At a glance
NVDW charges 1.0% a year. It has $110.1M in assets; it paid 49.81% of its price in distributions over the past 12 months, monthly. Over the past year it returned +10.4% with distributions reinvested.
The short version
Roundhill NVDA WeeklyPay ETF (NVDW) is an actively managed fund that uses total return swaps and NVIDIA shares to aim for about 1.2 times NVIDIA's weekly total return. It also pays a distribution every week. Its trailing 12-month yield was 49.81% as of October 27, 2026, but the adviser intends much of each payout to be a return of investors' own capital. It costs 1.00% a year and carries leveraged, single-stock risk.
Price history
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NVDW +10.4% 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 | |
|---|---|---|---|---|---|---|
| NVDW price data to Oct 27, 2026 | +15.3% | +10.4% | — | — | — | +27.4% |
- Over the year to Oct 27, 2026, NVDW returned +10.4%.
- The deepest fall in its price history was 39% (Feb 20, 2025 to Apr 4, 2025), recovered by Jun 24, 2025.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +15.3% |
| 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) | $13.1000 |
What's inside
As of Jun 30, 2026, the fund held 2 securities; the ten largest made up 83.31% of assets, and 5.63% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| TREASURY BILL Bonds and notes | 67.14% | |
| NVIDIA Corp | 16.16% |
By country
United States 83.31%By issuer
US Treasury 67.14%Companies 16.16%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 $252K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +16.92%, +6.44%, -6.62%.
How it works
Roundhill Investments manages NVDW actively. It does not track an index. The fund aims to earn about 120% of the calendar-week total return of NVIDIA (NVDA) common shares. In a week when NVIDIA rises, the fund should gain about 20% more than the stock. In a down week, it should lose about 20% more. At the close of the last trading day each week, exposure is reset to about 1.2 times. Over periods longer than a week, the fund's return can drift away from 1.2 times NVIDIA's.
The fund gets this exposure from NVIDIA shares and a total return swap. A total return swap is a contract in which a financial firm pays the fund NVIDIA's return in exchange for a fee. As of June 30, 2026, US Treasury bills made up 67.1% of assets, NVIDIA stock 16.2%, the swap 11.2% and cash 5.6%. The Treasury bills and cash mainly serve as collateral for the swap, so this is not a bond fund. Turnover was 59%.
Each week's payout comes from a formula based on NVIDIA's recent return and its implied volatility, which is the options market's estimate of future price swings. That means payouts change from week to week. The fund never takes defensive positions. It could lose all its value if NVIDIA fell 83.33% in a single week.
What it really costs
- NVDW charges 1% a year.
- Of that, 0.99% is the management fee; the rest covers other fund expenses.
- 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 |
|---|---|---|---|---|
| NVDW | $101 | $315 | $547 | $1,213 |
Structure and tax notes
- 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
It is a leveraged, non-diversified bet on a single company, so at most it fits as a small position next to diversified core holdings.
NVDW launched on February 19, 2025. It has no record through the 2008, 2020 or 2022 downturns and no full calendar year of results. Its deepest drop was 39%, from February 20 to April 4, 2025. It recovered by June 24, 2025, about 2.7 months later. For the year to October 27, 2026, its volatility was 43.9% and its beta was 2.3, meaning it moved about 2.3 times as much as the market. A retiree forced to sell during a slump like that would lock in a large loss. The 49.81% trailing yield is paid weekly, but much of it is meant to be return of capital, so big payouts can shrink the investment itself. Under the SEC's standard example, costs are $101 in the first year on $10,000. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want about 1.2 times NVIDIA's weekly return and accept losses about 20% larger than the stock's in down weeks.
- People who want frequent cash payouts and understand that weekly amounts vary and are largely intended as return of capital, not earnings.
- Those holding a small satellite position next to diversified core funds who accept paying 1.00% a year for the swap-based structure.
Look elsewhere if
- Anyone who needs steady, predictable income: payouts shift each week with NVIDIA's returns and implied volatility, and they can wear down principal.
- Investors who want diversification: the fund is non-diversified and tied to one semiconductor company through swaps and shares.
- Those who want a long track record: it launched in February 2025, fell 39% within weeks and has never been through a full bear market.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
No close alternatives found.
Questions investors ask
Does NVDW pay weekly dividends?
Yes. Paying weekly distributions is the fund's main objective, according to its prospectus. The amount comes from a formula that uses NVIDIA's recent return and implied volatility, so each payment can differ from the last. Over the 12 months to October 27, 2026, distributions totaled $16.99 per share, a trailing yield of 49.81%. The adviser intends much of each payment to be return of capital rather than dividend income, although it cannot promise this.
Is NVDW's high yield sustainable?
There is no guarantee. The 49.81% trailing yield as of October 27, 2026 is not a sign of matching earnings. The adviser intends much of each payout to be return of capital, which hands back part of your own money. Return of capital isn't taxed when you receive it, but it lowers your cost basis and can raise your taxable gain when you sell. If NVIDIA falls, both the payouts and the share price can drop.
What's the difference between NVDW and buying NVIDIA stock?
Owning NVDW is not the same as owning NVIDIA. The fund aims for about 1.2 times NVIDIA's weekly return, mostly through a swap, and it pays out weekly distributions. Buying NVIDIA stock gives you exactly the company's return, with no leverage and no 1.00% annual expense. The fund's structure also adds swap counterparty risk. Because exposure resets every week, the fund's long-term results can differ noticeably from 1.2 times NVIDIA's.
Is NVDW a leveraged ETF and can it go to zero?
Yes, it uses leverage. NVDW targets about 120% of NVIDIA's weekly total return and resets that exposure at the end of each trading week, not each day. Gains and losses are both about 20% larger than NVIDIA's over a week. The prospectus warns that the fund could lose all its value if NVIDIA fell 83.33% in a single week. Its deepest drop so far was 39%, in early 2025.
What is NVDW's expense ratio?
NVDW's expense ratio is 1.00% a year, according to its prospectus filed April 30, 2026. The management fee accounts for 0.99% of that. In the SEC's standard example, someone who invests $10,000, earns 5% a year and sells at the end of each period would pay about $101 after one year, $315 after three, $547 after five and $1,213 after ten. That is far more than many broad index funds charge.