MSTK vs. PEPS

Last updated Jun 4, 2026

MSTK (Tuttle Capital MSTR 0DTE Covered Call ETF) and PEPS (Parametric Equity Plus ETF) are both Derivative Income funds. Both are actively managed. At a 0.42 correlation, their price movements are largely independent. MSTK charges 0.99%/yr vs 0.10%/yr for PEPS.

Performance

MSTK vs. PEPS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tuttle Capital MSTR 0DTE Covered Call ETF (MSTK) and Parametric Equity Plus ETF (PEPS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MSTK

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PEPS

• 1D: -0.51%
• 1M: 6.44%
• YTD: 10.67%
• 6M: 10.79%
• 1Y: 31.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTK vs. PEPS - Yearly Performance Comparison

	2026 (YTD)	2025
MSTK Tuttle Capital MSTR 0DTE Covered Call ETF	-20.94%	-47.41%
PEPS Parametric Equity Plus ETF	10.67%	2.06%

Correlation

The correlation between MSTK and PEPS is 0.42, 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 Oct 24, 2025	0.42

Return for Risk

MSTK vs. PEPS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PEPS

PEPS Risk / Return Rank: 73
PEPS Sharpe Ratio Rank: 76
PEPS Sortino Ratio Rank: 71
PEPS Omega Ratio Rank: 75
PEPS Calmar Ratio Rank: 66
PEPS Martin Ratio Rank: 79

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.

MSTK vs. PEPS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tuttle Capital MSTR 0DTE Covered Call ETF (MSTK) and Parametric Equity Plus ETF (PEPS). 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

	MSTK	PEPS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.45	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.05	—

Drawdowns

Drawdown Indicators

	MSTK	PEPS	Difference
Max Drawdown Largest peak-to-trough decline	—	-21.26%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-9.80%	—
Current Drawdown Current decline from peak	—	-0.51%	—
Average Drawdown Average peak-to-trough decline	—	-2.77%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.09%	—

Volatility

Volatility by Period

	MSTK	PEPS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.77%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	13.06%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	18.31%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	18.31%	—

MSTK vs. PEPS - Expense Ratio Comparison

MSTK has a 0.99% expense ratio, which is higher than PEPS's 0.10% expense ratio.

Dividends

MSTK vs. PEPS - Dividend Comparison

MSTK's dividend yield for the trailing twelve months is around 49.03%, more than PEPS's 0.88% yield.

Position	TTM	2025	2024
MSTK Tuttle Capital MSTR 0DTE Covered Call ETF	49.03%	26.75%	0.00%
PEPS Parametric Equity Plus ETF	0.88%	1.00%	0.17%

Frequently Asked Questions

Can I hold both MSTK and PEPS in my portfolio?

MSTK and PEPS have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSTK or PEPS?

On fees, PEPS is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSTK or PEPS?

PEPS is cheaper with a 0.10% expense ratio, compared with 0.99% for MSTK.

Which ETF pays a higher dividend yield, MSTK or PEPS?

MSTK has the higher dividend yield at 49.03%, compared with 0.88% for PEPS.

What is the main difference between MSTK and PEPS?

They also come from different issuers: Tuttle Capital Management and Parametric. Their fees differ too: 0.99% for MSTK and 0.10% for PEPS.