At a glance
COIW charges 0.99% a year. It has $33.3M in assets; it paid 139.01% of its price in distributions over the past 12 months, monthly. Over the past year it returned −65.2% with distributions reinvested.
The short version
Roundhill COIN WeeklyPay ETF (COIW) uses swap contracts and Coinbase Global (COIN) shares to seek about 1.2 times COIN's weekly return, with leverage reset each week. It pays weekly distributions, which totaled 139% of its share price over the year to October 27, 2026, but Roundhill intends a significant portion to be return of capital. Return of capital hands back investors' own money, and the fund fell 75.1% from July 2025 to June 2026.
Price history
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COIW -65.2% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| COIW price data to Oct 27, 2026 | -37.9% | -65.2% | — | — | — | -35.8% |
- Over the year to Oct 27, 2026, COIW returned -65.2%.
- The deepest fall in its price history was 75.1% (Jul 18, 2025 to Jun 25, 2026), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -37.9% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $6.4700 |
What's inside
As of Jun 30, 2026, most of the fund sat in cash, Treasury bills and money-market holdings (0.39% of net assets), with its exposure coming from 1 swap and futures positions rather than from owning the stocks outright.
| Holding | Weight | |
|---|---|---|
| TREASURY BILL Bonds and notes | 170.89% | |
| Coinbase Global Inc | 6.02% |
By country
United States 176.92%By issuer
US Treasury 170.89%Companies 6.02%The bonds mature in 0 years on average (weighted by size), with an average coupon of 0%.
Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $16.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +8.20%, +0.36%, -27.39%.
How it works
COIW tracks no index. Roundhill actively manages it to pay weekly distributions and return about 1.2 times (120%) the calendar-week total return of Coinbase Global (COIN), the crypto platform operator. Exposure comes mainly from total return swaps, contracts in which a counterparty pays the fund COIN's return, plus some COIN shares.
At the close of each week's last trading day, exposure resets to about 120%. In a week COIN rises, the fund aims for a gain about 20% larger; in a down week, a loss about 20% larger. Over longer stretches, the weekly resets compound, which can pull results away from 1.2 times COIN's return, especially in choppy markets. The prospectus warns the fund could lose all its value if COIN falls 83.33% in one calendar week.
Most assets serve as swap collateral: short-term U.S. Treasury bills, Treasury ETFs and money market funds. As of June 30, 2026, Treasury bills equaled 171% of net assets and COIN shares 6%, offset by a COIN swap valued at -77%. A formula using COIN's recent return and implied volatility (expected price swings) sets each payout, so amounts vary weekly. Roundhill intends a significant portion to be return of capital, which hands back part of investors' own money; it generally isn't taxed when paid but can enlarge a later taxable gain.
What it really costs
- COIW charges 0.99% a year.
- Using the prospectus's standard example, $10,000 invested would cost about $101 in the first year and $1,213 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| COIW | $101 | $315 | $547 | $1,213 |
Structure and tax notes
- Resets its exposure every day. Over periods longer than a day, compounding means returns can differ sharply from 2× the index — usually worse in choppy markets. Built for short-term trading, not buy-and-hold.
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
Leveraged, weekly-reset exposure to a single crypto-linked stock, with 86.6% one-year volatility and a 75.1% peak-to-trough drop, makes it a tactical position rather than a long-term holding.
COIW launched on February 19, 2025, so it has no record through the 2008, 2020 or 2022 market declines and no full calendar year of results. It fell 75.1% from July 18, 2025 to June 25, 2026 and had not recovered as of October 27, 2026; based on market prices, it was down 65.2% over the year to that date. Anyone needing to cash out after such a drop would lock in deep losses. Weekly payouts over that year equaled about 139% of the share price, but Roundhill intends a significant portion to be return of capital, so spending them in a bad stretch draws down a shrinking stake. The 0.99% expense ratio works out to $101 on $10,000 in the first year under the SEC's standard example. Past results don't predict future ones, and a sound plan looks at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Active traders seeking about 1.2 times Coinbase's weekly return who understand that weekly resets can push longer-term results away from that multiple.
- Investors wanting weekly cash payouts who accept that amounts vary each week and that a significant portion is expected to be return of capital.
- Speculators wanting crypto-linked exposure through Coinbase who can absorb drops like the fund's 75.1% fall from July 2025 to June 2026.
Look elsewhere if
- Retirees needing dependable income: payouts change weekly, and return of capital hands back part of the original investment rather than paying out earnings.
- Anyone uneasy with big swings: the fund lost 65.2% in the year to October 27, 2026, and an 83.33% weekly COIN drop could erase it.
- Investors wanting diversification or low costs: it is non-diversified, built around a single stock, and charges a 0.99% annual expense ratio.
Close alternatives
Matched by leveraged/inverse funds on the same index (the index could not be identified from the name).
No close alternatives found.
Questions investors ask
Why is COIW's yield so high?
Its weekly payouts are large compared with a share price that has fallen sharply. Distributions totaled $9.80 per share over the year to October 27, 2026, about 139% of the share price, while the fund lost 65.2% over that year. A formula using COIN's recent total return and implied volatility (the price swings options markets expect) sets each payout, so amounts change weekly. Roundhill intends a significant portion to be return of capital, which hands back part of investors' own money rather than earnings.
Is COIW the same as owning Coinbase stock?
No. The prospectus states plainly that an investment in the fund is not an investment in COIN. COIW gets most of its exposure through swaps and resets it to about 1.2 times each week, so gains and losses in a given week run about 20% larger than COIN's, and longer-term results can stray further. Owning COIN directly carries no 0.99% fund fee, no swap counterparty risk and no weekly return-of-capital payouts.
Can COIW go to zero?
Yes. Because it carries about 1.2 times COIN's weekly exposure, the prospectus warns the fund may lose all of its value if COIN shares fall 83.33% over any calendar week. Even without that, losses have been deep: the fund fell 75.1% from July 18, 2025 to June 25, 2026 and had not regained its peak as of October 27, 2026. It also depends on swap counterparties honoring their contracts.
What is COIW's expense ratio?
COIW's expense ratio, the yearly cost taken from fund assets, is 0.99%, all of it management fee, according to the prospectus filed April 30, 2026. In the SEC's standard example, which assumes $10,000 invested, a 5% annual return and shares cashed out at the end of each period, costs would total $101 after one year, $315 after three, $547 after five and $1,213 after 10 years. Net assets were about $33.3 million as of June 30, 2026.
Is COIW good for retirement income?
It is a high-risk way to seek income. The weekly payouts are large, but they vary each week and Roundhill intends a significant portion to be return of capital, which hands back investors' own money. The fund launched February 19, 2025, so it has no record in the 2008, 2020 or 2022 downturns, and it lost 65.2% over the year to October 27, 2026. Its leverage and single-stock focus make it more of a trading tool than a core income holding.