PAPI vs. ARMW

Last updated Jun 5, 2026

PAPI (Parametric Equity Premium Income ETF) and ARMW (Roundhill ARM WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. At a 0.04 correlation, their price movements are largely independent. PAPI charges 0.29%/yr vs 0.99%/yr for ARMW.

Performance

PAPI vs. ARMW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Parametric Equity Premium Income ETF (PAPI) and Roundhill ARM WeeklyPay ETF (ARMW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAPI achieves a 6.49% return, which is significantly lower than ARMW's 336.58% return.

PAPI

• 1D: 0.64%
• 1M: 0.17%
• YTD: 6.49%
• 6M: 6.38%
• 1Y: 13.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARMW

• 1D: -5.75%
• 1M: 108.38%
• YTD: 336.58%
• 6M: 222.15%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PAPI vs. ARMW - Yearly Performance Comparison

	2026 (YTD)	2025
PAPI Parametric Equity Premium Income ETF	6.49%	0.82%
ARMW Roundhill ARM WeeklyPay ETF	336.58%	-40.49%

Correlation

The correlation between PAPI and ARMW is 0.04, 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 24, 2025	0.04

PAPI vs. ARMW - Sectors Allocation Comparison

Sectors	PAPI	ARMW
Technology	12.5%	36.0%
Consumer Cyclical	12.1%	-
Energy	11.6%	-
Healthcare	10.7%	-
Utilities	10.1%	-
Consumer Defensive	10.1%	-
Financial Services	9.9%	-
Industrials	9.9%	-
Basic Materials	7.8%	-
Communication Services	5.4%	-
Real Estate	-	-

Return for Risk

PAPI vs. ARMW — Risk / Return Rank

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

PAPI

PAPI Risk / Return Rank: 38
PAPI Sharpe Ratio Rank: 37
PAPI Sortino Ratio Rank: 39
PAPI Omega Ratio Rank: 35
PAPI Calmar Ratio Rank: 41
PAPI Martin Ratio Rank: 35

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.

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.

	PAPI	ARMW	Difference
Sharpe ratio: Return per unit of total volatility	1.31	—	—
Sortino ratio: Return per unit of downside risk	1.98	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	1.99	—	—
Martin ratio: Return relative to average drawdown	5.35	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PAPI	ARMW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	4.33	-3.43

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.

Drawdown Indicators

	PAPI	ARMW	Difference
Max Drawdown Largest peak-to-trough decline	-14.27%	-48.47%	+34.20%
Max Drawdown (1Y) Largest decline over 1 year	-6.86%	—	—
Current Drawdown Current decline from peak	-4.45%	-5.75%	+1.30%
Average Drawdown Average peak-to-trough decline	-2.73%	-26.42%	+23.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.55%	—	—

Volatility

Volatility by Period

	PAPI	ARMW	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	10.47%	88.57%	-78.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.76%	88.57%	-76.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.76%	88.57%	-76.81%

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 7.57%, less than ARMW's 16.13% yield.

Position	TTM	2025	2024	2023
ARMW Roundhill ARM WeeklyPay ETF	16.13%	16.38%	0.00%	0.00%
PAPI Parametric Equity Premium Income ETF	7.57%	7.59%	7.07%	1.45%

Frequently Asked Questions

Can I hold both PAPI and ARMW in my portfolio?

PAPI and ARMW have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PAPI or ARMW?

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.

Which ETF is cheaper, PAPI or ARMW?

PAPI is cheaper with a 0.29% expense ratio, compared with 0.99% for ARMW.

Which ETF pays a higher dividend yield, PAPI or ARMW?

ARMW has the higher dividend yield at 16.13%, compared with 7.57% for PAPI.

What is the main difference between PAPI and ARMW?

They also come from different issuers: Morgan Stanley and Roundhill Investments. Their fees differ too: 0.29% for PAPI and 0.99% for ARMW.