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XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF

Option income on SPY, paying monthly

Over the year to Sep 11, 2026, XPAY paid 20.1% in cash and still finished 0.7 points behind SPY.

Roundhill · Income ETFs · data as of

Key facts

20.1%Cash paid, 1 year, on its starting price
+16.8%Total return, 1 year
−0.7 ptsAgainst SPY
20.8%Latest payout, annualized

Method

ETFIQ Return Stability Score

55.5joint 61st of 162

XPAY paid 20.1% in cash. Its price fell 4.9%, so 24% of what you were paid came back out of your own capital.

Was the payout funded by returns, or by your own capital?

Against its benchmark
MLPD −38.1 ptsMDST −30.2 ptsSLTY −29.1 ptsBLOX −27.8 ptsEIPI −27.8 ptsYQQQ −27.6 ptsULTY −23.3 ptsGDXY −22.0 ptsHIGH −20.8 ptsTOPW −18.6 ptsTDVI −18.3 ptsYMAX −18.1 ptsHISF −17.3 ptsACKY −17.2 ptsRMIF −17.2 ptsWEEI −16.9 ptsNDIV −16.6 ptsLQDW −16.2 ptsOARK −15.8 ptsFDND −15.5 ptsTCAL −15.0 ptsQRMI −14.8 ptsSDVD −14.8 ptsLFGY −14.5 ptsSLJY −14.5 ptsSCLZ −14.1 ptsYFYA −13.9 ptsQUSA −13.5 ptsHYGW −13.0 ptsJULH −13.0 ptsXLRI −13.0 ptsMAGY −12.9 ptsYYY −12.7 ptsXLKI −12.6 ptsJULJ −12.4 ptsLJUL −12.4 ptsJANJ −12.3 ptsLJAN −12.3 ptsFGSI −12.2 ptsLOCT −12.1 ptsRNTY −12.1 ptsAIPI −12.0 ptsIWMY −12.0 ptsOCTJ −11.9 ptsHIPS −11.7 ptsJUCY −11.6 ptsXLEI −11.6 ptsAPRJ −11.3 ptsLAPR −11.3 ptsXISE −11.3 ptsXIJN −11.1 ptsCVRD −11.0 ptsJANH −11.0 ptsAPRH −10.9 ptsXBTY −10.7 ptsXIDE −10.7 ptsOCTH −10.6 ptsJEPI −10.3 ptsXIMR −10.1 ptsSRHR −9.7 ptsXRMI −8.7 ptsVEGA −8.3 ptsBUYW −8.2 ptsIAUI −7.9 ptsBAGY −7.7 ptsXV −7.5 ptsKHPI −7.3 ptsYBTC −7.3 ptsFTHI −7.0 ptsYLDE −6.8 ptsIGLD −6.1 ptsQQQI −6.1 ptsRDVI −6.0 ptsSPIN −5.9 ptsFEPI −5.8 ptsIWMW −5.8 ptsTYLG −5.7 ptsBITY −5.6 ptsSPUT −5.4 ptsWTPI −5.2 ptsPAPI −4.7 ptsXLVI −4.7 ptsETCO −4.3 ptsJEPQ −4.1 ptsCAIE −4.0 ptsFTKI −3.9 ptsGPTY −3.7 ptsIQQQ −3.7 ptsGIAX −3.4 ptsBIGY −3.3 ptsISPY −3.1 ptsRYLD −3.1 ptsWEEL −2.9 ptsYMAG −2.9 ptsRDTY −2.6 ptsXLBI −2.5 ptsNBOS −1.8 ptsRYLG −1.8 ptsSPYI −1.7 ptsFTQI −1.6 ptsKNG −1.6 ptsTSPY −1.6 ptsTHTA −1.5 ptsQQQY −1.3 ptsRDTE −1.3 ptsDIVO −1.2 ptsSIXH −1.2 ptsXYLD −1.2 ptsDFII −1.1 ptsGPIQ −1.1 ptsQDTY −1.1 ptsXYLG −1.1 ptsXDTE −0.9 ptsQDTE −0.7 ptsQYLD −0.7 ptsXLII −0.7 ptsEGGY −0.6 ptsJOYT −0.6 ptsSDTY −0.6 ptsWDTE −0.4 ptsBTCC −0.3 ptsQYLG −0.3 ptsGPIX 0.0 ptsDJIA +0.1 ptsDYLG +0.3 ptsIWMI +0.3 ptsKGLD +0.3 ptsXLFI +0.3 ptsIVVW +0.4 ptsLTTI +0.5 ptsLQTI +0.6 ptsPBP +0.6 ptsHYTI +0.9 ptsTDAQ +0.9 ptsCSHI +1.3 ptsBALI +1.4 ptsYETH +1.5 ptsHYBL +1.6 ptsXLUI +1.6 ptsCHPY +1.9 ptsBTCI +2.1 ptsSOXY +2.3 ptsITWO +2.5 ptsDOGG +2.7 ptsCEPI +2.9 ptsXLYI +2.9 ptsYBIT +2.9 ptsTLTP +3.4 ptsDUBS +4.0 ptsSEPI +4.7 ptsXLCI +5.2 ptsIDVO +5.4 ptsTLTW +5.4 ptsBCCC +6.3 ptsOMAH +6.5 ptsIDUB +6.9 ptsXLSI +8.8 ptsUSOY +10.5 ptsBUCK +10.9 ptsKLIP +20.9 ptsNVYY +24.6 ptsXPAY −0.7 ptsXPAY −0.7 pts−38.1 pts+24.6 pts

71.3% of the 162 sit at or below XPAY on this measure.

What happened to the principal
ETCO −75.0%XBTY −74.7%YETH −67.4%YBTC −61.4%BTCC −59.9%YBIT −58.9%BAGY −58.0%SLTY −54.4%ULTY −53.3%NVYY −52.4%BITY −51.9%BCCC −49.4%BTCI −46.9%DFII −44.8%LFGY −43.0%YMAX −41.0%BLOX −38.8%TOPW −36.6%OARK −33.3%KLIP −32.8%GDXY −32.5%YMAG −27.1%YQQQ −26.3%MAGY −25.8%IWMY −23.1%CEPI −21.0%RDTY −19.9%RDTE −19.4%QDTE −18.5%EGGY −15.1%TLTP −14.5%XLYI −14.1%LTTI −13.8%ACKY −13.7%WDTE −13.7%QQQY −13.0%QDTY −12.8%XDTE −12.8%AIPI −12.2%QUSA −11.8%LQTI −10.4%TLTW −10.3%SDTY −9.9%GIAX −9.8%XLUI −9.5%HIGH −9.3%LQDW −9.3%TCAL −9.0%FEPI −8.5%XV −8.4%IGLD −8.1%XLRI −8.0%XLCI −7.9%FDND −7.6%YYY −7.5%XLSI −7.3%RNTY −6.5%HYTI −6.3%GPTY −6.0%OMAH −6.0%XLBI −5.7%HYGW −5.6%IWMW −5.3%HIPS −5.2%HISF −4.7%QRMI −4.2%USOY −4.0%RMIF −3.9%XLFI −3.8%FGSI −3.2%BUCK −2.5%HYBL −2.5%JUCY −2.3%XRMI −2.3%MLPD −1.7%CAIE −1.6%IAUI −1.6%YFYA −1.6%IVVW −1.4%CVRD −1.3%JEPI −1.1%KNG −0.9%XIJN −0.7%JULJ −0.6%WTPI −0.5%CSHI −0.4%JULH −0.3%LJUL −0.2%XISE 0.0%JANH +0.1%JANJ +0.1%LAPR +0.1%LOCT +0.1%LJAN +0.2%OCTJ +0.2%XLII +0.2%APRJ +0.3%OCTH +0.3%XIDE +0.3%XIMR +0.4%APRH +0.5%TSPY +0.6%KHPI +0.7%BIGY +0.8%WEEL +0.9%SRHR +1.0%FTHI +1.1%QQQI +1.5%XLVI +2.1%SPYI +2.6%QYLG +2.8%YLDE +2.8%BUYW +2.9%SDVD +3.0%XYLG +3.4%KGLD +3.8%THTA +3.9%DJIA +4.2%FTKI +4.3%SCLZ +4.4%PAPI +4.5%RYLD +4.7%XLKI +5.0%PBP +5.1%IWMI +5.3%DYLG +5.4%TDAQ +5.9%XYLD +5.9%JEPQ +6.0%SPIN +6.1%NBOS +6.5%SPUT +6.5%RYLG +7.1%GPIX +7.9%FTQI +8.0%DOGG +8.2%ISPY +8.4%QYLD +8.4%DIVO +8.9%MDST +9.3%VEGA +9.4%BALI +9.5%GPIQ +9.8%SLJY +11.0%RDVI +11.7%TDVI +11.7%IQQQ +12.3%SEPI +13.8%XLEI +13.8%SIXH +14.1%ITWO +14.3%EIPI +14.6%JOYT +16.1%IDVO +16.4%DUBS +18.9%WEEI +18.9%IDUB +19.0%TYLG +21.2%NDIV +22.9%CHPY +24.9%SOXY +68.6%XPAY −4.9%XPAY −4.9%−75.0%+68.6%

39.8% of the 162 sit at or below XPAY on this measure.

Weighted evenly, those two positions are what the score combines, across the 162 income ETFs writing on an index or proxy. Neither spread above is the score: a fund can sit further right on one and score lower. A position in this set, not a rating: it moves when the set moves, and it is not a figure to average against another desk's.

What the score is computed from
What it measuresThis fundIts percentileWeight
against its benchmark−0.7 pts71.350%
what happened to the principal−4.9%39.850%

All income ETFs ranked by this score · How it is computed

11th of 71 income ETFs writing on SPY, by return against it 81st of 371 income ETFs by net assets

What a holder got

XPAY against SPYXPAY returned +16.8% with distributions reinvested against +17.5% for S&P 500 (SPY), a gap of −0.7 pts. Of that, 20.1% arrived as cash rather than price.+16.8%XPAY total return+17.5%S&P 500 (SPY)20.1% of it arrived as cash

Over the year to Sep 11, 2026, XPAY returned +16.8% with distributions reinvested and S&P 500 (SPY) returned +17.5%, so a holder came out behind it by 0.7 points. The lighter segment is the 20.1% that arrived as cash rather than as price.

Method

Period by period

XPAY over each window to Sep 11, 2026. Every figure is an ETFIQ calculation. Source: ETFIQ.
WindowCash paidPriceTotal returnSPYAhead or behind
3 months5.1%−1.8%+3.4%+3.3%+0.1 pts
6 months10.9%+4.6%+15.9%+16.0%−0.1 pts
1 year20.1%−4.9%+16.8%+17.5%−0.7 pts
Since launch37.5%−9.4%+35.0%+37.2%−2.2 pts

Method

When XPAY pays

XPAY pays monthly. The last distribution was $0.8995 a share, which went ex on Sep 9, 2026, with payment about 2 days later. The next has not been declared. On its own cadence of about 28 days the ex-date falls near Oct 7, 2026; that date is an ETFIQ projection, not the issuer’s.

Expected distributions for XPAY. Where the basis is a projection, ETFIQ has carried the fund’s own spacing forward from its last ex-date and held the amount at the last one paid; neither is an issuer statement. Source: ETFIQ.
Ex-datePay dateAmountBasis
Oct 7, 2026Oct 9, 2026$0.8995ETFIQ projection from the fund’s own cadence
Every distribution ETFIQ holds for XPAY (13, most recent first)
Cash distributions per share for XPAY. Source: ETFIQ from Tiingo end-of-day distributions.
Ex-dateAmount
Sep 9, 2026$0.8995
Aug 12, 2026$0.8995
Jul 8, 2026$0.8995
Jun 10, 2026$0.8995
May 13, 2026$0.8995
Apr 8, 2026$0.8995
Mar 11, 2026$0.8995
Feb 11, 2026$0.8995
Jan 14, 2026$0.8995
Dec 10, 2025$0.9528
Nov 12, 2025$0.9528
Oct 8, 2025$0.9528
Sep 10, 2025$0.9528

Every income ETF going ex-dividend in the next fortnight

Method

In plain words

Since it launched on Oct 31, 2024, XPAY has returned +35.0% with distributions reinvested, against +37.2% for S&P 500 (SPY), and has paid out 37.5% of its starting value in cash along the way. It pays monthly, and at its current price the latest distribution annualizes to 20.8%. No Rule 19a-1 notice has been published for this fund, so there is no issuer estimate of how much of its distributions was a return of capital.

XPAY (Roundhill S&P 500 Target 20 Managed Distribution ETF), income ETFs fields as of Sep 11, 2026. Source: ETFIQ.
Strategyoption income
BenchmarkS&P 500 (SPY)
Paysmonthly
Net assets (source, as filed for Jun 30, 2026)$155m
Latest payout, annualized (ETFIQ)20.8%
Expense rationot read by ETFIQ
Cash paid, last 12 months, over today’s price (ETFIQ)21.1%
LaunchedOct 31, 2024
Paysmonthly
Typical gap between ex-dates28 days
Typical wait from ex-date to payment2 days
Last paid, per share$0.8995 ex Sep 9, 2026
Sum of the last 12 distributions$10.9543

Every figure is an ETFIQ calculation from exchange prices and cash distributions (Tiingo end-of-day), total return with distributions reinvested. Return of capital is the issuer’s estimate. How these figures are computed

Questions people ask

How much has XPAY paid over the last year?
Over the year to Sep 11, 2026, XPAY paid 20.1% of its starting price in cash distributions, while the price fell 4.9%.
Is XPAY ahead of SPY?
Over the year to Sep 11, 2026, with every distribution reinvested, XPAY returned +16.8% against +17.5% for S&P 500 (SPY), so a holder was behind it by 0.7 points.
How often does XPAY pay, and how much?
XPAY pays monthly. The latest distribution annualizes to 20.8% at its price on Sep 11, 2026, which is not a promise; the next one can differ.
When does XPAY next pay a distribution?
XPAY pays monthly. The last distribution went ex on Sep 9, 2026 at $0.8995 a share. The next is not declared; on a cadence of about 28 days the ex-date falls near Oct 7, 2026, which is an ETFIQ projection. Payment usually follows the ex-date by 2 days.

The words on this page

Total return
What a holder actually ended up with: price change plus every distribution, reinvested. The only figure that answers whether you came out ahead.
Cash paid
Distributions over the window as a share of what the fund cost at the start. A measure of cash delivered, not of return: a fund can pay a great deal and still lose money.
Ahead or behind
The fund’s total return minus the benchmark’s over exactly the same days, in percentage points. Both sides reinvest.
Return of capital
The issuer’s own estimate, in a Rule 19a-1 notice, of how much of a distribution was your own money returned. An estimate and a tax characterization, not a measure of erosion.
Covered call
Selling call options on shares the fund holds. It collects a premium and gives up the gains above the strike, which is why these funds pay well and lag a rising market.

Every term used here, defined in full on the income ETFs vocabulary page.

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.

Funds near this one

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The payout bar for XPAY, redrawn every trading night. Free to use with the credit link.

XPAY payout bar, ETFIQ

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<p><a href="https://etfiq.com/funds/XPAY">XPAY payout bar, updated daily by ETFIQ</a></p>

Where XPAY is written about

XPAY, Income ETFs, ETFIQ, data as of Sep 11, 2026. Every figure is arithmetic on a named public source; the method is at etfiq.com/methodology. ETFIQ is an independent publisher, is not a fund issuer, broker-dealer or investment adviser, and makes no recommendations.
Use this data, or open the live card

Open XPAY live on ETFIQ, where the figures refresh with the data.

Cite this page. ETFIQ, XPAY, income ETFs, data as of Sep 11, 2026. https://etfiq.com/funds/XPAY Free to use with attribution; the underlying files are at Open data.

How these figures are computed · Standards and sources