RDTE
Roundhill Russell 2000 0DTE Covered Call Strategy ETF
2026-07-09
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BATS · Active · options-income
RDTE
Roundhill Russell 2000 0DTE Covered Call Strategy ETF
Roundhill Financial Inc.
Verdict
WATCH
Weighted score · 3.45 / 5
AUM
$164M
assets under mgmt
Avg Volume
97K
shares · daily
Distribution
44.2%
Weekly · 100% ROC
Expense Ratio
0.97%
0.97% gross
1Y Return
—
vs underlying
Sharpe
0.85
Max DD -24.3%
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 also providing exposure to the price return of the Russell 2000® Index. It purchases deeply in-the-money call options on the Russell 2000® Index for synthetic long exposure and, at market open each business day, sells out-of-the-money 0DTE (zero days to expiration) Russell 2000® Index call options to generate premium income. The Fund invests at least 80% of its net assets in financial instruments utilizing the Russell 2000® Index as the reference asset. It may also hold short-term U.S. Treasury securities, money market funds, or a related ETF for additional yield on uninvested cash.
Ticker
RDTE
Issuer
Roundhill Financial Inc.
Exchange
BATS
Inception
2024-09-10 · 1.8 yrs
Mgmt style
Active
Replication
Derivatives (options/futures) — synthetic covered call via long deep-in-the-money calls plus short 0DTE out-of-the-money calls on the Russell 2000® Index
Index-based
— · Russell 2000® Index (reference asset for options; not a tracking benchmark)
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 Call — long deep-in-the-money Russell 2000® Index call options (for synthetic long exposure) + short out-of-the-money 0DTE Russell 2000® Index call options (for income)
generates income
Underlying
Russell 2000® Index (RUT)
income exposure
WEEKLY
44.2%
DIST. RATE
100% ROC
Ordinary Income
Underlying
Russell 2000® Index (RUT)
Strategy
Synthetic Covered Call — long deep-in-the-money Russell 2000® Index call options (for synthetic long exposure) + short out-of-the-money 0DTE Russell 2000® Index call options (for income)
Tax
Ordinary Income
Each business day at or shortly after market open, the Fund sells out-of-the-money 0DTE Russell 2000® Index call options that expire at end of day to generate premium income. Synthetic long exposure to the Russell 2000® Index is obtained by purchasing deeply in-the-money call options with longer maturities. The sale of 0DTE calls caps the Fund's participation in Russell 2000® Index gains above the sold strike price, effectively converting a portion of potential upside into current income.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · JUN '25 – JUN '26
max DD -24.3% $29.17
JUN '25JUN '26
Max DD
-24.3%
Volatility
19.3%
Sharpe
0.85
Sortino
1.19
Calmar
1.23
Beta
0.84
Flat-NAV reinvestment hurdle
53.8%
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
30.7%
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
44.20%
ROC %
100%
30-day SEC
not reported
Consistency
2 w/o cut
YOC · 1yr-ago buyer
38.2%
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
+7.1% 1M +5.4% 3M -18.6% 6M -29.3% 1Y
Latest Distribution Schedule
Record date
2026-06-17
Ex-dividend
2026-06-17
Pay date
—
Payback Period
2.3 yr
Dist. Since Incep.
$23.8
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs S&P 500
No sector feed for this fund.
Holdings
5
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
$29.2$26.6$24.0$21.4
JUN '25JUN '26
Price $29.17
50-DMA $27.93
200-DMA $26.06
Bullish — 50-DMA above 200-DMA
Price $29.17 is above the 200-day SMA ($26.06); 50-day SMA $27.93. 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
97K
Avg dollar volume
$3,132,813
Bid/ask spread
0.23%
Premium/discount
—
Turnover
74%
Estimated bid/ask spread ~0.23% (moderate). Average daily dollar volume ~$3.1M (adequate). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Stable. Source: shares×price (Massive, monthly).
AUM ($)
$164M
$183M$108M$32M
SEP '24JUN '26
SOURCES  Massive market-data API, SEC EDGAR filings, issuer disclosures.
RDTE · 2026-06-22
Prepared by denvereyon
Research aid, not investment advice.