PAPI vs. BST
PAPI (Parametric Equity Premium Income ETF) is Derivative Income fund actively managed by Morgan Stanley, while BST (BlackRock Science and Technology Trust) is a stock. Over the past year, PAPI returned 12.60% vs 43.97% for BST. At a 0.15 correlation, their price movements are largely independent.
Performance
PAPI vs. BST - Performance Comparison
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Returns By Period
In the year-to-date period, PAPI achieves a 6.13% return, which is significantly lower than BST's 22.69% return.
PAPI
- 1D
- 0.45%
- 1M
- 1.27%
- YTD
- 6.13%
- 6M
- 5.29%
- 1Y
- 12.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BST
- 1D
- 1.44%
- 1M
- 9.19%
- YTD
- 22.69%
- 6M
- 28.20%
- 1Y
- 43.97%
- 3Y*
- 22.89%
- 5Y*
- 5.45%
- 10Y*
- 20.30%
PAPI vs. BST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PAPI Parametric Equity Premium Income ETF | 6.13% | 6.33% | 8.90% | 4.53% |
BST BlackRock Science and Technology Trust | 22.69% | 23.65% | 17.96% | 9.60% |
Correlation
The correlation between PAPI and BST 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 (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023 | 0.15 |
The correlation between PAPI and BST shifts across timeframes, from 0.04 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PAPI vs. BST — Risk / Return Rank
PAPI
BST
PAPI vs. BST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Parametric Equity Premium Income ETF (PAPI) and BlackRock Science and Technology Trust (BST). 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 | BST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.40 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 2.88 | -1.04 |
| Martin ratioReturn relative to average drawdown | 4.70 | 9.24 | -4.54 |
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Drawdowns
PAPI vs. BST - Drawdown Comparison
The maximum PAPI drawdown since its inception was -14.27%, smaller than the maximum BST drawdown of -47.72%. Use the drawdown chart below to compare losses from any high point for PAPI and BST.
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Drawdown Indicators
| PAPI | BST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.27% | -47.72% | +33.45% |
Max Drawdown (1Y)Largest decline over 1 year | -6.86% | -15.31% | +8.45% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.37% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -47.72% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.72% | — |
Current DrawdownCurrent decline from peak | -4.77% | -3.19% | -1.58% |
Average DrawdownAverage peak-to-trough decline | -2.76% | -12.94% | +10.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 4.77% | -2.08% |
Volatility
PAPI vs. BST - Volatility Comparison
The current volatility for Parametric Equity Premium Income ETF (PAPI) is 2.66%, while BlackRock Science and Technology Trust (BST) has a volatility of 9.33%. This indicates that PAPI experiences smaller price fluctuations and is considered to be less risky than BST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAPI | BST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 9.33% | -6.67% |
Volatility (6M)Calculated over the trailing 6-month period | 7.06% | 16.84% | -9.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.54% | 19.56% | -9.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.75% | 23.79% | -12.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.75% | 25.84% | -14.09% |
Dividends
PAPI vs. BST - Dividend Comparison
PAPI's dividend yield for the trailing twelve months is around 7.59%, less than BST's 8.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BST BlackRock Science and Technology Trust | 8.75% | 10.36% | 8.21% | 8.91% | 10.57% | 5.38% | 3.85% | 10.52% | 6.41% | 4.80% | 6.69% | 6.93% |
PAPI Parametric Equity Premium Income ETF | 7.59% | 7.59% | 7.07% | 1.45% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PAPI and BST 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.
BST has higher volatility (9.33%) compared to PAPI (2.66%). In terms of maximum drawdown, PAPI dropped -14.27% vs BST's -47.72%.
BST currently has the higher Sharpe Ratio (2.26 vs 1.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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