Parametric Equity Premium Income ETF (PAPI) Alternatives

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 funds that fit a different role in your portfolio.

Cheapest Alternatives to PAPI

PAPI charges 0.29% annually. Among ETFs in the Derivative Income category, these options have the lowest expense ratios among PAPI alternatives.

Symbol	Name	Expense Ratio	Inception
IVVW	iShares S&P 500 BuyWrite ETF	0.25%	Mar 14, 2024	PAPI vs IVVW
SPIN	State Street US Equity Premium Income ETF	0.25%	Sep 5, 2024	PAPI vs SPIN
FYEE	Fidelity Yield Enhanced Equity ETF	0.28%	Apr 9, 2024	PAPI vs FYEE
QQA	Invesco QQQ Income Advantage ETF	0.29%	Jul 17, 2024	PAPI vs QQA
PBP	Invesco S&P 500 BuyWrite ETF	0.29%	Dec 20, 2007	PAPI vs PBP

Best Risk-Adjusted Alternatives to PAPI

Among ETFs in the Derivative Income category, these options rank highest on PortfoliosLab's risk-adjusted score, which accounts for volatility, drawdown, and return consistency over a 1-year period.

Symbol	Name	Risk / Return Rank	Inception
GOOY	YieldMax GOOGL Option Income Strategy ETF	97	Jul 27, 2023	PAPI vs GOOY
TSMY	YieldMax TSM Option Income Strategy ETF	96	Aug 20, 2024	PAPI vs TSMY
GOOP	Kurv Yield Premium Strategy Google ETF	92	Oct 30, 2023	PAPI vs GOOP
DIVO	Amplify CWP Enhanced Dividend Income ETF	80	Dec 13, 2016	PAPI vs DIVO
USOY	Defiance Oil Enhanced Options Income ETF	80	May 9, 2024	PAPI vs USOY

Top Performing PAPI Alternatives (YTD)

PAPI alternatives from the Derivative Income category, sorted by year-to-date return.

Symbol	Name	YTD Return	Inception
USOY	Defiance Oil Enhanced Options Income ETF	60.22%	May 9, 2024	PAPI vs USOY
MRNY	YieldMax MRNA Option Income Strategy ETF	57.12%	Oct 23, 2023	PAPI vs MRNY
XOMO	YieldMax XOM Option Income Strategy ETF	28.99%	Aug 30, 2023	PAPI vs XOMO
CRSH	YieldMax Short TSLA Option Income Strategy ETF	20.49%	May 1, 2024	PAPI vs CRSH
COSW	Roundhill COST WeeklyPay ETF	17.20%	Oct 23, 2025	PAPI vs COSW

Lowest Volatility Alternatives to PAPI

PAPI alternatives from the Derivative Income category, sorted by annualized volatility over the past year.

Symbol	Name	Volatility 1Y	Inception
QYLE	Global X NASDAQ 100 ESG Covered Call ETF	0.00%	Feb 21, 2023	PAPI vs QYLE
IPDP	Dividend Performers ETF	0.00%	Dec 24, 2018	PAPI vs IPDP
LQTI	FT Vest Investment Grade & Target Income ETF	6.23%	Feb 11, 2025	PAPI vs LQTI
XRMI	Global X S&P 500 Risk Managed Income ETF	6.88%	Aug 25, 2021	PAPI vs XRMI
QRMI	Global X NASDAQ 100 Risk Managed Income ETF	7.74%	Aug 25, 2021	PAPI vs QRMI

Lowest Drawdown Alternatives to PAPI

PAPI alternatives from the Derivative Income category, sorted by maximum drawdown over the past year.

Symbol	Name	Max Drawdown 1Y	Inception
LQTI	FT Vest Investment Grade & Target Income ETF	-3.41%	Feb 11, 2025	PAPI vs LQTI
XRMI	Global X S&P 500 Risk Managed Income ETF	-5.02%	Aug 25, 2021	PAPI vs XRMI
QRMI	Global X NASDAQ 100 Risk Managed Income ETF	-5.04%	Aug 25, 2021	PAPI vs QRMI
KHPI	Kensington Hedged Premium Income ETF	-6.55%	Sep 4, 2024	PAPI vs KHPI
TCAL	T. Rowe Price Capital Appreciation Premium Income ...	-7.24%	Mar 26, 2025	PAPI vs TCAL

Other ETFs from Morgan Stanley

Most popular Morgan Stanley ETFs on PortfoliosLab, across asset classes.

Symbol	Name	Category	Risk / Return Rank	YTD Return	Inception
MSLC	Morgan Stanley Pathway Large Cap Equity ETF	Large Cap Blend Equities	47	-4.83%	Nov 18, 1991	PAPI vs MSLC
MSSM	Morgan Stanley Pathway Small-Mid Cap Equity ETF	Small Cap Blend Equities	60	2.02%	Dec 9, 2024	PAPI vs MSSM

Often Compared With PAPI

What investors most often compare with PAPI, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	Inception
BALI	Blackrock Advantage Large Cap Income ETF	Derivative Income	70	-1.60%	Sep 26, 2023	PAPI vs BALI
JEPI	JPMorgan Equity Premium Income ETF	Actively Managed, Dividend, Derivative Income	39	0.20%	May 20, 2020	PAPI vs JEPI
RDVI	FT Cboe Vest Rising Dividend Achievers Target Inco...	Derivative Income	59	-0.53%	Oct 19, 2022	PAPI vs RDVI
SPYI	NEOS S&P 500 High Income ETF	Derivative Income, S&P 500	69	-3.13%	Aug 29, 2022	PAPI vs SPYI
SCHD	Schwab U.S. Dividend Equity ETF	Dividend	52	12.79%	Oct 20, 2011	PAPI vs SCHD
VNQ	Vanguard Real Estate ETF	REIT	16	1.31%	Sep 23, 2004	PAPI vs VNQ
CCEF	Calamos CEF Income & Arbitrage ETF	Dividend	43	-0.88%	Jan 16, 2024	PAPI vs CCEF
BST	BlackRock Science and Technology Trust		73	-8.64%	—	PAPI vs BST
FTHI	First Trust BuyWrite Income ETF	Actively Managed, Derivative Income	65	-0.61%	Jan 6, 2014	PAPI vs FTHI
JEPQ	JPMorgan Nasdaq Equity Premium Income ETF	Derivative Income	72	-2.87%	May 3, 2022	PAPI vs JEPQ
VTIP	Vanguard Short-Term Inflation-Protected Securities...	Inflation-Protected Bonds	94	0.99%	Oct 12, 2012	PAPI vs VTIP
VOO	Vanguard S&P 500 ETF	S&P 500	65	-4.42%	Sep 7, 2010	PAPI vs VOO
QQQI	NEOS Nasdaq-100 High Income ETF	Derivative Income	72	-4.41%	Jan 29, 2024	PAPI vs QQQI
IETH	Bitwise Ethereum Option Income Strategy ETF	Derivative Income	—	-26.81%	Oct 1, 2025	PAPI vs IETH
ICOI	Bitwise COIN Option Income Strategy ETF	Derivative Income	—	-21.92%	Apr 1, 2025	PAPI vs ICOI
IQQQ	ProShares Nasdaq-100 High Income ETF	Derivative Income, Dividend	61	-5.36%	Mar 18, 2024	PAPI vs IQQQ
TSYY	GraniteShares YieldBOOST TSLA ETF	Derivative Income	12	-14.82%	Dec 17, 2024	PAPI vs TSYY
DJIA	Global X Dow 30 Covered Call ETF	Derivative Income	33	-2.20%	Feb 23, 2022	PAPI vs DJIA
AIYY	YieldMax AI Option Income Strategy ETF	Derivative Income	1	-34.26%	Nov 27, 2023	PAPI vs AIYY
PYPY	Yieldmax PYPL Option Income Strategy ETF	Derivative Income	1	-21.00%	Sep 25, 2023	PAPI vs PYPY

Compare PAPI with Any Fund or Stock

Compare PAPI with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

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Parametric Equity Premium Income ETF

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