WPAY Is Becoming TOPW: What's Actually Changing
Name and Ticker
Effective March 20, 2026:
- Old name: Roundhill WeeklyPay™ Universe ETF
- New name: Roundhill Top WeeklyPay™ ETF
- Old ticker: WPAY
- New ticker: TOPW
The Important Part: Strategy Change
Old Strategy (WPAY)
Originally the ETF tracked an index that:
- Included all available WeeklyPay ETFs
- Equal-weighted them
- Rebalanced monthly
In other words, it was basically a "fund of all Roundhill WeeklyPay single-stock ETFs." Think of it like a basket of every WeeklyPay product.
New Strategy (TOPW)
The new index now filters the eligible ETFs based on the underlying stock's market cap.
Specifically:
- Only include WeeklyPay ETFs whose underlying stock ranks in the top 25 by market cap
- The ranking is based on the Solactive GBS United States 500 Index
- Eligibility reviewed quarterly
- The holdings are then weighted based on the underlying stock's modified market cap
What That Means in Practice
Before
WPAY held every WeeklyPay ETF, regardless of underlying company size.
Example possible holdings:
- NVDA
- TSLA
- COIN
- PLTR
- HOOD
- smaller names
After
TOPW will only hold WeeklyPay ETFs tied to mega-cap stocks in the top 25 of the U.S. 500 index.
Likely examples:
- Apple
- Microsoft
- Nvidia
- Amazon
- Meta
Why They Did This
The change effectively:
- Focuses the fund on mega-caps
- Removes smaller / more volatile underlying names
- Makes the ETF less of a "catch-all basket"
- Potentially reduces NAV erosion and volatility
It's basically moving from "all WeeklyPay funds" to "only WeeklyPay funds tied to the biggest companies."
One More Detail
The underlying WeeklyPay ETFs themselves still target:
- ~1.2x weekly total return of the underlying stock
- Weekly distributions
- Exposure via swaps + stock positions
So that core mechanic doesn't change — only which funds get included. You can browse all weekly distributors on our Weekly Income ETFs page.
Quick Summary
| Feature | Old (WPAY) | New (TOPW) |
|---|---|---|
| Universe | All WeeklyPay ETFs | Only those tied to top-25 mega-cap stocks |
| Weighting | Equal weight | Modified market-cap weighting |
| Rebalance | Monthly | Selection quarterly |
| Ticker | WPAY | TOPW |
Keep Exploring
- Weekly Income ETFs — Browse every weekly-distribution ETF in one place
- ETF Comparator — Compare TOPW against other Roundhill WeeklyPay ETFs
- Income ETF Launches 2024–2025 — Roundhill's 28 launches in 2025 and the broader landscape
- What's in a Ticker? — The creative world of ETF naming conventions
- SEC Yield vs. Distribution Yield — Understand the yield metrics behind weekly payers