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QDTE
Roundhill Innovation-100 0DTE Covered Call Strategy ETF
Roundhill Financial Inc.
Verdict
Weighted score · Pro 🔒
Fund Identity
What it is, who runs it, where it lives.
The Fund's primary investment objective is to provide current income.
The Fund employs a synthetic covered call strategy that provides current income on a weekly basis while providing exposure to the price return of the Nasdaq-100 Index (referred to as the Innovation-100 Index). The Fund purchases deeply in-the-money call options on the Innovation-100 Index to achieve synthetic long exposure, and sells out-of-the-money 0DTE (zero days to expiration) call options on the Innovation-100 Index each business day to generate premium income. At least 80% of net assets are invested in financial instruments (options contracts) that utilize the Innovation-100 Index as the reference asset. The Fund also may hold short-term U.S. Treasury securities, money market funds, or a related ETF for additional yield on uninvested cash.
Ticker
QDTE
Issuer
Roundhill Financial Inc.
Exchange
BATS
Inception
2024-03-07 · 2.4 yrs
Mgmt style
Active
Replication
Derivatives (options/futures) — synthetic long via deep in-the-money index call options plus short 0DTE out-of-the-money index call options
Index-based
—
Leverage
None
Strategy & Options Mechanics
How the portfolio is built and where the income comes from.
PORTFOLIO
Options
actively managed
OPTIONS OVERLAY
Strategy
Synthetic Covered Calls — long deep-in-the-money calls for index exposure + short out-of-the-money 0DTE calls for income generation
generates income
Underlying
Nasdaq-100 Index (Innovation-100 Index)
income exposure
WEEKLY
44.6%
DIST. RATE
100% ROC
Ordinary Income
Ordinary Income
Underlying
Nasdaq-100 Index (Innovation-100 Index)
Strategy
Synthetic Covered Calls — long deep-in-the-money calls for index exposure + short out-of-the-money 0DTE calls for income generation
Tax
Ordinary Income
The Fund sells out-of-the-money 0DTE call options on the Innovation-100 Index at market open each business day to collect premium income, which is distributed to shareholders weekly. Synthetic long exposure to the index is achieved by purchasing deeply in-the-money call options rather than holding the underlying securities directly. The sale of short call options caps upside participation beyond the strike price of the sold calls.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · AUG '25 – AUG '26
AUG '25AUG '26
Flat-NAV reinvestment hurdle
65.2%
Share of each distribution you’d need to reinvest just to hold NAV flat. Higher means more of the yield is your own capital coming back.
Distribution & Tax
Where the yield comes from — and how it’s taxed.
Composition · Recent Distribution
100%
ROC
Return of Capital — mixed100%
Net Investment Income0%
Frequency
Weekly
Dist. rate
44.61%
ROC %
100%
30-day SEC
not reported
Consistency
2 w/o cut
YOC · 1yr-ago buyer
37.3%
Tax Treatment — Ordinary Income
ORDINARY INCOME
Distribution Composition (Recent)
ROC is not free money — it lowers your cost basis. When shares are sold, capital gains are computed against the lower basis.
Composition · Narrative
Per the fund's most recent 19a-1 notice (as stated on the issuer fund page), the estimated distribution is 100% return of capital.
Distribution Growth & Schedule
Per-period growth of the payout, the latest schedule, and how long distributions take to repay NAV.
Distribution Growth by Lookback Period
Latest Distribution Schedule
Record date
2026-08-06
Ex-dividend
2026-08-06
Pay date
—
Payback Period
2.2 yr
Dist. Since Incep.
$25.7
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs S&P 500
No sector feed for this fund.
Holdings
6
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
$30.2$27.3$24.4$21.5
AUG '25AUG '26
Price $29.65
50-DMA $29.23
200-DMA $26.92
Bullish — 50-DMA above 200-DMA
Price $29.65 is above the 200-day SMA ($26.92); 50-day SMA $29.23. The 50-day SMA sits above the 200-day — an established uptrend, no recent crossover. Moving-average signals are a timing aid, not a recommendation — weigh them against the distribution profile and framework score.
Liquidity
Avg daily volume
588K
Avg dollar volume
$18,592,813
Bid/ask spread
0.22%
Premium/discount
—
Turnover
41%
Estimated bid/ask spread ~0.22% (moderate). Average daily dollar volume ~$18.6M (liquid). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Falling. Source: shares×price (Massive, monthly).
AUM ($)
$970M
$970M$509M$48M
JUN '24AUG '26
SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.
QDTE · 2026-08-11
Prepared by Streamfolio
Research aid, not investment advice.
Prepared by Streamfolio
Research aid, not investment advice.