Roundhill Ether Covered Call Strategy ETF
Key Statistics
Historical Performance
Total return including reinvested distributions, from adjusted closing prices.
Price History
Price history is being compiled for this fund.
Top Holdings
Top 8 holdings as of Mar 31, 2026 · source: SEC N-PORT. Full holdings & prospectus →
About YETH
The Fund seeks to achieve itsinvestment objectives through the use of a synthetic covered call strategy that provides current income on a weekly basis, while alsoproviding exposure to the price return of one or more exchange-traded funds (“ETFs”) that provide exposure to ether and whoseshares trade on a U.S.-regulated securities exchange, which includes ETFs that hold ether directly and ETFs that derive exposure to etherthrough investments in exchange-traded futures contracts that utilize ether as the reference asset (each, an “Ether ETF,”and collectively, the “Ether ETFs”). In effectuating its investment strategy, the Fund will purchase and sell a combinationof call and put option contracts that utilize an Ether ETF as the reference asset (“Ether ETF Options”). The Fund will investat least 80% of its net assets (plus any borrowings for investment purposes) in Ether ETF Options. For purposes of compliance with thisinvestment policy, derivative contracts will be valued at their notional value. The Fund’s sale of call Ether ETF Options (“EtherETF Call Options”) to generate income will potentially limit the degree to which the Fund will participate in any gains experiencedby the Ether ETFs. The Fund does not invest directly in ether. TheEther ETF Options the Fund utilizes in implementing its investment strategy will be traditional exchange-traded options contracts and/orFLexible EXchange® options(“FLEX Options”). The Fund will only invest in options contracts that are listed for trading on regulated U.S. exchanges.Traditional exchange-traded options have standardized terms, such as the type (call or put), the reference asset, the strike price andexpiration date. Exchange-listed options contracts are guaranteed for settlement by the Options Clearing Corporation (“OCC”).FLEX Options are a type of exchange-listed options contract with uniquely customizable terms that allow investors to customize key termslike type, strike price and expiration date that are standardized in a typical options contract. FLEX Options are also guaranteed forsettlement by the OCC. In general, an option is a contractthat gives the purchaser (holder) of the option, in return for a premium, the right to buy from (call) or sell to (put) the seller (writer)of the option the security underlying (in this case, an Ether ETF) the option at a specified exercise price. For physically settled options,the writer of an option has the obligation upon exercise of the option to deliver the underlying security upon payment of the exerciseprice (call) or to pay the exercise price upon delivery of the underlying security (put). For cash settled options, the writer of an optionhas the obligation upon exercise of the option to deliver cash equivalent to the difference between the strike price and the price ofthe underlying security. In a traditional covered callstrategy, an investor (such as the Fund) sells a call option on a security it already owns. However, although the Fund may hold some sharesof one or more Ether ETFs, it will primarily derive its exposure to Ether ETFs through Ether ETF Options. It is this distinction thatcauses the Fund’s strategy to be properly termed as a “synthetic covered call strategy” as opposed to a traditionalcovered call strategy, because the Fund primarily has synthetic exposure to an Ether ETF. The Fund’s synthetic exposure to EtherETFs is achieved through the combination of purchasing call options and selling put options generally at the same strike price which syntheticallycreates the upside and downside participation in the price returns of an Ether ETF. The Fund will primarily gain exposure to increasesin value experienced by the Ether ETFs through the purchase of Ether ETF Call Options. As a buyer of these options, the Fund pays a premiumto the seller of the options. The Fund will primarily gain exposure to decreases in value experienced by an Ether ETF through the saleof put Ether ETF Options (“Ether ETF Put Options”). As the seller of these options, the Fund receives a premium from the buyerof the options. In combination, the purchased Ether ETF Call Options and sold Ether ETF Put Options generally provide exposure to pricereturns of the Ether ETF(s) both on the upside and downside. As the primary means by whichthe Fund intends to generate income, the Fund will sell Ether ETF Call Options at a strike price that is out-of-the-money. However, itis important to note that the sale of these call options to generate income will limit the Fund’s ability to participate in increasesin value of the Ether ETFs beyond a certain point. If the value of the Ether ETFs increases, the above-referenced synthetic long exposurewould allow the Fund to experience similar percentage gains. However, if the value of the Ether ETFs appreciates in value beyond the strikeprice of one or more of the Ether ETF Call Options that the Fund has sold to generate income, the Fund will lose money on those shortcall positions, and the losses will, in turn, limit the upside return of the Fund’s synthetic long exposure. As a result, the Fund’soverall strategy (i.e., the combination of the synthetic long exposure to the Ether ETFs and the sold Ether ETF Call Options) willlimit the Fund’s participation in gains of the Ether ETFs beyond a certain point. This strategy effectively converts a portion ofthe potential upside price return growth of the Ether ETFs into current income. It is expected that the Ether ETF Call Options the Fundwill sell to generate options premiums will generally have expirations of approximately one week or less and will be held to or closeto expiration. The Fund intends to make weekly distribution payments to shareholders. In addition to the options contracts,the Fund will also invest in short-term U.S. Treasury securities and money market funds. The Fund may also directly hold shares of oneor more Ether ETFs. Due to certain tests that must be met in order to qualify as a registered investment company (“RIC”),the Fund may also utilize reverse repurchase agreements to help maintain the desired level of exposure to Ether ETF Options. The Fund is classified as “non-diversified”under the Investment Company Act of 1940 (the “1940 Act”). Additional InformationAbout the Ether ETFs The Fund expects to derive themajority of its exposure to Ether ETFs through Ether ETF Options that reference Ether ETFs that directly hold ether (“Spot EtherETFs”). Spot Ether ETFs are structured as Delaware statutory trusts that issue shares representing fractional undivided beneficialinterests in its net assets. Each Spot Ether ETF’s assets consist primarily of ether. The Spot Ether ETFs seek to generally reflectthe performance of the price of ether. The Spot Ether ETFs are not investment companies registered under the 1940 Act, and the sponsorsof the Spot Ether ETFs are not registered with the SEC as an investment adviser and are not subject to regulation by the SEC as such inconnection with its activities with respect to the Spot Ether ETFs. The Spot Ether ETFs are not a commodity pool for purposes of the CommodityExchange Act of 1936, as amended (the “Commodity Exchange Act” or “CEA”), and the sponsors are not subject toregulation by the CFTC as a commodity pool operator or a commodity trading advisor with respect to the Spot Ether ETFs. The Fund may also derive exposureto Ether ETFs through Ether ETF Options that reference ETFs that derive exposure to ether through investments in exchange-traded futurescontracts that utilize ether as the reference asset (“Ether Futures ETFs”). Ether Futures ETFs are registered under the 1940Act and do not invest directly in ether. Ether Futures ETFs seek to provide investment results that correspond to the performance of etherthrough investments in ether futures contracts. The ether futures contracts held by Ether Futures ETFs are standardized, cash-settledether futures contracts traded on commodity exchanges registered with the CFTC. Ether Futures ETFs generally seek to invest in cash-settled,front-month ether futures contracts. Certain Ether Futures ETFs gain exposure to ether by investing in ether futures contracts througha wholly-owned subsidiary of the fund organized under the laws of the Cayman Islands. Because such Ether Futures ETFs intend to qualifyfor treatment as a RIC under Subchapter M of the Internal Revenue Code of 1986 (the “Code”), such Ether Futures ETFs intendto invest no more than 25% of its total assets in the subsidiary at each quarter end of the fund’s tax year. An Ether Futures ETFmay also utilize reverse repurchase agreements during certain times of the year to help maintain the desired level of exposure to etherfutures contracts. Additional Informationon Ether Ether is a digital asset that is created and transmittedthrough the operations of the online, peer-to-peer Ethereum network, a decentralized network of computers that operates on cryptographicprotocols. No single entity owns or operates the Ethereum network, the infrastructure of which is collectively maintained by a decentralizeduser base. The Ethereum network allows people to exchange tokens of value, called “ether” or “ETH,” which arerecorded on a public transaction ledger known as a blockchain. Ether can be used to pay for goods and services, including computationalpower on the Ethereum network, or it can be converted to fiat currencies, such as the U.S. dollar, at rates determined on digital assettrading platforms or in individual end-user-to-end-user transactions under a barter system. Furthermore, the Ethereum network also allowsusers to write and implement smart contracts—that is, general-purpose code that executes on every computer in the network and caninstruct the transmission of information and value based on a sophisticated set of logical conditions. Using smart contracts, users cancreate markets, store registries of debts or promises, represent the ownership of property, move funds in accordance with conditionalinstructions and create digital assets other than ether on the Ethereum network. Smart contract operations are executed on the Ethereumblockchain in exchange for payment of ether. The Ethereum network is one of a number of projects intended to expand blockchain use beyondjust a peer-to-peer money system. The Ethereum network is decentralized in thatit does not require governmental authorities or financial institution intermediaries to create, transmit or determine the value of ether.Rather, following the initial distribution of ether, ether is created, burned and allocated by the Ethereum network protocol through aprocess that is currently subject to an issuance and burn rate. Among other things, ether is used to pay for transaction fees and computationalservices (i.e., smart contracts) on the Ethereum network; users of the Ethereum network pay for the computational power of the machinesexecuting the requested operations with ether. Requiring payment in ether on the Ethereum network incentivizes developers to write qualityapplications and increases the efficiency of the Ethereum network because wasteful code costs more. It also ensures that the Ethereumnetwork remains economically viable by compensating people for their contributed computational resources. Unlike other digital assets,such as bitcoin, which are solely created through a progressive mining process, 72.0 million ether or “ETH” were created inconnection with the launch of the Ethereum network.
YETH News
Data for YETH is aggregated from third-party providers (Tiingo, Nasdaq, Finnhub) and SEC filings, may be delayed at least 20 minutes, and may be incomplete or contain errors. Nothing here is investment advice. Verify with the official prospectus before investing.