Good poncho tarp?

Anyone have recommendations for a good poncho tarp? Would need to be something that would work as a rain fly over my Warbonnet traveller hammock.

The GoLite one looks nice but I've read it has some durability issues? Anyone have experience with it?

May be a dumb questions…if there is a hole to wear it as a poncho, what covers up the hole when it's working as a rain fly? Is it the hood?

Thanks!