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% | 292.36M | Mar 2024 | PEPS vs IVVW | |
| State Street US Equity Premium Income ETF | 0.25% | 46.44M | Sep 2024 | PEPS vs SPIN | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 166.08M | Apr 2024 | PEPS vs FYEE | |
| Invesco QQQ Income Advantage ETF | 0.29% | 749.48M | Jul 2024 | PEPS vs QQA | |
| Invesco S&P 500 BuyWrite ETF | 0.29% | 344.74M | Dec 2007 | PEPS vs PBP |
Best Risk-Adjusted Alternatives to PEPS
PEPS has a PortfoliosLab risk / return rank of 75. There are 29 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 | PEPS vs CHPY | |
| SoFi Enhanced Yield ETF | 92 | 34.73M | Nov 2023 | PEPS vs THTA | |
| YieldMax GOOGL Option Income Strategy ETF | 92 | 298.09M | Jul 2023 | PEPS vs GOOY | |
| YieldMax TSM Option Income Strategy ETF | 90 | 117.86M | Aug 2024 | PEPS vs TSMY | |
| FT Vest Technology Dividend Target Income ETF | 90 | — | Aug 2023 | PEPS vs TDVI |
Top Performing PEPS Alternatives (YTD)
PEPS is at 11.24% YTD. There are 58 ETFs in the Derivative Income category with higher YTD returns, going as high as 347.83%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill ARM WeeklyPay ETF | 347.83% | 14.71M | Oct 2025 | PEPS vs ARMW | |
| Roundhill AMD WeeklyPay ETF | 178.71% | 90.88M | Jul 2025 | PEPS vs AMDW | |
| YieldMax Semiconductor Portfolio Option Income ETF | 83.68% | 1.02B | Apr 2025 | PEPS vs CHPY | |
| Defiance Oil Enhanced Options Income ETF | 59.86% | 62.15M | May 2024 | PEPS vs USOY | |
| REX IncomeMax Option Strategy ETF | 47.97% | 40.50M | Oct 2025 | PEPS vs ULTI |
Lowest Volatility Alternatives to PEPS
PEPS has 13.05% 1-year volatility. There are 88 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 | PEPS vs IPDP | |
| Innovator Index Autocallable Income Strategy ETF | 3.15% | — | Sep 2025 | PEPS vs ACII | |
| Simplify Treasury Option Income ETF | 3.22% | 438.06M | Oct 2022 | PEPS vs BUCK | |
| FT Vest High Yield & Target Income ETF | 3.83% | 90.68M | Feb 2025 | PEPS vs HYTI | |
| Main Buywrite ETF | 4.86% | 1.21B | Dec 2015 | PEPS vs BUYW |
Lowest Drawdown Alternatives to PEPS
PEPS has a 1-year max drawdown of -9.80%. There are 65 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 | PEPS vs BUCK | |
| FT Vest High Yield & Target Income ETF | -2.38% | 90.68M | Feb 2025 | PEPS vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.21B | 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 | 85 | 5.85% | 137.24M | Oct 2023 | PEPS vs PHEQ |
Often Compared With PEPS
Investors most often compare PEPS with ROCY, TOPW, SPYI. 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