AAPW vs MSTW

AAPWBRoundhill AAPL WeeklyPay ETF

MSTWCRoundhill MSTR WeeklyPay ETF

In short

AAPW Most leveraged single-stock funds reset daily. AAPW resets on the calendar week, targeting 1.2x Apple's weekly total return before fees, and cuts a distribution check every week. Cost: 1.00%, no waiver.

MSTW MSTR with the leverage dial at 1.2x and a payout stapled on. WeeklyPay resets exposure once a calendar week, not daily, and cuts a distribution every week sized off MSTR's own volatility. The most combustible reference stock in Roundhill's weekly lineup.

Stated mandate

AAPW AAPW seeks income and growth by making weekly distributions while targeting 1.2 times the calendar-week total return of Apple common shares, before fees and expenses.

MSTW The Fund seeks weekly distributions and calendar-week returns, before expenses, equal to 1.2 times the calendar-week total return of MSTR.

Why people hold it

• AAPW Leverage dialed down, not up: 120% of Apple's calendar-week total return before fees and expenses, with the objective defined over the week and nothing longer.sec.gov
• Paying is the point. The prospectus lists weekly distributions as the primary objective and the 1.2x weekly return as the secondary one, an unusual order of operations.sec.gov
• At 1.00% with no waiver, it sits right alongside its WeeklyPay siblings (AMDW 1.00%, COSW 0.99%) and TSYX at 0.98%, and near the category median fee.
• In a peer group of leveraged single-stock income funds, this ranks among the stronger implementations, hitting its stated weekly target closely.

• MSTW Leverage resets at the close of the last business day each calendar week, so the 1.2x applies to a week's move in MSTR rather than a day's.sec.gov
• A 1.2x multiple is mild for single-stock land: 20% more than MSTR's weekly move, up or down.sec.gov
• Pays weekly, with each amount set by a formula using MSTR's recent total return and implied volatility, so the figure shifts week to week.sec.gov
• Costs 1.00% a year with no waiver, matching sibling WeeklyPay funds AAPW and MSFW at 1.00% and sitting near the category median.

Worth knowing

• AAPW The weekly reset is the mechanism and the catch: hold past Friday and your result can drift from 1.2x Apple's move. A single week can take the whole investment.sec.gov
• Distributions can exceed the fund's income and gains. The excess is return of capital, your own money handed back, which reduces net asset value.roundhillinvestments.com
• It is a small fund that trades lightly, and its Apple exposure comes through swaps with a counterparty plus Treasury collateral rather than shares.sec.gov

• MSTW MSTR is already a high-octane bitcoin proxy; the prospectus warns an investor could lose the full principal value within a single week.sec.gov
• Distributions can include return of capital, meaning part of a payout may be your own money handed back.roundhillinvestments.com
• Hold longer than a week and results can drift from 1.2x MSTR: the fund does not seek that multiple over any period other than a calendar week.sec.gov

Full AAPW profile⁠

Full MSTW profile⁠