Data as of .
TPAY vs XPAY: which paid, and which earned it?
TPAY and XPAY both write options for income.
What they hold in common
By the books each fund has filed, TPAY and XPAY hold 12% of their money in the same securities at the same weight.
| Holding | TPAY | XPAY |
|---|---|---|
| SPY 03/12/2027 33.67 C | 61.75% | 11.51% |
| Only in TPAY | Only in XPAY |
|---|---|
| SPY 04/16/2027 33.18 C 33.20% | SPY 02/12/2027 33.47 C 13.75% |
| SPYM 03/12/2027 3.33 C 5.05% | SPY 07/16/2027 36.7 C 11.79% |
| SPY 04/16/2027 33.87 C 11.49% | |
| SPY 06/11/2027 37.11 C 10.07% | |
| SPY 01/15/2027 33.21 C 6.96% | |
| SPY 12/11/2026 33.1 C 6.40% | |
| SPY 09/10/2027 37.99 C 5.57% | |
| SPY 05/14/2027 36.08 C 5.50% |
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 Sep 18, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| TPAY | XPAY | TPAY | XPAY | TPAY | XPAY | |
| 3 months | +1.5% | +2.0% | 2.4% | 5.0% | −0.8 pts | −0.3 pts |
| 6 months | +17.3% | +17.8% | 5.3% | 11.1% | −0.7 pts | −0.2 pts |
| 1 year | not published | +15.7% | not published | 19.9% | not published | −0.9 pts |
| Since launch | +11.0% | +34.7% | 5.8% | 37.5% | −0.8 pts | −2.3 pts |
| TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF Option income on SPY, paying monthly | XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF Option income on SPY, paying monthly | |
|---|---|---|
| Issuer | Roundhill | Roundhill |
| Strategy | option income | option income |
| Benchmark | S&P 500 (SPY) | S&P 500 (SPY) |
| Pays | monthly | monthly |
| Payout rate, annualized | 9.5% | 20.8% |
| Expense ratio | 0.49% | 0.49% |
| Cash paid, 1 year | 5.8% (since launch on Feb 18, 2026) | 19.9% |
| Price change, 1 year | +4.9% | −5.8% |
| Total return, 1 year | +11.0% (since launch on Feb 18, 2026) | +15.7% |
| Benchmark return, 1 year | +11.8% | +16.6% |
| Ahead or behind | −0.8 pts | −0.9 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 212 days | 687 days |
| Net assets | $2m | $179m |
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.
XPAY in plain words
Over the year to Sep 18, 2026, XPAY paid 19.9% of its starting value in cash distributions while its price fell 5.8%. With every distribution reinvested, the fund returned +15.7%. S&P 500 (SPY) returned +16.6% over the same days, so a holder was behind by 0.9 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 20.8%, paid monthly.
Questions people ask
- Which is cheaper, TPAY or XPAY?
- TPAY charges 0.49% a year and XPAY 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, TPAY against XPAY, data as of Sep 18, 2026. https://etfiq.com/compare/income/tpay-vs-xpay Free to use with attribution; the underlying files are at Open data.