The exchange-traded fund (ETF) aims to target an annualised distribution rate of 10%, while providing exposure to the S&P 500.

Roundhill Investments, a New York-based US Securities and Exchange (SEC)-registered investment adviser, has added  the Roundhill S&P 500 Target 10 Managed Distribution ETF (TPAY)  to its product lineup. The fund  seeks to offer a monthly income while maintaining exposure to the S&P 500 TPAY, which  has been trading on the Cboe BZX Exchange since 18 February, charges an annual fee of 0.49%. The fund seeks to offer a monthly income while maintaining exposure to the