EGGS vs. PAPI

Last updated Aug 2, 2026

EGGS (NestYield Total Return Guard ETF) and PAPI (Parametric Equity Premium Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, EGGS returned 7.11% vs 19.72% for PAPI. Their -0.02 correlation means they have often moved in opposite directions in the past. EGGS charges 0.89%/yr vs 0.29%/yr for PAPI.

Performance

EGGS vs. PAPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NestYield Total Return Guard ETF (EGGS) and Parametric Equity Premium Income ETF (PAPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EGGS achieves a 5.83% return, which is significantly lower than PAPI's 12.17% return.

EGGS

• 1D: 2.45%
• 1M: -7.60%
• 6M: 8.61%
• YTD: 5.83%
• 1Y: 7.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.62%

PAPI

• 1D: -0.23%
• 1M: 2.42%
• 6M: 5.56%
• YTD: 12.17%
• 1Y: 19.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.62%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EGGS NestYield Total Return Guard ETF	$346.93K	$392.42K	$515.09K
PAPI Parametric Equity Premium Income ETF	$2.06M	$2.02M	$1.93M

EGGS vs. PAPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EGGS NestYield Total Return Guard ETF	5.83%	14.41%	-1.62%
PAPI Parametric Equity Premium Income ETF	12.17%	6.33%	-0.98%

Correlation

The correlation between EGGS and PAPI is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.14
Correlation (All Time) Calculated using the full available price history since Dec 27, 2024	-0.02

The correlation between EGGS and PAPI shifts across timeframes, from -0.14 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EGGS vs. PAPI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EGGS

EGGS Risk / Return Rank: 14
EGGS Sharpe Ratio Rank: 14
EGGS Sortino Ratio Rank: 15
EGGS Omega Ratio Rank: 15
EGGS Calmar Ratio Rank: 14
EGGS Martin Ratio Rank: 14

PAPI

PAPI Risk / Return Rank: 73
PAPI Sharpe Ratio Rank: 78
PAPI Sortino Ratio Rank: 81
PAPI Omega Ratio Rank: 74
PAPI Calmar Ratio Rank: 77
PAPI Martin Ratio Rank: 57

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EGGS vs. PAPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NestYield Total Return Guard ETF (EGGS) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EGGS	PAPI	Difference
Sharpe ratio: Return per unit of total volatility	0.13	1.77	-1.64
Sortino ratio: Return per unit of downside risk	0.39	2.65	-2.26
Omega ratio: Gain probability vs. loss probability	1.05	1.31	-0.26
Calmar ratio: Return relative to maximum drawdown	0.17	2.69	-2.52
Martin ratio: Return relative to average drawdown	0.45	6.78	-6.33

EGGS vs. PAPI - Sharpe Ratio Comparison

The current EGGS Sharpe Ratio is 0.13, which is lower than the PAPI Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of EGGS and PAPI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EGGS vs. PAPI - Drawdown Comparison

The maximum EGGS drawdown since its inception was -24.23%, which is greater than PAPI's maximum drawdown of -14.27%. Use the drawdown chart below to compare losses from any high point for EGGS and PAPI.

Drawdown Indicators

	EGGS	PAPI	Difference
Max Drawdown Largest peak-to-trough decline	-24.23%	-14.27%	-9.96%
Max Drawdown (1Y) Largest decline over 1 year	-24.23%	-6.86%	-17.37%
Current Drawdown Current decline from peak	-16.16%	-1.36%	-14.80%
Average Drawdown Average peak-to-trough decline	-6.12%	-2.72%	-3.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.07%	2.71%	+6.36%

Volatility

EGGS vs. PAPI - Volatility Comparison

NestYield Total Return Guard ETF (EGGS) has a higher volatility of 16.49% compared to Parametric Equity Premium Income ETF (PAPI) at 3.49%. This indicates that EGGS's price experiences larger fluctuations and is considered to be riskier than PAPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EGGS	PAPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.49%	3.49%	+13.00%
Volatility (6M) Calculated over the trailing 6-month period	27.07%	7.24%	+19.83%
Volatility (1Y) Calculated over the trailing 1-year period	30.46%	10.44%	+20.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.34%	11.73%	+16.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.34%	11.73%	+16.61%

EGGS vs. PAPI - Expense Ratio Comparison

EGGS has a 0.89% expense ratio, which is higher than PAPI's 0.29% expense ratio.

Dividends

EGGS vs. PAPI - Dividend Comparison

EGGS's dividend yield for the trailing twelve months is around 19.32%, more than PAPI's 7.42% yield.

Position	TTM	2025	2024	2023
EGGS NestYield Total Return Guard ETF	19.32%	14.52%	0.00%	0.00%
PAPI Parametric Equity Premium Income ETF	7.42%	7.59%	7.07%	1.45%

Frequently Asked Questions

Can I hold both EGGS and PAPI in my portfolio?

EGGS and PAPI have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EGGS or PAPI?

EGGS has higher volatility (16.49%) compared to PAPI (3.49%). In terms of maximum drawdown, EGGS dropped -24.23% vs PAPI's -14.27%.

Which ETF is better, EGGS or PAPI?

On 1-year performance, PAPI leads with 19.72% vs 7.11% for EGGS. On fees, PAPI is cheaper at 0.29% per year. On volatility, PAPI has been the lower-risk option at 3.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EGGS or PAPI?

Over the 1-year period, PAPI has performed better with a 19.72% return vs 7.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EGGS or PAPI?

PAPI is cheaper with a 0.29% expense ratio, compared with 0.89% for EGGS.

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

EGGS has the higher dividend yield at 19.32%, compared with 7.42% for PAPI.

What is the main difference between EGGS and PAPI?

They also come from different issuers: NestYield and Morgan Stanley. Their fees differ too: 0.89% for EGGS and 0.29% for PAPI.

Which has better risk-adjusted returns?

PAPI currently has the higher Sharpe Ratio (1.77 vs 0.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.