GOOW vs. PAPI

Last updated Jun 5, 2026

GOOW (Roundhill GOOGL WeeklyPay™ ETF) and PAPI (Parametric Equity Premium Income ETF) are both Derivative Income funds. Both are actively managed. At a 0.06 correlation, their price movements are largely independent. GOOW charges 0.99%/yr vs 0.29%/yr for PAPI.

Performance

GOOW vs. PAPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill GOOGL WeeklyPay™ ETF (GOOW) 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, GOOW achieves a 20.63% return, which is significantly higher than PAPI's 6.49% return.

GOOW

• 1D: 4.51%
• 1M: -5.12%
• YTD: 20.63%
• 6M: 17.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PAPI

• 1D: 0.64%
• 1M: 0.17%
• YTD: 6.49%
• 6M: 6.38%
• 1Y: 13.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GOOW vs. PAPI - Yearly Performance Comparison

	2026 (YTD)	2025
GOOW Roundhill GOOGL WeeklyPay™ ETF	20.63%	75.51%
PAPI Parametric Equity Premium Income ETF	6.49%	3.65%

Correlation

The correlation between GOOW and PAPI is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 25, 2025	0.06

GOOW vs. PAPI - Sectors Allocation Comparison

Sectors	GOOW	PAPI
Communication Services	100.0%	5.4%
Basic Materials	-	7.8%
Consumer Cyclical	-	12.1%
Consumer Defensive	-	10.1%
Energy	-	11.6%
Financial Services	-	9.9%
Healthcare	-	10.7%
Industrials	-	9.9%
Real Estate	-	-
Technology	-	12.5%
Utilities	-	10.1%

Return for Risk

GOOW 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: 38
PAPI Sharpe Ratio Rank: 37
PAPI Sortino Ratio Rank: 39
PAPI Omega Ratio Rank: 35
PAPI Calmar Ratio Rank: 41
PAPI Martin Ratio Rank: 35

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.

GOOW vs. PAPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill GOOGL WeeklyPay™ ETF (GOOW) 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

	GOOW	PAPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.31	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.71	0.90	+2.81

Drawdowns

GOOW vs. PAPI - Drawdown Comparison

The maximum GOOW drawdown since its inception was -24.88%, which is greater than PAPI's maximum drawdown of -14.27%. Use the drawdown chart below to compare losses from any high point for GOOW and PAPI.

Drawdown Indicators

	GOOW	PAPI	Difference
Max Drawdown Largest peak-to-trough decline	-24.88%	-14.27%	-10.61%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.86%	—
Current Drawdown Current decline from peak	-9.28%	-4.45%	-4.83%
Average Drawdown Average peak-to-trough decline	-4.82%	-2.73%	-2.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.55%	—

Volatility

Volatility by Period

	GOOW	PAPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.02%	—
Volatility (1Y) Calculated over the trailing 1-year period	37.56%	10.47%	+27.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.56%	11.76%	+25.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.56%	11.76%	+25.80%

GOOW vs. PAPI - Expense Ratio Comparison

GOOW has a 0.99% expense ratio, which is higher than PAPI's 0.29% expense ratio.

Dividends

GOOW vs. PAPI - Dividend Comparison

GOOW's dividend yield for the trailing twelve months is around 33.69%, more than PAPI's 7.57% yield.

Position	TTM	2025	2024	2023
GOOW Roundhill GOOGL WeeklyPay™ ETF	33.69%	19.77%	0.00%	0.00%
PAPI Parametric Equity Premium Income ETF	7.57%	7.59%	7.07%	1.45%

Frequently Asked Questions

Can I hold both GOOW and PAPI in my portfolio?

GOOW and PAPI have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GOOW or PAPI?

On fees, PAPI is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GOOW or PAPI?

PAPI is cheaper with a 0.29% expense ratio, compared with 0.99% for GOOW.

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

GOOW has the higher dividend yield at 33.69%, compared with 7.57% for PAPI.

What is the main difference between GOOW and PAPI?

They also come from different issuers: Roundhill and Morgan Stanley. Their fees differ too: 0.99% for GOOW and 0.29% for PAPI.