PAPI vs. ARMW
PAPI (Parametric Equity Premium Income ETF) and ARMW (Roundhill ARM WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. At a correlation of -0.01, they often move in opposite directions. PAPI charges 0.29%/yr vs 0.99%/yr for ARMW.
Performance
PAPI vs. ARMW - Performance Comparison
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Returns By Period
In the year-to-date period, PAPI achieves a 8.42% return, which is significantly lower than ARMW's 265.63% return.
PAPI
- 1D
- -0.40%
- 1M
- 2.42%
- YTD
- 8.42%
- 6M
- 7.41%
- 1Y
- 14.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ARMW
- 1D
- 2.53%
- 1M
- -5.45%
- YTD
- 265.63%
- 6M
- 263.04%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAPI vs. ARMW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PAPI Parametric Equity Premium Income ETF | 8.42% | 1.17% |
ARMW Roundhill ARM WeeklyPay ETF | 265.63% | -41.28% |
Correlation
The correlation between PAPI and ARMW is -0.01, 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 Oct 23, 2025 | -0.01 |
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Return for Risk
PAPI vs. ARMW — Risk / Return Rank
PAPI
ARMW
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PAPI vs. ARMW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Parametric Equity Premium Income ETF (PAPI) and Roundhill ARM WeeklyPay ETF (ARMW). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PAPI | ARMW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.24 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | — | — |
| Martin ratioReturn relative to average drawdown | 5.32 | — | — |
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Drawdowns
PAPI vs. ARMW - Drawdown Comparison
The maximum PAPI drawdown since its inception was -14.27%, smaller than the maximum ARMW drawdown of -48.47%. Use the drawdown chart below to compare losses from any high point for PAPI and ARMW.
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Drawdown Indicators
| PAPI | ARMW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.27% | -48.47% | +34.20% |
Max Drawdown (1Y)Largest decline over 1 year | -6.86% | — | — |
Current DrawdownCurrent decline from peak | -2.72% | -26.41% | +23.69% |
Average DrawdownAverage peak-to-trough decline | -2.77% | -25.29% | +22.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | — | — |
Volatility
PAPI vs. ARMW - Volatility Comparison
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Volatility by Period
| PAPI | ARMW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.77% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 7.10% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 10.56% | 94.08% | -83.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.72% | 94.08% | -82.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.72% | 94.08% | -82.36% |
PAPI vs. ARMW - Expense Ratio Comparison
PAPI has a 0.29% expense ratio, which is lower than ARMW's 0.99% expense ratio.
Dividends
PAPI vs. ARMW - Dividend Comparison
PAPI's dividend yield for the trailing twelve months is around 7.43%, less than ARMW's 33.19% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
ARMW Roundhill ARM WeeklyPay ETF | 33.19% | 16.38% | 0.00% | 0.00% |
PAPI Parametric Equity Premium Income ETF | 7.43% | 7.59% | 7.07% | 1.45% |
Frequently Asked Questions
PAPI and ARMW have a correlation of -0.01, 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 ARMW.
ARMW has the higher dividend yield at 33.19%, compared with 7.43% for PAPI.
They also come from different issuers: Morgan Stanley and Roundhill Investments. Their fees differ too: 0.29% for PAPI and 0.99% for ARMW.
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