Parametric Equity Premium Income ETF (PAPI) belongs to the Derivative Income category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with PAPI. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PAPI
PAPI charges 0.29% annually. There are 4 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.10%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Parametric Equity Plus ETF | 0.10% | 27.28M | Nov 2024 | PAPI vs PEPS | |
| State Street US Equity Premium Income ETF | 0.25% | 46.44M | Sep 2024 | PAPI vs SPIN | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 292.36M | Mar 2024 | PAPI vs IVVW | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 166.08M | Apr 2024 | PAPI vs FYEE | |
| Invesco S&P 500 BuyWrite ETF | 0.29% | 344.74M | Dec 2007 | PAPI vs PBP |
Best Risk-Adjusted Alternatives to PAPI
PAPI has a PortfoliosLab risk / return rank of 33. There are 87 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| YieldMax Semiconductor Portfolio Option Income ETF | 97 | 1.02B | Apr 2025 | PAPI vs CHPY | |
| SoFi Enhanced Yield ETF | 92 | 34.73M | Nov 2023 | PAPI vs THTA | |
| YieldMax GOOGL Option Income Strategy ETF | 92 | 298.09M | Jul 2023 | PAPI vs GOOY | |
| Global X NASDAQ 100 Covered Call ETF | 88 | 8.41B | Dec 2013 | PAPI vs QYLD | |
| YieldMax TSM Option Income Strategy ETF | 88 | 117.86M | Aug 2024 | PAPI vs TSMY |
Top Performing PAPI Alternatives (YTD)
PAPI is at 5.81% YTD. There are 104 ETFs in the Derivative Income category with higher YTD returns, going as high as 363.23%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill ARM WeeklyPay ETF | 363.23% | 14.71M | Oct 2025 | PAPI vs ARMW | |
| Roundhill AMD WeeklyPay ETF | 192.40% | 90.88M | Jul 2025 | PAPI vs AMDW | |
| YieldMax Semiconductor Portfolio Option Income ETF | 85.77% | 1.02B | Apr 2025 | PAPI vs CHPY | |
| Defiance Oil Enhanced Options Income ETF | 62.18% | 62.15M | May 2024 | PAPI vs USOY | |
| YieldMax MRNA Option Income Strategy ETF | 51.59% | 82.87M | Oct 2023 | PAPI vs MRNY |
Lowest Volatility Alternatives to PAPI
PAPI has 10.55% 1-year volatility. There are 58 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 0.00%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Dividend Performers ETF | 0.00% | 20.88M | Dec 2018 | PAPI vs IPDP | |
| Simplify Treasury Option Income ETF | 3.14% | 438.06M | Oct 2022 | PAPI vs BUCK | |
| FT Vest High Yield & Target Income ETF | 3.83% | 90.68M | Feb 2025 | PAPI vs HYTI | |
| Main Buywrite ETF | 4.85% | 1.21B | Dec 2015 | PAPI vs BUYW | |
| FT Vest Investment Grade & Target Income ETF | 5.10% | 287.53M | Feb 2025 | PAPI vs LQTI |
Lowest Drawdown Alternatives to PAPI
PAPI has a 1-year max drawdown of -6.86%. There are 29 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -1.31%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | -1.31% | 438.06M | Oct 2022 | PAPI vs BUCK | |
| FT Vest High Yield & Target Income ETF | -2.38% | 90.68M | Feb 2025 | PAPI vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.21B | Dec 2015 | PAPI vs BUYW | |
| SoFi Enhanced Yield ETF | -2.64% | 34.73M | Nov 2023 | PAPI vs THTA | |
| VistaShares Target 15™ Berkshire Select Income ETF | -3.00% | 774.36M | Mar 2025 | PAPI vs OMAH |
Other ETFs from Morgan Stanley
The 3 most viewed Morgan Stanley ETFs shown here include MSLC, MSSM, MSBT and span 3 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Morgan Stanley Pathway Large Cap Equity ETF | Large Cap Blend Equities | 57 | 8.55% | — | Nov 1991 | PAPI vs MSLC | |
| Morgan Stanley Pathway Small-Mid Cap Equity ETF | Small Cap Blend Equities | 67 | 17.34% | — | Dec 2024 | PAPI vs MSSM | |
| Morgan Stanley Bitcoin Trust | Cryptocurrency | — | — | — | Apr 2026 | PAPI vs MSBT |
Often Compared With PAPI
Investors most often compare PAPI with JEPI, BALI, RDVI. These 20 comparison targets span 6 categories, based on PortfoliosLab usage data.
Compare PAPI with Any Fund or Stock
Compare PAPI with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PAPI with funds that move differently
Parametric Equity Premium Income ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PAPI.
Explore PAPI Diversifiers