PAPI vs. SPYI
Compare and contrast key facts about Parametric Equity Premium Income ETF (PAPI) and NEOS S&P 500 High Income ETF (SPYI).
PAPI and SPYI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PAPI is an actively managed fund by Morgan Stanley. It was launched on Oct 16, 2023. SPYI is an actively managed fund by Neos. It was launched on Aug 29, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PAPI or SPYI.
Correlation
The correlation between PAPI and SPYI is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
PAPI vs. SPYI - Performance Comparison
Key characteristics
PAPI:
0.23
SPYI:
0.35
PAPI:
0.42
SPYI:
0.61
PAPI:
1.06
SPYI:
1.10
PAPI:
0.22
SPYI:
0.35
PAPI:
0.89
SPYI:
1.80
PAPI:
3.59%
SPYI:
3.21%
PAPI:
13.60%
SPYI:
16.47%
PAPI:
-14.27%
SPYI:
-16.47%
PAPI:
-8.49%
SPYI:
-9.84%
Returns By Period
In the year-to-date period, PAPI achieves a -2.09% return, which is significantly higher than SPYI's -6.03% return.
PAPI
-2.09%
-3.12%
-5.24%
3.63%
N/A
N/A
SPYI
-6.03%
-3.63%
-4.72%
7.03%
N/A
N/A
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PAPI vs. SPYI - Expense Ratio Comparison
PAPI has a 0.29% expense ratio, which is lower than SPYI's 0.68% expense ratio.
Risk-Adjusted Performance
PAPI vs. SPYI — Risk-Adjusted Performance Rank
PAPI
SPYI
PAPI vs. SPYI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Parametric Equity Premium Income ETF (PAPI) and NEOS S&P 500 High Income ETF (SPYI). 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.
Dividends
PAPI vs. SPYI - Dividend Comparison
PAPI's dividend yield for the trailing twelve months is around 7.46%, less than SPYI's 13.31% yield.
| TTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
PAPI Parametric Equity Premium Income ETF | 7.46% | 7.07% | 1.45% | 0.00% |
SPYI NEOS S&P 500 High Income ETF | 13.31% | 12.04% | 12.01% | 4.10% |
Drawdowns
PAPI vs. SPYI - Drawdown Comparison
The maximum PAPI drawdown since its inception was -14.27%, smaller than the maximum SPYI drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for PAPI and SPYI. For additional features, visit the drawdowns tool.
Volatility
PAPI vs. SPYI - Volatility Comparison
The current volatility for Parametric Equity Premium Income ETF (PAPI) is 9.21%, while NEOS S&P 500 High Income ETF (SPYI) has a volatility of 12.60%. This indicates that PAPI experiences smaller price fluctuations and is considered to be less risky than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.