EDGX vs. PAPI

Last updated Jun 4, 2026

EDGX (Global X U.S. 500 Income Edge ETF) and PAPI (Parametric Equity Premium Income ETF) are both Derivative Income funds. EDGX is passively managed, while PAPI is actively managed. At a 0.16 correlation, their price movements are largely independent.

Performance

EDGX vs. PAPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X U.S. 500 Income Edge ETF (EDGX) and Parametric Equity Premium Income ETF (PAPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EDGX

• 1D: -0.49%
• 1M: 4.73%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PAPI

• 1D: -0.26%
• 1M: 0.28%
• YTD: 5.81%
• 6M: 5.78%
• 1Y: 12.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EDGX vs. PAPI - Yearly Performance Comparison

	2026 (YTD)
EDGX Global X U.S. 500 Income Edge ETF	10.16%
PAPI Parametric Equity Premium Income ETF	-3.76%

Correlation

The correlation between EDGX and PAPI is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 19, 2026	0.16

Return for Risk

EDGX vs. PAPI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PAPI

PAPI Risk / Return Rank: 33
PAPI Sharpe Ratio Rank: 32
PAPI Sortino Ratio Rank: 34
PAPI Omega Ratio Rank: 30
PAPI Calmar Ratio Rank: 37
PAPI Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EDGX vs. PAPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X U.S. 500 Income Edge ETF (EDGX) and Parametric Equity Premium Income ETF (PAPI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	EDGX	PAPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.05	0.88	+2.17

Drawdowns

EDGX vs. PAPI - Drawdown Comparison

The maximum EDGX drawdown since its inception was -7.56%, smaller than the maximum PAPI drawdown of -14.27%. Use the drawdown chart below to compare losses from any high point for EDGX and PAPI.

Drawdown Indicators

	EDGX	PAPI	Difference
Max Drawdown Largest peak-to-trough decline	-7.56%	-14.27%	+6.71%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.86%	—
Current Drawdown Current decline from peak	-0.49%	-5.06%	+4.57%
Average Drawdown Average peak-to-trough decline	-1.50%	-2.73%	+1.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.53%	—

Volatility

Volatility by Period

	EDGX	PAPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.23%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.00%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.10%	10.55%	+2.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.10%	11.76%	+1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.10%	11.76%	+1.34%

Dividends

EDGX vs. PAPI - Dividend Comparison

EDGX's dividend yield for the trailing twelve months is around 2.43%, less than PAPI's 7.62% yield.

Position	TTM	2025	2024	2023
EDGX Global X U.S. 500 Income Edge ETF	2.43%	0.00%	0.00%	0.00%
PAPI Parametric Equity Premium Income ETF	7.62%	7.59%	7.07%	1.45%

Frequently Asked Questions

Can I hold both EDGX and PAPI in my portfolio?

EDGX and PAPI have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, EDGX or PAPI?

PAPI has the higher dividend yield at 7.62%, compared with 2.43% for EDGX.

What is the main difference between EDGX and PAPI?

They also come from different issuers: Global X and Morgan Stanley.