ODTE vs. PEPS

Last updated Jun 7, 2026

ODTE (VegaShares SPX NDX RTY Premium Income ETF) and PEPS (Parametric Equity Plus ETF) are both Derivative Income funds. Both are actively managed. Their correlation of 0.93 suggests significant overlap in exposure. ODTE charges 0.76%/yr vs 0.10%/yr for PEPS.

Performance

ODTE vs. PEPS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VegaShares SPX NDX RTY Premium Income ETF (ODTE) and Parametric Equity Plus ETF (PEPS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ODTE

• 1D: -3.53%
• 1M: -1.06%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PEPS

• 1D: 0.36%
• 1M: 1.70%
• YTD: 8.12%
• 6M: 8.19%
• 1Y: 27.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ODTE vs. PEPS - Yearly Performance Comparison

	2026 (YTD)
ODTE VegaShares SPX NDX RTY Premium Income ETF	9.10%
PEPS Parametric Equity Plus ETF	12.14%

Correlation

The correlation between ODTE and PEPS is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 6, 2026	0.93

Return for Risk

ODTE 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: 70
PEPS Sharpe Ratio Rank: 71
PEPS Sortino Ratio Rank: 66
PEPS Omega Ratio Rank: 72
PEPS Calmar Ratio Rank: 63
PEPS Martin Ratio Rank: 77

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.

ODTE vs. PEPS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VegaShares SPX NDX RTY Premium Income ETF (ODTE) 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

	ODTE	PEPS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.46	0.94	+3.52

Drawdowns

ODTE vs. PEPS - Drawdown Comparison

The maximum ODTE drawdown since its inception was -3.86%, smaller than the maximum PEPS drawdown of -21.26%. Use the drawdown chart below to compare losses from any high point for ODTE and PEPS.

Drawdown Indicators

	ODTE	PEPS	Difference
Max Drawdown Largest peak-to-trough decline	-3.86%	-21.26%	+17.40%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.80%	—
Current Drawdown Current decline from peak	-3.86%	-2.80%	-1.06%
Average Drawdown Average peak-to-trough decline	-0.47%	-2.77%	+2.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.11%	—

Volatility

Volatility by Period

	ODTE	PEPS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.33%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.67%	13.40%	+1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.67%	18.41%	-3.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.67%	18.41%	-3.74%

ODTE vs. PEPS - Expense Ratio Comparison

ODTE has a 0.76% expense ratio, which is higher than PEPS's 0.10% expense ratio.

Dividends

ODTE vs. PEPS - Dividend Comparison

ODTE's dividend yield for the trailing twelve months is around 2.19%, more than PEPS's 0.90% yield.

Position	TTM	2025	2024
ODTE VegaShares SPX NDX RTY Premium Income ETF	2.19%	0.00%	0.00%
PEPS Parametric Equity Plus ETF	0.90%	1.00%	0.17%

Frequently Asked Questions

Can I hold both ODTE and PEPS in my portfolio?

With a correlation of 0.93, ODTE and PEPS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, ODTE 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, ODTE or PEPS?

PEPS is cheaper with a 0.10% expense ratio, compared with 0.76% for ODTE.

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

ODTE has the higher dividend yield at 2.19%, compared with 0.90% for PEPS.

What is the main difference between ODTE and PEPS?

They also come from different issuers: VegaShares and Parametric. Their fees differ too: 0.76% for ODTE and 0.10% for PEPS.