Which is cheaper, SCLZ or TPAY?

SCLZ charges 0.79% a year and TPAY charges 0.49%, so TPAY is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

SCLZ vs TPAY: Dividend Yield & Total Return

SCLZ and TPAY both write options for income.

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Net assets: $20m on Jun 30, 2026 for Swan Enhanced Dividend Income ETF, and $2.1m on Nov 4, 2026 for Roundhill S&P 500 Target 10 Managed Distribution ETF.

SCLZ on its own →TPAY on its own →

At a glance

8.5%

SCLZ cash paid, 1 year

6.6%

TPAY cash paid, since launch, Feb 18, 2026

+10.6%

SCLZ total return, 1 year

+11.6%

TPAY total return, since launch, Feb 18, 2026

SCLZ · 1 year to Nov 4, 2026 4.2 pts behind SPY

SCLZ

+10.6%

SPY

+14.8%

4.2 pts behind SPY

SCLZ over 1 year: paid 8.5%, price +1.6%, total +10.6%, SPY +14.8%, −4.2 pts. Data to Nov 4, 2026.

SPY

+14.8%

SCLZ

+10.6%

8.5% of it arrived as cash

4.2 pts behind SPY

Total return, distributions reinvested

4.2 pts behind SPY

SCLZ over 1 year: paid 8.5%, price +1.6%, total +10.6%, SPY +14.8%, −4.2 pts. Data to Nov 4, 2026.

SPY

+14.8%

SCLZ

+10.6%

8.5% cash

4.2 pts behind SPY

8.5% of it arrived as cash. Total return, distributions reinvested. SCLZ over 1 year: paid 8.5%, price +1.6%, total +10.6%, SPY +14.8%, −4.2 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

TPAY · since launch to Nov 4, 2026 1 pt behind VOO

TPAY

+11.6%

VOO

+12.6%

1 pt behind VOO

TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.

VOO

+12.6%

TPAY

+11.6%

6.6% of it arrived as cash

1 pt behind VOO

Total return, distributions reinvested

1 pt behind VOO

TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.

VOO

+12.6%

TPAY

+11.6%

1 pt behind VOO

6.6% of it arrived as cash. Both charts share one scale, 0 to +14.8%. TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.

Both charts share one scale, 0 to +14.8%. Data to Nov 4, 2026.

Pair scorecard

TPAY costs 0.30 points a year less.

Points (pts) are percentage points.

SCLZ vs TPAY: Dividend Yield & Total Return
Measure	SCLZ	TPAY
Paid and earned
Measure	SCLZ	TPAY
Total return, 1 year	+10.6%	not published
Price change	rose 1.6% (1 year)	rose 4.6% (since Feb 18, 2026)
Return of capital, issuer estimate		100% of the Oct 15, 2026 payment
Against its benchmark
Measure	SCLZ	TPAY
Benchmark	S&P 500, measured through SPY	Vanguard S&P 500 ETF, measured through VOO
Against its benchmark, same days	behind by 4.2 pts	behind by 1.0 pts
Cost and size
Measure	SCLZ	TPAY
Expense ratio	0.79%	0.49%
Net assets, SCLZ as of Jun 30, 2026 and TPAY as of Nov 4, 2026	$20m	$2.1m
Holdings
Measure	SCLZ	TPAY
Holdings in common	0%

Method

What they share

By the books each fund has filed, SCLZ and TPAY hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 4, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first SCLZ TPAY

Only in one fund ↓

Only in SCLZ

MICRON TECHNOLOGY INC 7.95%

APPLE INC 6.20%

NVIDIA CORP 6.03%

ALPHABET INC 5.22%

ADVANCED MICRO DEVICES INC 5.18%

BROADCOM INC 4.74%

ELI LILLY & COMPANY 3.88%

AMAZON.COM INC 3.77%

Only in TPAY

SPY 03/12/2027 33.67 C 44.68%

SPY 04/16/2027 33.18 C 44.62%

SPYM 03/12/2027 3.33 C 6.11%

Check overlap with more funds →

Side by side

SCLZ Swan Enhanced Dividend Income ETF · Dividend stocks with call overlay on SPY, paying monthly TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF · Option income on VOO, paying monthly

Issuer Swan Roundhill

Strategy dividend stocks with call overlay option income

Benchmark S&P 500 (SPY) Vanguard S&P 500 ETF (VOO)

Pays monthly monthly

Payout rate, annualized 8.7% 9.5%

Expense ratio 0.79% 0.49%

Cash paid, 1 year 8.5% 6.6% (since launch, Feb 18, 2026)

Price change, 1 year +1.6% +4.6% (since launch, Feb 18, 2026)

Total return, 1 year +10.6% +11.6% (since launch, Feb 18, 2026)

Benchmark return, 1 year +14.8% +12.6% (since launch, Feb 18, 2026)

Ahead or behind −4.2 pts −1.0 pts (since launch, Feb 18, 2026)

Return of capital, latest estimate not published 100%

Age 2.7 years 259 days

Net assets, SCLZ as of Jun 30, 2026 and TPAY as of Nov 4, 2026 $20m $2.1m

As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.

Window by window

Window by window: SCLZ vs TPAY: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	SCLZ	TPAY	SCLZ	TPAY	SCLZ	TPAY
3 months	0.0%	−0.8%	2.1%	2.3%	+0.2 pts	−0.7 pts
6 months	+4.4%	+4.2%	4.3%	4.7%	−0.6 pts	−0.8 pts
1 year	+10.6%	–	8.5%	–	−4.2 pts	–
Since launchNot the same days: SCLZ Feb 2024 · TPAY Feb 2026	+35.4%	+11.6%	21.2%	6.6%	−20.8 pts	−1.1 pts

– means no data for this window. Open this comparison in the app →

Alert

About each fund

SCLZ

Over the year to Nov 4, 2026, SCLZ paid 8.5% of its starting value in cash distributions while its price rose 1.6%. With every distribution reinvested, the fund returned +10.6%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 4.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 8.7%, paid monthly.

TPAY

Over the period from its first trade on Feb 18, 2026 to Nov 4, 2026, TPAY paid 6.6% of its starting value in cash distributions while its price rose 4.6%. With every distribution reinvested, the fund returned +11.6%. Vanguard S&P 500 ETF (VOO) returned +12.6% over the same days, so a holder was behind by 1.0 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 9.5%, paid monthly. Roundhill estimates that 100% of the distribution paid Oct 15, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

Questions people ask

Which is cheaper, SCLZ or TPAY?: SCLZ charges 0.79% a year and TPAY charges 0.49%, so TPAY is cheaper. Fees come from each fund's prospectus.

Other comparisons

SCLZ vs SDTY SCLZ vs TSPY SCLZ vs LJUL SCLZ vs LAPR TPAY vs BIGY TPAY vs ACKY TPAY vs SPIN TPAY vs ACSP

Where to next

S&P 500 (SPY) →Vanguard S&P 500 ETF (VOO) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →SCLZ on its own →TPAY on its own →SCLZ dividend history →SCLZ holdings →TPAY dividend history →TPAY holdings →Method →Standards and sources →

Sources and dates

SCLZ filings on SEC EDGAR ↗

SCLZ prospectus with the expense ratio (SEC) ↗

Swan website ↗

TPAY filings on SEC EDGAR ↗

TPAY prospectus with the expense ratio (SEC) ↗

TPAY 19a-1 distribution notice ↗

Roundhill page for TPAY ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, SCLZ against TPAY, data as of Nov 4, 2026. https://etfiq.com/compare/income/sclz-vs-tpay

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.