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Roundhill S&P 500 Target 10 Managed Distribution ETF (TPAY) Alternatives

ETF · Currency in USD · Last updated Jul 3, 2026

The ETF seeks to provide exposure to the return of the S&P 500 Index while targeting monthly return of capital distributions at an annualized rate of ten percent through an actively managed strategy.

Roundhill S&P 500 Target 10 Managed Distribution ETF (TPAY) belongs to the Derivative Income category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with TPAY. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to TPAY

TPAY charges 0.49% annually. There are 36 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.10%.

SymbolNameExpense RatioAUMInception
PEPS
Parametric Equity Plus ETF0.10%28.26MNov 2024TPAY vs PEPS
IVVW
iShares S&P 500 BuyWrite ETF0.25%307.07MMar 2024TPAY vs IVVW
SPIN
State Street US Equity Premium Income ETF0.25%45.12MSep 2024TPAY vs SPIN
FYEE
Fidelity Yield Enhanced Equity ETF0.28%185.18MApr 2024TPAY vs FYEE
PBP
Invesco S&P 500 BuyWrite ETF0.29%341.06MDec 2007TPAY vs PBP

Best Risk-Adjusted Alternatives to TPAY

Among 167 ETFs in the Derivative Income category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 95.

SymbolNameRisk / Return RankAUMInception
THTA
SoFi Enhanced Yield ETF
95
34.73MNov 2023TPAY vs THTA
CHPY
YieldMax Semiconductor Portfolio Option Income ETF
95
1.11BApr 2025TPAY vs CHPY
AMDY
YieldMax AMD Option Income Strategy ETF
93
413.17MSep 2023TPAY vs AMDY
GOOY
YieldMax GOOGL Option Income Strategy ETF
93
240.18MJul 2023TPAY vs GOOY
FTQI
First Trust Nasdaq BuyWrite Income ETF
89
904.92MJan 2014TPAY vs FTQI

Top Performing TPAY Alternatives (YTD)

Among 244 ETFs in the Derivative Income category with YTD return data, the top-performing alternatives shown here go as high as 228.85%.

SymbolNameYTD ReturnAUMInception
ARMW
Roundhill ARM WeeklyPay ETF
228.85%
22.82MOct 2025TPAY vs ARMW
AMDW
Roundhill AMD WeeklyPay ETF
174.56%
109.34MJul 2025TPAY vs AMDW
MRNY
YieldMax MRNA Option Income Strategy ETF
117.77%
118.18MOct 2023TPAY vs MRNY
AMDY
YieldMax AMD Option Income Strategy ETF
104.78%
413.17MSep 2023TPAY vs AMDY
CHPY
YieldMax Semiconductor Portfolio Option Income ETF
74.91%
1.11BApr 2025TPAY vs CHPY

Lowest Volatility Alternatives to TPAY

TPAY has 14.60% 1-year volatility. There are 98 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 2.92%.

SymbolNameVolatility 1YAUMInception
BUCK
Simplify Treasury Option Income ETF2.92%470.81MOct 2022TPAY vs BUCK
HYTI
FT Vest High Yield & Target Income ETF3.91%90.87MFeb 2025TPAY vs HYTI
FINY
GraniteShares YieldBOOST Financials ETF4.45%—May 2026TPAY vs FINY
BUYW
Main Buywrite ETF4.85%1.23BDec 2015TPAY vs BUYW
LQTI
FT Vest Investment Grade & Target Income ETF5.15%293.75MFeb 2025TPAY vs LQTI

Lowest Drawdown Alternatives to TPAY

Among 167 ETFs in the Derivative Income category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as -1.31%.

SymbolNameMax Drawdown 1YAUMInception
BUCK
Simplify Treasury Option Income ETF
-1.31%
470.81MOct 2022TPAY vs BUCK
HYTI
FT Vest High Yield & Target Income ETF
-2.38%
90.87MFeb 2025TPAY vs HYTI
BUYW
Main Buywrite ETF
-2.59%
1.23BDec 2015TPAY vs BUYW
THTA
SoFi Enhanced Yield ETF
-2.64%
34.73MNov 2023TPAY vs THTA
OMAH
VistaShares Target 15™ Berkshire Select Income ETF
-3.00%
774.36MMar 2025TPAY vs OMAH

Other ETFs from Roundhill

The 10 most viewed Roundhill ETFs shown here include MAGS, QDTE, CHAT and span 7 categories. AUM among these funds goes as high as $24B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
MAGS
Roundhill Magnificent Seven ETFTechnology Equities, Large Cap Growth Equities
27
-1.30%
3.36BApr 2023TPAY vs MAGS
QDTE
Roundhill Innovation-100 0DTE Covered Call Strateg...Derivative Income, Options Trading
62
12.25%
844.65MMar 2024TPAY vs QDTE
CHAT
Roundhill Generative AI & Technology ETFTechnology Equities
84
50.59%
2.04BMay 2023TPAY vs CHAT
XDTE
Roundhill S&P 500 0DTE Covered Call Strategy ETFDerivative Income, S&P 500
63
8.23%
320.07MMar 2024TPAY vs XDTE
YBTC
Roundhill Bitcoin Covered Call Strategy ETFCryptocurrency
2
-26.51%
122.59MJan 2024TPAY vs YBTC
DRAM
Roundhill Memory ETFTechnology Equities——24.43BApr 2026TPAY vs DRAM
MAGX
Roundhill Daily 2X Long Magnificent Seven ETFLeveraged Equities
20
-8.69%
43.98MFeb 2024TPAY vs MAGX
PLTW
PLTR WeeklyPay™ ETFDerivative Income
8
-34.66%
99.64MFeb 2025TPAY vs PLTW
MAGY
Roundhill Magnificent Seven Covered Call ETFDerivative Income
12
-7.32%
120.01MApr 2025TPAY vs MAGY
XPAY
Roundhill S&P 500 Target 20 Managed Distribution E...Derivative Income, S&P 500
58
9.54%
152.61MOct 2024TPAY vs XPAY

Often Compared With TPAY

Investors most often compare TPAY with OVL, USOY, NVDW. These 18 comparison targets span 5 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
OVL
Overlay Shares Large Cap Equity ETFDerivative Income
66
11.76%
182.90MSep 2019TPAY vs OVL
USOY
Defiance Oil Enhanced Options Income ETFDerivative Income
23
28.13%
51.49MMay 2024TPAY vs USOY
NVDW
Roundhill NVDA WeeklyPay ETFDerivative Income
20
2.81%
106.24MFeb 2025TPAY vs NVDW
QYLD
Global X NASDAQ 100 Covered Call ETFNasdaq-100, Derivative Income
87
8.73%
8.15BDec 2013TPAY vs QYLD
TDVI
FT Vest Technology Dividend Target Income ETFDerivative Income
39
15.63%
—Aug 2023TPAY vs TDVI
ULTI
REX IncomeMax Option Strategy ETFDerivative Income—
7.80%
36.55MOct 2025TPAY vs ULTI
GOOP
Kurv Yield Premium Strategy Google ETFDerivative Income
86
12.56%
22.71MOct 2023TPAY vs GOOP
IPDP
Dividend Performers ETFDerivative Income——20.88MDec 2018TPAY vs IPDP
QQA
Invesco QQQ Income Advantage ETFDerivative Income
64
11.72%
751.17MJul 2024TPAY vs QQA
TLTX
Global X Treasury Bond Enhanced Income ETFGovernment Bonds, Derivative Income—
0.41%
—Jul 2025TPAY vs TLTX
XRMI
Global X S&P 500 Risk Managed Income ETFDerivative Income, S&P 500
54
2.52%
49.43MAug 2021TPAY vs XRMI
EGGY
NestYield Dynamic Income ETFDerivative Income
33
28.62%
73.36MDec 2024TPAY vs EGGY
QDVO
Amplify CWP Growth & Income ETFDerivative Income
53
7.61%
711.93MAug 2024TPAY vs QDVO
SCHD
Schwab U.S. Dividend Equity ETFDividend
81
20.03%
96.43BOct 2011TPAY vs SCHD
TSMY
YieldMax TSM Option Income Strategy ETFDerivative Income
80
36.21%
119.09MAug 2024TPAY vs TSMY
GPIX
Goldman Sachs S&P 500 Premium Income ETFDerivative Income, S&P 500
72
9.55%
4.49BOct 2023TPAY vs GPIX
CWII
REX CRWV Growth & Income ETFDerivative Income——2.19MNov 2025TPAY vs CWII
HOII
REX HOOD Growth & Income ETFDerivative Income——1.44MNov 2025TPAY vs HOII

Compare TPAY with Any Fund or Stock

Compare TPAY with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair TPAY with funds that move differently

Roundhill S&P 500 Target 10 Managed Distribution ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to TPAY.

Explore TPAY Diversifiers