QDTE
Roundhill Innovation-100 0DTE Covered Call Strategy ETF
2026-07-09
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BATS · Active · options-income
QDTE
Roundhill Innovation-100 0DTE Covered Call Strategy ETF
Roundhill Financial Inc.
Verdict
WATCH
Weighted score · 3.50 / 5
AUM
$918M
assets under mgmt
Avg Volume
663K
shares · daily
Distribution
42.8%
Weekly · 100% ROC
Expense Ratio
0.96%
0.96% gross
1Y Return
—
vs underlying
Sharpe
0.99
Max DD -22.9%
Fund Identity
What it is, who runs it, where it lives.
The Fund's primary investment objective is to provide current income.
The Fund uses a synthetic covered call strategy to provide current income on a weekly basis while also providing exposure to the price return of the Nasdaq-100 Index (Innovation-100 Index). The Fund purchases deep-in-the-money call options on the Innovation-100 Index for synthetic long exposure, and each business day sells out-of-the-money 0DTE (zero days to expiration) call options on the Innovation-100 Index 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 sale of call options limits upside participation above the strike price while converting a portion of potential index gains into current income.
Ticker
QDTE
Issuer
Roundhill Financial Inc.
Exchange
BATS
Inception
2024-03-07 · 2.3 yrs
Mgmt style
Active
Replication
Derivatives (options/futures) — synthetic long exposure via deep-in-the-money Innovation-100 Index call options plus daily sale of out-of-the-money 0DTE Innovation-100 Index call options; cash collateral in short-term U.S. Treasuries or money market funds
Index-based
— · Nasdaq-100 Index (referred to as the Innovation-100 Index; the Solactive GBS Global Markets All Cap USD Index TR is used as a broad-based securities market index comparison in the performance table)
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 call options (longer-dated) for index exposure + short out-of-the-money 0DTE call options sold daily for income
generates income
Underlying
Nasdaq-100 Index (Innovation-100 Index)
income exposure
WEEKLY
42.8%
DIST. RATE
100% ROC
Ordinary Income
Underlying
Nasdaq-100 Index (Innovation-100 Index)
Strategy
Synthetic Covered Calls — long deep-in-the-money call options (longer-dated) for index exposure + short out-of-the-money 0DTE call options sold daily for income
Tax
Ordinary Income
The Fund sells out-of-the-money 0DTE call options on the Innovation-100 Index at market open each business day, receiving premium income that is distributed weekly to shareholders. Synthetic long exposure to the index is achieved by purchasing deep-in-the-money call options with longer maturities. The sold 0DTE calls cap upside participation beyond their strike price but provide income that can partially offset index declines.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · JUN '25 – JUN '26
max DD -22.9% $31.51
JUN '25JUN '26
Max DD
-22.9%
Volatility
18.9%
Sharpe
0.99
Sortino
1.35
Calmar
1.67
Beta
0.86
Flat-NAV reinvestment hurdle
54.5%
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.
1Y vs Underlying
—
Tracking err.
—
Yield on cost
29.1%
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
42.84%
ROC %
100%
30-day SEC
not reported
Consistency
1 w/o cut
YOC · 1yr-ago buyer
39.5%
Tax Treatment — Ordinary Income
ORDINARY INCOME
Distribution Composition (Recent)
100% Return of Capital
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
-27.6% 1M -0.1% 3M -38.4% 6M -39.1% 1Y
Latest Distribution Schedule
Record date
2026-06-17
Ex-dividend
2026-06-17
Pay date
—
Payback Period
2.3 yr
Dist. Since Incep.
$27.4
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
$31.7$28.2$24.8$21.3
JUN '25JUN '26
Price $31.51
50-DMA $29.81
200-DMA $27.48
Bullish — 50-DMA above 200-DMA
Price $31.51 is above the 200-day SMA ($27.48); 50-day SMA $29.81. 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
663K
Avg dollar volume
$19,453,927
Bid/ask spread
0.22%
Premium/discount
—
Turnover
41%
Estimated bid/ask spread ~0.22% (moderate). Average daily dollar volume ~$19.5M (liquid). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Stable. Source: shares×price (Massive, monthly).
AUM ($)
$918M
$956M$502M$48M
JUN '24JUN '26
SOURCES  Massive market-data API, SEC EDGAR filings, issuer disclosures.
QDTE · 2026-06-22
Prepared by denvereyon
Research aid, not investment advice.