5.8% of its starting value in cash distributions while its price rose 4.9%. With every distribution reinvested, the fund returned +11.0%. S&P 500 (SPY) returned +11.8% over the same days, so a holder was behind by 0.8 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 9.5%, paid monthly.
Questions people ask
- Which is cheaper, APRH or TPAY?
- APRH charges 0.79% a year and TPAY charges 0.49%, so TPAY is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, APRH against TPAY, data as of Sep 18, 2026. https://etfiq.com/compare/income/aprh-vs-tpay Free to use with attribution; the underlying files are at Open data.