Parametric Equity Plus ETF (PEPS) 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 PEPS. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PEPS
PEPS charges 0.10% annually. No ETFs in the Derivative Income category have lower expense ratios; the lowest-cost alternatives shown here go as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| iShares S&P 500 BuyWrite ETF | 0.25% | 303.13M | Mar 2024 | PEPS vs IVVW | |
| State Street US Equity Premium Income ETF | 0.25% | 45.59M | Sep 2024 | PEPS vs SPIN | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 185.18M | Apr 2024 | PEPS vs FYEE | |
| Invesco S&P 500 BuyWrite ETF | 0.29% | 347.16M | Dec 2007 | PEPS vs PBP | |
| Invesco QQQ Income Advantage ETF | 0.29% | 768.95M | Jul 2024 | PEPS vs QQA |
Best Risk-Adjusted Alternatives to PEPS
PEPS has a PortfoliosLab risk / return rank of 62. There are 38 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 95.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| YieldMax Semiconductor Portfolio Option Income ETF | 95 | 1.16B | Apr 2025 | PEPS vs CHPY | |
| SoFi Enhanced Yield ETF | 94 | 34.73M | Nov 2023 | PEPS vs THTA | |
| YieldMax GOOGL Option Income Strategy ETF | 92 | 262.22M | Jul 2023 | PEPS vs GOOY | |
| YieldMax AMD Option Income Strategy ETF | 90 | 409.32M | Sep 2023 | PEPS vs AMDY | |
| Simplify Treasury Option Income ETF | 86 | 465.86M | Oct 2022 | PEPS vs BUCK |
Top Performing PEPS Alternatives (YTD)
PEPS is at 7.86% YTD. There are 77 ETFs in the Derivative Income category with higher YTD returns, going as high as 19,132.59%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| REX HOOD Growth & Income ETF | 19,132.59% | 1.44M | Nov 2025 | PEPS vs HOII | |
| REX CRWV Growth & Income ETF | 13,199.78% | 2.19M | Nov 2025 | PEPS vs CWII | |
| Roundhill ARM WeeklyPay ETF | 297.09% | 17.52M | Oct 2025 | PEPS vs ARMW | |
| Roundhill AMD WeeklyPay ETF | 176.01% | 83.00M | Jul 2025 | PEPS vs AMDW | |
| YieldMax AMD Option Income Strategy ETF | 101.34% | 409.32M | Sep 2023 | PEPS vs AMDY |
Lowest Volatility Alternatives to PEPS
PEPS has 13.80% 1-year volatility. There are 88 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 2.98%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | 2.98% | 465.86M | Oct 2022 | PEPS vs BUCK | |
| FT Vest High Yield & Target Income ETF | 3.86% | 90.05M | Feb 2025 | PEPS vs HYTI | |
| Main Buywrite ETF | 4.84% | 1.23B | Dec 2015 | PEPS vs BUYW | |
| FT Vest Investment Grade & Target Income ETF | 5.11% | 292.66M | Feb 2025 | PEPS vs LQTI | |
| Global X S&P 500 Risk Managed Income ETF | 5.52% | 50.16M | Aug 2021 | PEPS vs XRMI |
Lowest Drawdown Alternatives to PEPS
PEPS has a 1-year max drawdown of -9.80%. There are 69 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% | 465.86M | Oct 2022 | PEPS vs BUCK | |
| FT Vest High Yield & Target Income ETF | -2.38% | 90.05M | Feb 2025 | PEPS vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.23B | Dec 2015 | PEPS vs BUYW | |
| SoFi Enhanced Yield ETF | -2.64% | 34.73M | Nov 2023 | PEPS vs THTA | |
| VistaShares Target 15™ Berkshire Select Income ETF | -3.00% | 774.36M | Mar 2025 | PEPS vs OMAH |
Other ETFs from Parametric
The 1 most viewed Parametric ETFs shown here include PHEQ and span 1 categories. AUM among these funds goes as high as $137M.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Parametric Hedged Equity ETF | Options Trading | 81 | 5.21% | 137.12M | Oct 2023 | PEPS vs PHEQ |
Often Compared With PEPS
Investors most often compare PEPS with ROCY, SPYI, TOPW. These 20 comparison targets span 4 categories, based on PortfoliosLab usage data.
Compare PEPS with Any Fund or Stock
Compare PEPS with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PEPS with funds that move differently
Parametric Equity Plus ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PEPS.
Explore PEPS Diversifiers