Roundhill HOOD WeeklyPay ETF (HOOW)

The Roundhill HOOD WeeklyPay ETF (HOOW) is a single-stock exchange-traded fund linked to Robinhood Markets (HOOD), the online brokerage known for commission-free trading in stocks, options, ETFs and cryptocurrencies.

Like the rest of Roundhill Investments' WeeklyPay lineup, the fund seeks to provide 1.2 times (120%) the weekly total return of its underlying stock, before fees and expenses, and to pay distributions to shareholders every week. It gets its leveraged exposure mainly through swap agreements or options, resetting it each week rather than each day.

Since the leverage target applies to one-week periods, the fund's results over longer stretches can diverge from 1.2 times the stock's return. The fund holds exposure to a single company and is therefore not diversified.