PLT vs. PAPI
Compare and contrast key facts about Defiance Leveraged Long + Income PLTR ETF (PLT) and Parametric Equity Premium Income ETF (PAPI).
PLT and PAPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PLT is an actively managed fund by Defiance. It was launched on Aug 18, 2025. PAPI is an actively managed fund by Morgan Stanley. It was launched on Oct 16, 2023.
Performance
PLT vs. PAPI - Performance Comparison
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PLT vs. PAPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PLT Defiance Leveraged Long + Income PLTR ETF | -11.99% | 13.15% |
PAPI Parametric Equity Premium Income ETF | 8.31% | 2.54% |
Returns By Period
In the year-to-date period, PLT achieves a -11.99% return, which is significantly lower than PAPI's 8.31% return.
PLT
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- -11.99%
- 6M
- -22.31%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAPI
- 1D
- 0.54%
- 1M
- -2.62%
- YTD
- 8.31%
- 6M
- 9.20%
- 1Y
- 11.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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PLT vs. PAPI - Expense Ratio Comparison
PLT has a 1.51% expense ratio, which is higher than PAPI's 0.29% expense ratio.
Return for Risk
PLT vs. PAPI — Risk / Return Rank
PLT
PAPI
PLT vs. PAPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Leveraged Long + Income PLTR ETF (PLT) and Parametric Equity Premium Income ETF (PAPI). 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.
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Sharpe Ratios by Period
| PLT | PAPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.82 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.01 | 1.02 | -1.03 |
Correlation
The correlation between PLT and PAPI is -0.08. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
PLT vs. PAPI - Dividend Comparison
PLT's dividend yield for the trailing twelve months is around 38.02%, more than PAPI's 7.50% yield.
| TTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PLT Defiance Leveraged Long + Income PLTR ETF | 38.02% | 29.28% | 0.00% | 0.00% |
PAPI Parametric Equity Premium Income ETF | 7.50% | 7.59% | 7.07% | 1.45% |
Drawdowns
PLT vs. PAPI - Drawdown Comparison
The maximum PLT drawdown since its inception was -43.74%, which is greater than PAPI's maximum drawdown of -14.27%. Use the drawdown chart below to compare losses from any high point for PLT and PAPI.
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Drawdown Indicators
| PLT | PAPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.74% | -14.27% | -29.47% |
Max Drawdown (1Y)Largest decline over 1 year | — | -11.59% | — |
Current DrawdownCurrent decline from peak | -38.06% | -2.82% | -35.24% |
Average DrawdownAverage peak-to-trough decline | -21.80% | -2.57% | -19.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.72% | — |
Volatility
PLT vs. PAPI - Volatility Comparison
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Volatility by Period
| PLT | PAPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.21% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 7.51% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 69.38% | 14.14% | +55.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.38% | 11.96% | +57.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.38% | 11.96% | +57.42% |