Roundhill Announces Strategy, Name, & Ticker Changes for WPAY

Rhea-AI Summary

Roundhill (TOPW) will rename and change strategy for the Roundhill WeeklyPay Universe ETF (WPAY) to the Roundhill Top WeeklyPay ETF (TOPW), effective after market close on March 20, 2025.

The Fund will limit inclusion to WeeklyPay ETFs whose underlying sits among the 25 largest U.S. single stocks by market cap, shift from monthly to quarterly rebalances, and adopt a modified market-cap weighting. Holdings and weights will be posted on the company website after the March 20 close.

Positive

• Renamed and rebranded to TOPW effective March 20, 2025
• Strategy now targets the 25 largest U.S. single-stock WeeklyPay ETFs
• Rebalance frequency reduced to quarterly, likely lowering turnover

Negative

• Excludes WeeklyPay ETFs outside the top 25, reducing diversification
• Concentration risk increases by focusing on the largest single stocks
• Ticker and strategy change may cause short-term tracking or liquidity frictions

Key Figures

Top constituents cutoff: 25 largest single stocks Effective date: After market close on March 20, 2025

2 metrics

Top constituents cutoff 25 largest single stocks Revised inclusion criteria for WeeklyPay ETFs

Effective date After market close on March 20, 2025 Strategy, name, and ticker changes implementation

Market Reality Check

Price: $10.33 Vol: Volume 173,279 vs 20-day ...

low vol

$10.33 Last Close

Volume Volume 173,279 vs 20-day average 1,188,129 (relative volume 0.15x) indicates limited trading response. low

Technical Price at 10.33 is trading above the 200-day MA of 4.19, showing a pre-existing uptrend before this strategy/ticker change.

Peers on Argus

No peer ETFs or stocks are flagged in momentum scanners or headlines, suggesting...

No peer ETFs or stocks are flagged in momentum scanners or headlines, suggesting today’s move in TOPW is tied to fund-specific strategy and branding changes rather than a sector-wide rotation.

Market Pulse Summary

This announcement outlines a strategy and branding update as WPAY repositions as the Roundhill Top W...

Analysis

This announcement outlines a strategy and branding update as WPAY repositions as the Roundhill Top WeeklyPay ETF (TOPW), targeting WeeklyPay products linked to the 25 largest U.S. single stocks by market capitalization and moving to a modified market-cap weighting with quarterly rebalancing. Investors may want to review the detailed holdings and weights published after March 20 to understand concentration risk, sector mix, and how the new rules change exposure versus the prior, broader universe.

Key Terms

etf, market capitalization, market-cap weighting

3 terms

etf financial

"Roundhill WeeklyPay™ Universe ETF (WPAY) to be renamed Roundhill Top WeeklyPay™ ETF (TOPW)"

An ETF, or exchange-traded fund, is like a basket of different investments such as stocks or bonds that you can buy or sell easily on the stock market, just like a regular share. It allows people to invest in many companies at once, making it a simple way to grow savings without picking individual stocks.

market capitalization financial

"underlying sits among the 25 largest single stocks by market capitalization in the U.S."

Market capitalization is the total market value of a company’s outstanding shares, calculated by multiplying the current share price by the number of shares issued. It gives a quick snapshot of a company’s size and how investors value it, influencing perceived risk, index membership, and roughly how much it might cost to buy the whole company — like using a sticker price to compare the relative size and price of different houses.

market-cap weighting financial

"rebalance using a modified market-cap weighting approach"

A market-cap weighting is a way of sizing companies in an index or fund so that each company's influence matches the total value of its publicly traded shares (share price multiplied by shares outstanding). It matters to investors because bigger companies move the index more, so funds tracking that index concentrate returns and risk in the largest firms—similar to a group decision where votes are weighted by how much each person owns.

AI-generated analysis. Not financial advice.

Roundhill WeeklyPay™ Universe ETF (WPAY) to be renamed Roundhill Top WeeklyPay™ ETF (TOPW)

NEW YORK, March 19, 2026 /PRNewswire/ -- Roundhill Investments, an ETF sponsor focused on innovative financial products, has announced several significant changes to the Roundhill WeeklyPay™ Universe ETF (WPAY). 

The Fund will be renamed to the Roundhill Top WeeklyPay™ ETF (TOPW) to reflect upcoming strategy changes. Specifically, revised inclusion criteria will target WeeklyPay™ ETFs for which the underlying sits among the 25 largest single stocks by market capitalization in the U.S. WeeklyPay™ ETFs that fall outside of that criteria will no longer be included in the Fund.

In addition, the Fund will now rebalance using a modified market-cap weighting approach and its rebalance schedule will shift from monthly to quarterly.

The changes are set forth below and are anticipated to go into effect following the market close on March 20, 2025.

Current Fund Name	Current Fund Ticker	New Fund Name	New Fund Ticker
Roundhill WeeklyPay Universe ETF	WPAY	Roundhill Top WeeklyPay ETF	TOPW

Holdings and weights will be made available on www.roundhillinvestments.com after the market closes on March 20.

About Roundhill Investments:

Founded in 2018, Roundhill Investments is an SEC-registered investment advisor focused on innovative exchange-traded funds. Roundhill's suite of ETFs offers distinct and differentiated exposures across thematic equity, options income, and trading vehicles. Roundhill offers a depth of ETF knowledge and experience, as the team has collectively launched more than 100+ ETFs including several first-to-market products. To learn more about the company, please visit roundhillinvestments.com.

Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. For a prospectus or summary prospectus, if available, with this and other information about the Fund, please call 1-855-561-5728 or visit our website at www.roundhillinvestments.com/etf/topw. Read the prospectus or summary prospectus carefully before investing.

As with all investments, there are certain risks of investing in the Fund. Fund Shares will change in value, and you could lose money by investing in the Fund. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

There is no guarantee that a WeeklyPay™ Fund will successfully provide returns that correspond to approximately 1.2 times (120%) the calendar week total return of common shares of the Applicable Security.

Therefore, each WeeklyPay™ Fund will provide exposure to the weekly total return of its Applicable Security. Accordingly, a WeeklyPay™ Fund is not an appropriate investment for investors seeking exposure to the daily total return of a security.

ETF Risk. The Fund will invest in ETFs. The value of an ETF held by the Fund will fluctuate over time based on fluctuations in the values of the assets held by the ETF, which may be affected by changes in general economic conditions, expectations for future growth and profits, interest rates and the supply and demand for those assets. When the Fund invests in an ETF, it will bear a proportionate share of the ETF's expenses. Brokerage, tax and other expenses may negatively impact the performance of the ETF and, in turn, the value of Fund Shares.

Issuer Risk. The performance of a WeeklyPay™ Fund depends on the performance of individual securities to which the WeeklyPay™ Fund has exposure.

WeeklyPay™ Funds Risks. The Fund will have significant exposure to the WeeklyPay™ Funds.

Leverage Risk. Each WeeklyPay™ Fund obtains investment exposure in excess of its net assets by utilizing leverage and may lose more money in market conditions that are adverse to its investment objective than a fund that does not utilize leverage.

Derivatives Risk. The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments.

Swap Agreements Risk. Each WeeklyPay™ Fund will utilize swap agreements to derive its exposure to its Applicable Security. Swap agreements may involve greater risks than direct investment in securities as they may be leveraged and are subject to credit risk, counterparty risk and valuation risk.

FLEX Options Risk. Certain WeeklyPay™ Funds will utilize FLEX Options. Trading FLEX Options involves risks different from, or possibly greater than, the risks associated with investing directly in securities. A WeeklyPay™ Fund may experience losses from specific FLEX Option positions and certain FLEX Option positions may expire worthless. The FLEX Options are listed on an exchange; however, no one can guarantee that a liquid secondary trading market will exist for the FLEX Options.

Distribution Tax Risk. The Fund currently expects to make distributions on a weekly basis. Such frequent distributions may expose investors to increased tax liabilities. However, these distributions may exceed the Fund's income and gains for the Fund's taxable year. Distributions in excess of the Fund's current and accumulated earnings and profits will be treated as a return of capital. A return of capital distribution generally will not be taxable but will reduce the shareholder's cost basis and will result in a higher capital gain or lower capital loss when those Fund Shares on which the distribution was received are sold. Once a Fund shareholder's cost basis is reduced to zero, further distributions will be treated as capital gain if a Fund shareholder holds Fund Shares as capital assets.

Index Provider Risk. There is no assurance that the Index Provider, or any agents that act on its behalf, will compile the Index accurately, or that the Index will be determined, maintained, constructed, reconstituted, rebalanced, composed, calculated or disseminated accurately. Passive Investment Risk. The Fund is not actively managed. The Fund invests in securities included in or representative of the Index regardless of investment merit.

Non-Diversification Risk. As a "non-diversified" fund, the Fund may hold a smaller number of portfolio securities than many other funds.

New Fund Risk. The Fund is new and has a limited operating history.

Roundhill Financial Inc. serves as the investment advisor. The Funds are distributed by Foreside Fund Services, LLC which is not affiliated with Roundhill Financial Inc., U.S. Bank, or any of their affiliates.

View original content to download multimedia:https://www.prnewswire.com/news-releases/roundhill-announces-strategy-name--ticker-changes-for-wpay-302719042.html

SOURCE Roundhill Investments

FAQ

What change is Roundhill making to WPAY effective March 20, 2025?

The fund will be renamed Roundhill Top WeeklyPay ETF (TOPW) after market close March 20, 2025. According to the company, the new name reflects revised inclusion criteria and a strategy shift to target WeeklyPay ETFs tied to the 25 largest U.S. single stocks.

How will the inclusion criteria for TOPW differ from WPAY?

TOPW will include only WeeklyPay ETFs whose underlying sits among the 25 largest U.S. single stocks. According to the company, WeeklyPay ETFs outside that 25-stock threshold will no longer be included in the Fund.

When will TOPW rebalance and what weighting will it use?

The Fund will rebalance on a quarterly schedule and use a modified market-cap weighting approach. According to the company, this replaces the prior monthly rebalance and adjusts weights based on market-cap rules.

Where can investors find TOPW holdings and weights after the change?

Holdings and weights will be available on the company's website after the market close on March 20, 2025. According to the company, the full holdings and weight schedule will be posted following the effective date.

Will existing WPAY shareholders need to take action when it becomes TOPW?

No immediate shareholder action is specified in the announcement converting WPAY to TOPW after March 20, 2025. According to the company, the change is a rebranding and strategy update; shareholders should review posted holdings and prospectus updates for details.

How does targeting the 25 largest stocks affect TOPW's portfolio composition?

Targeting the 25 largest single stocks will concentrate the Fund in large-cap WeeklyPay ETFs rather than a broader set. According to the company, this revises inclusion criteria to prioritize the largest underlying single-stock exposures.