ETF Evaluator: Roundhill Bitcoin Covered Cll Strat ETF () Follow This ETF

Roundhill Bitcoin Covered Cll Strat ETF Overview

Roundhill Bitcoin Covered Cll Strat ETF (YBTC) is an actively managed Miscellaneous Digital Assets exchange-traded fund (ETF). Roundhill Investments launched the ETF in 2024.

The investment seeks to provide current income. The fund seeks to achieve its investment objectives through the use of a synthetic covered call strategy that provides current income on a monthly basis, while also providing exposure to the price return of one or more exchange-traded funds (“ETFs”) that provide exposure to bitcoin and whose shares trade on a U.S.-regulated securities exchange. It will invest at least 80% of its net assets in options contracts that utilize a Bitcoin ETF as the reference asset. For purposes of compliance with this investment policy, derivative contracts will be valued at their notional value. The fund is non-diversified.

About Roundhill Bitcoin Covered Cll Strat ETF (YBTC)

There are 7 members of the management team with an average tenure of 1.99 years: William Hershey (2025), Andrew Serowik (2024), Timothy Maloney (2025), Gabriel Tan (2024), Todd Albrecio (2024), Brian Cooper (2024) and David Mazza (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 1 primary benchmark: Solactive GBS Global Mkt All Cap TR USD index with a weighting of 100%. Roundhill Bitcoin Covered Cll Strat ETF has 8 securities in its portfolio. The top 10 holdings constitute 117.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Roundhill Bitcoin Covered Cll Strat ETF is part of the Other global asset class and is within the Miscellaneous ETF group. Roundhill Bitcoin Covered Cll Strat ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -2.3% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Roundhill Bitcoin Covered Cll Strat ETF has 101.7% of the portfolio in cash.

Assets Under Management

The fund has $125 million in total assets, which is below the $564 million average for the Digital Assets category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

YBTC Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Roundhill Bitcoin Covered Cll Strat ETF expense ratio is high compared to funds in the Digital Assets category. Roundhill Bitcoin Covered Cll Strat ETF has an expense ratio of 0.95%, which is 2% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Roundhill Bitcoin Covered Cll Strat ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 82% for the Digital Assets category.

Recently, in the month of July 2026, Roundhill Bitcoin Covered Cll Strat ETF returned 8.4%, which earned it a grade of B, as the Digital Assets category had an average return of 2.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Roundhill Bitcoin Covered Cll Strat ETF has a trailing yield of 80.92%, which is above the 15.12% category average. The fund normally distributes its income weekly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Roundhill Bitcoin Covered Cll Strat ETF Grades

Year to date, the ETF has returned -23.8%, 6.9 percentage points better than the category, which translates into a grade of B. The fund has returned -42.3% over the past year (grade of B).

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