IOYY vs. PAPI
IOYY (GraniteShares YieldBOOST IONQ ETF) and PAPI (Parametric Equity Premium Income ETF) are both Derivative Income funds. Both are actively managed. At a 0.11 correlation, their price movements are largely independent. IOYY charges 1.07%/yr vs 0.29%/yr for PAPI.
Performance
IOYY vs. PAPI - Performance Comparison
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Returns By Period
In the year-to-date period, IOYY achieves a -11.06% return, which is significantly lower than PAPI's 5.81% return.
IOYY
- 1D
- -0.54%
- 1M
- 9.06%
- YTD
- -11.06%
- 6M
- -19.16%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAPI
- 1D
- -0.26%
- 1M
- 0.28%
- YTD
- 5.81%
- 6M
- 5.78%
- 1Y
- 12.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IOYY vs. PAPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IOYY GraniteShares YieldBOOST IONQ ETF | -11.06% | -11.64% |
PAPI Parametric Equity Premium Income ETF | 5.81% | 3.45% |
Correlation
The correlation between IOYY and PAPI is 0.11, 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 Nov 5, 2025 | 0.11 |
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Return for Risk
IOYY vs. PAPI — Risk / Return Rank
IOYY
PAPI
IOYY vs. PAPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST IONQ ETF (IOYY) 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
| IOYY | 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 | -1.00 | 0.88 | -1.88 |
Drawdowns
IOYY vs. PAPI - Drawdown Comparison
The maximum IOYY drawdown since its inception was -38.47%, which is greater than PAPI's maximum drawdown of -14.27%. Use the drawdown chart below to compare losses from any high point for IOYY and PAPI.
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Drawdown Indicators
| IOYY | PAPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.47% | -14.27% | -24.20% |
Max Drawdown (1Y)Largest decline over 1 year | — | -6.86% | — |
Current DrawdownCurrent decline from peak | -27.87% | -5.06% | -22.81% |
Average DrawdownAverage peak-to-trough decline | -23.09% | -2.73% | -20.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.53% | — |
Volatility
IOYY vs. PAPI - Volatility Comparison
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Volatility by Period
| IOYY | 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 | 34.42% | 10.55% | +23.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.42% | 11.76% | +22.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.42% | 11.76% | +22.66% |
IOYY vs. PAPI - Expense Ratio Comparison
IOYY has a 1.07% expense ratio, which is higher than PAPI's 0.29% expense ratio.
Dividends
IOYY vs. PAPI - Dividend Comparison
IOYY's dividend yield for the trailing twelve months is around 121.09%, more than PAPI's 7.62% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IOYY GraniteShares YieldBOOST IONQ ETF | 121.09% | 28.55% | 0.00% | 0.00% |
PAPI Parametric Equity Premium Income ETF | 7.62% | 7.59% | 7.07% | 1.45% |
Frequently Asked Questions
IOYY and PAPI have a correlation of 0.11, 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 1.07% for IOYY.
IOYY has the higher dividend yield at 121.09%, compared with 7.62% for PAPI.
They also come from different issuers: GraniteShares and Morgan Stanley. Their fees differ too: 1.07% for IOYY and 0.29% for PAPI.
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