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The Fund's primary investment objective is to pay monthly return of capital distributions to shareholders at an annualized rate of twenty percent (20%). The Fund's secondary investment objective is to provide exposure to the return of an index composed of U.S.-listed large cap equity securities. The Fund seeks to provide exposure to the return of the S&P 500 Index while making monthly distribution payments equal to an annualized rate of twenty percent (20%). The Fund intends to provide exposure to the S&P 500 Index through purchases of FLexible EXchange call options ("FLEX Options") that utilize the SPDR S&P 500 ETF Trust (NYSE ARCA: SPY) (the "SPY ETF") as the reference asset ("SPY FLEX Options"). The SPY ETF is an exchange-traded fund that seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500 Index. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in SPY FLEX Options. For purposes of compliance with this investment policy, the SPY FLEX Options will be valued at their notional value.
Roundhill S&P 500 Target 20 Managed Distribution ETF trades on the ARCA stock market under the symbol XPAY.
As of December 19, 2025, XPAY stock price climbed to $53.83 with 19,319 million shares trading.
XPAY has a beta of 1.02, meaning it tends to be more sensitive to market movements. XPAY has a correlation of 1.00 to the broad based SPY ETF.
XPAY has a market cap of $76.98 million. This is considered a Micro Cap stock.
XPAY has underperformed the market in the last year with a price return of +14.5% while the SPY ETF gained +18.1%. XPAY has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +2.5% and -0.6%, respectively, while the SPY returned +2.8% and -0.5%, respectively.
XPAY support price is $52.77 and resistance is $53.79 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that XPAY shares will trade within this expected range on the day.
