At a glance
TSLW charges 0.99% a year. It has $101.0M in assets; it paid 64.57% of its price in distributions over the past 12 months, monthly. Over the past year it returned −17.1% with distributions reinvested.
The short version
Roundhill TSLA WeeklyPay ETF (TSLW) is an actively managed fund that uses swap contracts and Tesla shares to aim for about 1.2 times Tesla's return each calendar week, while paying a distribution every week. Payouts change weekly, and Roundhill intends much of them to be return of capital, meaning part of investors' own money handed back. The leverage cuts both ways: the fund could lose everything if Tesla falls 83.33% in one week.
Price history
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TSLW -17.1% 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 | |
|---|---|---|---|---|---|---|
| TSLW price data to Oct 27, 2026 | -15.3% | -17.1% | — | — | — | +0.6% |
- Over the year to Oct 27, 2026, TSLW returned -17.1%.
- The deepest fall in its price history was 47% (Dec 16, 2025 to Jul 29, 2026), not yet recovered.
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) | $8.6200 |
What's inside
As of Jun 30, 2026, the fund held 2 securities; the ten largest made up 86.87% of assets.
| Holding | Weight | |
|---|---|---|
| TREASURY BILL Bonds and notes | 67.25% | |
| Tesla Inc | 19.62% |
By country
United States 86.87%By issuer
US Treasury 67.25%Companies 19.62%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 withdrew a net $193K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +2.58%, +16.67%, -4.92%.
How it works
TSLW is actively managed by Roundhill Investments and does not track an index. It puts at least 80% of net assets into Tesla (TSLA) shares and total return swaps tied to Tesla. In a total return swap, a counterparty such as a bank pays the fund the return on Tesla stock in exchange for a fee. Together these positions aim for about 1.2 times Tesla's total return over each calendar week. At the close of the last trading day each week, exposure is reset to about 120%. Because of that reset, returns over months or years can differ from 1.2 times Tesla's return over the same stretch.
Most of the fund's assets sit in short-term US Treasury bills, which serve as collateral for the swaps. As of June 30, 2026, Treasury bills made up 67.2% of net assets, Tesla shares 19.6% and the swap 11.7%. The fund is non-diversified and concentrated in the automobiles and components industry group.
Each week's distribution comes from a formula that uses Tesla's recent total return and its implied volatility (how much movement options traders expect). That means the amount changes from week to week. Roundhill intends much of it to be return of capital, which hands back part of a shareholder's own money and lowers their cost basis. The prospectus warns the fund could lose all its value if Tesla falls 83.33% in a single week.
What it really costs
- TSLW 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 |
|---|---|---|---|---|
| TSLW | $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 bet on a single stock, Tesla, so it fits at most as a small add-on to a broader portfolio.
TSLW adds concentration, not balance. It launched on February 19, 2025, so it has no record in the 2008, 2020 or 2022 downturns and no full calendar year of results. Its deepest drop was 47%, from December 16, 2025 to July 29, 2026, and it had not recovered as of October 27, 2026. Over the year to that date it lost 17.1%, with volatility of 54.7%. Selling shares or relying on payouts during a slump could lock in steep losses.
The trailing 12-month yield was 64.57% as of October 27, 2026, and the fund pays weekly. Much of that payout is meant to be return of capital, so a big payout can come with a falling share price. In the SEC's standard example, the 0.99% expense ratio costs $101 on $10,000 in the first year. 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 a small Tesla position with about 1.2 times its weekly moves and can live with drops like the fund's 47% decline.
- Holders who value weekly cash payouts and understand they vary in size and may be largely return of capital rather than earnings.
- People who watch positions closely and understand that the weekly reset makes long-term returns drift away from 1.2 times Tesla's.
Look elsewhere if
- Retirees who need steady, predictable income. Payouts change with Tesla's returns and volatility, and the share price can shrink.
- Investors who want diversification. The fund is non-diversified and tied entirely to one carmaker, Tesla.
- Those who would rather avoid a 0.99% annual fee, leverage and swap counterparty risk. They could own Tesla shares directly instead.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
No close alternatives found.
Questions investors ask
Does TSLW pay weekly dividends?
Yes. TSLW makes a distribution every week, which is its main stated objective. The amount comes from a formula based on Tesla's recent total return and implied volatility, so it changes from week to week. Over the 12 months to October 27, 2026, it paid $12.54 per share, a trailing yield of 64.57%. Roundhill intends much of each payout to be return of capital, which is part of the shareholder's own money coming back, not profit.
Is TSLW a leveraged ETF?
Yes, modestly. TSLW uses Tesla shares and total return swaps to aim for about 1.2 times Tesla's total return over each calendar week. Its exposure resets to about 120% at the close of each week, so results over longer periods can differ from 1.2 times Tesla's return. Weekly losses are magnified too. The prospectus warns the fund could lose all its value if Tesla falls 83.33% in a single week.
What's the difference between TSLW and owning Tesla stock?
TSLW is not an investment in Tesla itself. It aims for about 1.2 times Tesla's weekly return and pays weekly distributions, many of them expected to be return of capital. As of June 30, 2026, Tesla shares made up 19.6% of net assets. A swap made up 11.7%, and Treasury bills held as collateral made up 67.2%. Fund holders pay a 0.99% expense ratio and take on swap counterparty risk, which owning Tesla shares directly avoids.
Is TSLW good for retirement income?
TSLW pays large weekly distributions, but they are variable and much of the money is expected to be return of capital. In other words, part of the payout may simply be the investor's own money coming back. The fund fell 47% from December 16, 2025 to July 29, 2026 and had not recovered as of October 27, 2026. It is tied to one stock with leverage. That makes its income less dependable than a payout backed by steady earnings.
What is the expense ratio of TSLW?
TSLW's expense ratio is 0.99%, all of it a management fee, according to the prospectus filed April 30, 2026. The SEC's standard example assumes $10,000 invested, a 5% annual return and a sale at the end of each period. On that basis, costs would be about $101 after one year, $315 after three years, $547 after five years and $1,213 after ten years.