Global Markets
Tradable Products
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Listed February 18, 2026
The Roundhill S&P 500 Target 10 Managed Distribution ETF (TPAY) is designed to pay monthly return of capital distributions to shareholders at an annualized rate of ten percent, while providing exposure to the S&P 500. TPAY is an actively-managed ETF.
There is no guarantee that the Fund will be able to manage its income so that all or a majority of its distributions will be return of capital.
Return of capital represents a return of a portion of a Fund shareholders invested capital and is not taxable in the year it is received unless the distribution exceeds a shareholders basis in the Fund. However, a return of capital may result in an increase in a later gain on a sale of Fund Shares or a reduction of a loss.
Because a significant portion of the Funds distributions will consist of return of capital, the Fund may not be an appropriate investment for investors who do not want their principal investment in the Fund to decrease over time or who do not wish to receive return of capital in a given period.
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Roundhill Investments is a U.S.-based investment adviser focused on developing innovative exchange-traded products. The firm's product lineup currently accounts for more than $1 billion in assets under management. To learn more about the company, please visit roundhillinvestments.com.
