HOII vs. PAPI
HOII (REX HOOD Growth & Income 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. HOII charges 0.99%/yr vs 0.29%/yr for PAPI.
Performance
HOII vs. PAPI - Performance Comparison
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Returns By Period
In the year-to-date period, HOII achieves a -24.85% return, which is significantly lower than PAPI's 6.49% return.
HOII
- 1D
- 6.07%
- 1M
- 15.19%
- YTD
- -24.85%
- 6M
- -37.50%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAPI
- 1D
- 0.64%
- 1M
- 0.17%
- YTD
- 6.49%
- 6M
- 6.38%
- 1Y
- 13.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HOII vs. PAPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HOII REX HOOD Growth & Income ETF | -24.85% | -20.87% |
PAPI Parametric Equity Premium Income ETF | 6.49% | 3.45% |
Correlation
The correlation between HOII 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 Nov 5, 2025 | 0.06 |
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Return for Risk
HOII vs. PAPI — Risk / Return Rank
HOII
PAPI
HOII vs. PAPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for REX HOOD Growth & Income ETF (HOII) 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.
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Sharpe Ratios by Period
| HOII | 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 | -0.85 | 0.90 | -1.74 |
Drawdowns
HOII vs. PAPI - Drawdown Comparison
The maximum HOII drawdown since its inception was -55.38%, which is greater than PAPI's maximum drawdown of -14.27%. Use the drawdown chart below to compare losses from any high point for HOII and PAPI.
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Drawdown Indicators
| HOII | PAPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.38% | -14.27% | -41.11% |
Max Drawdown (1Y)Largest decline over 1 year | — | -6.86% | — |
Current DrawdownCurrent decline from peak | -43.39% | -4.45% | -38.94% |
Average DrawdownAverage peak-to-trough decline | -36.89% | -2.73% | -34.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.55% | — |
Volatility
HOII vs. PAPI - Volatility Comparison
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Volatility by Period
| HOII | 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 | 70.62% | 10.47% | +60.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.62% | 11.76% | +58.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.62% | 11.76% | +58.86% |
HOII vs. PAPI - Expense Ratio Comparison
HOII has a 0.99% expense ratio, which is higher than PAPI's 0.29% expense ratio.
Dividends
HOII vs. PAPI - Dividend Comparison
HOII's dividend yield for the trailing twelve months is around 19.36%, more than PAPI's 7.57% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
HOII REX HOOD Growth & Income ETF | 19.36% | 4.41% | 0.00% | 0.00% |
PAPI Parametric Equity Premium Income ETF | 7.57% | 7.59% | 7.07% | 1.45% |
Frequently Asked Questions
HOII 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.
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.
PAPI is cheaper with a 0.29% expense ratio, compared with 0.99% for HOII.
HOII has the higher dividend yield at 19.36%, compared with 7.57% for PAPI.
They also come from different issuers: REX and Morgan Stanley. Their fees differ too: 0.99% for HOII and 0.29% for PAPI.
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