TOPW · Streamfolio

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BATS · Passive · options-income

TOPW

Roundhill Top WeeklyPay ETF

Roundhill Financial Inc.

Verdict

WATCH

Weighted score · 3.45 / 5

AUM

$172M

assets under mgmt

Avg Volume

73K

shares · daily

Distribution

9.4%

Weekly · 100% ROC

Expense Ratio

0.32%

0.61% gross

1Y Return

—

vs underlying

Sharpe

1.86

Max DD -11.0%

Fund Identity

What it is, who runs it, where it lives.

The Fund seeks to track the total return performance, before fees and expenses, of the Solactive Roundhill WeeklyPay™ Universe Index (the "Index")..

TOPW is a passive index ETF that invests at least 80% of its total assets in shares of Roundhill WeeklyPay™ ETFs comprising the Solactive Roundhill WeeklyPay™ Universe Index, using a full replication approach. The Index includes WeeklyPay™ Funds whose underlying securities rank among the top 25 constituents of the Solactive GBS United States 500 Index by market capitalization, rebalanced quarterly. Each underlying WeeklyPay™ Fund is actively managed and seeks approximately 1.2x (120%) the calendar week total return of its single-stock reference security via total return swaps and direct equity, while making weekly distributions. As of March 2026, the Index was concentrated in the information technology sector.

Ticker

TOPW

Issuer

Roundhill Financial Inc.

Exchange

BATS

Inception

2026-03-23 · 0.3 yrs

Mgmt style

Passive

Replication

Physical (full replication) of ETF constituents; underlying WeeklyPay™ Funds use Synthetic (swap-based) plus physical equity at 1.2x leverage

Index-based

true · Solactive Roundhill WeeklyPay™ Universe Index

Leverage

1.2x

Strategy & Options Mechanics

How the portfolio is built and where the income comes from.

PORTFOLIO

Hybrid

indexed

OPTIONS OVERLAY

Strategy

FLEX Options used by certain underlying WeeklyPay™ Funds to derive exposure to their Applicable Security

generates income

Underlying

Individual stocks (AAPL, AMZN, AVGO, BRKB, NFLX, NVDA, COST, GOOGL, META, MSFT, TSLA)

income exposure

WEEKLY

9.4%

DIST. RATE

100% ROC
Ordinary Income

Underlying

Individual stocks (AAPL, AMZN, AVGO, BRKB, NFLX, NVDA, COST, GOOGL, META, MSFT, TSLA)

Strategy

FLEX Options used by certain underlying WeeklyPay™ Funds to derive exposure to their Applicable Security

Tax

Ordinary Income

Certain underlying WeeklyPay™ Funds may utilize FLEX Options in addition to total return swaps and direct equity shares to gain exposure to their single-stock reference security. FLEX Options are exchange-listed but may face limited secondary market liquidity. The TOPW fund itself holds ETFs and does not directly hold options.

Performance & NAV

Total return vs. the underlying, with drawdown context.

NAV HISTORY · MAR '26 – JUN '26

MAR '26JUN '26

Max DD

-11.0%

Volatility

25.2%

Sharpe

1.86

Sortino

2.91

Calmar

—

Beta

—

Flat-NAV reinvestment hurdle

0.0%

Share of each distribution you’d need to reinvest just to hold NAV flat. 0% — the fund is covering its payout without eroding NAV.

1Y vs Underlying

—

Tracking err.

—

Yield on cost

9.7%

Distribution & Tax

Where the yield comes from — and how it’s taxed.

Composition · Recent Distribution

100%

ROC

Return of Capital — constructive100%

Net Investment Income0%

Frequency

Weekly

Dist. rate

9.43%

ROC %

100%

30-day SEC

not reported

Consistency

1 w/o cut

YOC · 1yr-ago buyer

9.7%

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

Latest Distribution Schedule

Record date

2026-06-16

Ex-dividend

2026-06-16

Pay date

—

Payback Period

10.6 yr

Dist. Since Incep.

$3.3

Holdings & Concentration

Position sizing, top-name weights, and concentration risk.

Sector Mix · Tilt vs S&P 500

No sector feed for this fund.

Holdings

Top-10 Wt.

—

Technical Signal & Liquidity

Moving-average posture and a read on tradability.

Price vs. Moving Averages

No moving-average series.

Price $35.27

50-DMA $—

200-DMA $—

Liquidity

Avg daily volume

73K

Avg dollar volume

$2,806,782

Bid/ask spread

0.26%

Premium/discount

—

Turnover

42%

Estimated bid/ask spread ~0.26% (moderate). Average daily dollar volume ~$2.8M (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: Rising. Source: shares×price (Massive, monthly).

AUM ($)

$172M

$257M$158M$59M

APR '25JUN '26

SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.

TOPW · 2026-06-22
Prepared by denvereyon
Research aid, not investment advice.