FTQI vs. PAPI
Compare and contrast key facts about First Trust Nasdaq BuyWrite Income ETF (FTQI) and Parametric Equity Premium Income ETF (PAPI).
FTQI and PAPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FTQI is a passively managed fund by First Trust that tracks the performance of the NASDAQ-100 Index. It was launched on Jan 6, 2014. PAPI is an actively managed fund by Morgan Stanley. It was launched on Oct 16, 2023.
Performance
FTQI vs. PAPI - Performance Comparison
Loading graphics...
FTQI vs. PAPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FTQI First Trust Nasdaq BuyWrite Income ETF | -1.37% | 12.68% | 18.30% | 7.85% |
PAPI Parametric Equity Premium Income ETF | 8.31% | 6.33% | 8.90% | 5.36% |
Returns By Period
In the year-to-date period, FTQI achieves a -1.37% return, which is significantly lower than PAPI's 8.31% return.
FTQI
- 1D
- 3.05%
- 1M
- -1.40%
- YTD
- -1.37%
- 6M
- 2.69%
- 1Y
- 19.08%
- 3Y*
- 13.75%
- 5Y*
- 9.36%
- 10Y*
- 6.85%
PAPI
- 1D
- 0.54%
- 1M
- -2.62%
- YTD
- 8.31%
- 6M
- 9.20%
- 1Y
- 11.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
FTQI vs. PAPI - Expense Ratio Comparison
FTQI has a 0.75% expense ratio, which is higher than PAPI's 0.29% expense ratio.
Return for Risk
FTQI vs. PAPI — Risk / Return Rank
FTQI
PAPI
FTQI vs. PAPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq BuyWrite Income ETF (FTQI) 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.
| FTQI | PAPI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.12 | 0.82 | +0.30 |
Sortino ratioReturn per unit of downside risk | 1.70 | 1.23 | +0.47 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.16 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 1.66 | 1.08 | +0.57 |
Martin ratioReturn relative to average drawdown | 9.64 | 4.62 | +5.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| FTQI | PAPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.12 | 0.82 | +0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 1.02 | -0.56 |
Correlation
The correlation between FTQI and PAPI is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FTQI vs. PAPI - Dividend Comparison
FTQI's dividend yield for the trailing twelve months is around 11.97%, more than PAPI's 7.50% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTQI First Trust Nasdaq BuyWrite Income ETF | 11.97% | 11.46% | 11.66% | 11.49% | 9.85% | 3.05% | 3.27% | 2.95% | 3.27% | 2.74% | 3.02% | 3.54% |
PAPI Parametric Equity Premium Income ETF | 7.50% | 7.59% | 7.07% | 1.45% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FTQI vs. PAPI - Drawdown Comparison
The maximum FTQI drawdown since its inception was -19.42%, which is greater than PAPI's maximum drawdown of -14.27%. Use the drawdown chart below to compare losses from any high point for FTQI and PAPI.
Loading graphics...
Drawdown Indicators
| FTQI | PAPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.42% | -14.27% | -5.15% |
Max Drawdown (1Y)Largest decline over 1 year | -11.75% | -11.59% | -0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -19.42% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.42% | — | — |
Current DrawdownCurrent decline from peak | -3.38% | -2.82% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -3.81% | -2.57% | -1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 2.72% | -0.70% |
Volatility
FTQI vs. PAPI - Volatility Comparison
First Trust Nasdaq BuyWrite Income ETF (FTQI) has a higher volatility of 5.30% compared to Parametric Equity Premium Income ETF (PAPI) at 3.21%. This indicates that FTQI'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.
Loading graphics...
Volatility by Period
| FTQI | PAPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.30% | 3.21% | +2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 8.88% | 7.51% | +1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.12% | 14.14% | +2.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.83% | 11.96% | +2.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.41% | 11.96% | +1.45% |