3 Under-the-Radar Monthly Dividend ETFs

Monthly dividend stocks are becoming increasingly popular, especially those that amplify their yields using options.

24/7 Wall Street • Nov 11, 2025

SPYT Vs. XPAY: Both Target 20% Yields But XPAY Offers Uncapped S&P 500 Returns

Today we'll compare the Defiance S&P 500 Income Target ETF (SPYT) and Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY), which both target a 20% annualized yield. SPYT uses a covered call spread strategy, capping upside and leading to NAV erosion, resulting in a Hold rating. XPAY buys deep in-the-money options, closely tracking S&P 500 returns and offering stable distributions, earning a Buy rating.

Seeking Alpha • Oct 7, 2025

XPAY: 20% Managed Distribution On S&P 500 Exposure

XPAY is a newer ETF offered by Roundhill, offering S&P 500 exposure through options and targeting a 20% annualized distribution rate, paid monthly. The fund's distributions are primarily return of capital, of which some portion will likely be destructive and erode NAV over time. With ROC distributions, though, that can be quite appealing for some investors as it can defer tax obligations.

Seeking Alpha • Apr 23, 2025

Roundhill Investments Announces 2024 Distributions for XPAY

NEW YORK , Nov. 5, 2024 /PRNewswire/ -- Roundhill Investments, an ETF sponsor focused on innovative financial products, has announced the following ETF distributions for the Roundhill S&P 500® Target 20 Managed Distribution ETF (XPAY). Based on the Fund's initial NAV and its 20% annualized distribution target, the Adviser has calculated a monthly distribution rate of $0.972333 for 2024.

PRNewsWire • Nov 5, 2024

Roundhill Investments Launches S&P 500® Target 20 Managed Distribution ETF (XPAY)

XPAY seeks to pay monthly return of capital distributions at an annualized rate of 20%. NEW YORK , Oct. 31, 2024 /PRNewswire/ -- Roundhill Investments, an ETF sponsor focused on innovative financial products, is pleased to announce the launch of the Roundhill S&P 500® Target 20 Managed Distribution ETF (XPAY), which begins trading on NYSE Arca today.

PRNewsWire • Oct 31, 2024

Roundhill Launches New S&P 500 Income ETF

On Thursday, Roundhill Investments launched its latest fund, the Roundhill S&P 500 Target 20 Managed Distribution ETF (XPAY).  The actively managed fund has a net expense ratio of 49 basis points.

ETF Trends • Oct 31, 2024