ETF Education Report: ROUNDHILL GLP-1 & WEIGHT LOSS ETF (OZEM)

What this ETF is trying to do

The ROUNDHILL GLP-1 & WEIGHT LOSS ETF (OZEM) is an exchange-traded fund that focuses on companies related to weight loss and GLP-1 treatments. This ETF uses an option income strategy, which means it uses certain financial tools to potentially generate extra cash for the fund.

What the numbers show

As of October 7, 2026, the current price of OZEM is $30.10. Looking at how the price has moved:

• Year-to-Date (YTD): The YTD price return is approximately -11.89%. This means the share price has dropped by about 11.89% since the start of the year. The YTD total return is also -11.89%.

• One-Year Performance: Over the last year, the share price increased by approximately 3.79% (price return). However, when you include distributions, the one-year total return was approximately 5.02%.

• Estimated Price Comparison: An estimated price from roughly one year ago was $28.99.

Income and distribution explanation

This ETF provides cash distributions to investors. The distribution yield is approximately 1.36%. This number describes the cash paid out relative to the current ETF price. It is important to remember that a distribution yield is not the same as total return. While distributions provide cash, they do not guarantee that your original investment will stay the same value. In this case, the distributions are described as "irregular" or "less frequent."

NAV erosion explanation

"NAV erosion" is a term used to describe when the value of the underlying assets in an ETF decreases. Investors often care about this because they want their principal (the money they originally put in) to remain stable.

For OZEM, the erosion-risk score is 94, which is labeled as "Stable / sideways." The erosion severity is rated as "good," and there is no severe erosion-risk flag present. This suggests that the fund's price trends are currently viewed as stable rather than showing significant deterioration.

Top Holdings

The following is a partial list of the top holdings in this ETF (holdings can change over time):

• ELI LILLY AND CO: 13.10%

• NOVO NORDISK AS ADR: 11.30%

• PFIZER INC: 7.81%

• CSPC PHARMACEUTICAL GROUP LTD: 6.19%

• VIKING THERAPEUTICS INC: 5.38%

• KAILERA THERAPEUTICS INC: 5.01%

• CHUGAI PHARMACEUTICAL CO LTD: 4.57%

• AMGEN INC: 4.42%

• HANMI PHARM CO LTD: 4.42%

• ASCLETIS PHARMA INC ORDINARY SHARES: 4.39%

Pros

• The ETF provides a distribution yield of approximately 1.36%.

• The one-year total return was positive at approximately 5.02%.

Cons

• The year-to-date price return is negative at approximately -11.89%.

• Distributions are irregular and less frequent.

Beginner takeaway

When looking at an ETF like OZEM, it is important to distinguish between the price return (how much the share price moves) and the total return (which includes both price movement and cash distributions). While the share price has struggled so far this year, the total return over the last year was positive. Always remember that high yields or frequent distributions do not guarantee that your investment value will grow.