RDVI vs. PAPI
Compare and contrast key facts about FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI) and Parametric Equity Premium Income ETF (PAPI).
RDVI and PAPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RDVI is a passively managed fund by FT Vest that tracks the performance of the NASDAQ US Rising Dividend Achievers. It was launched on Oct 19, 2022. PAPI is an actively managed fund by Morgan Stanley. It was launched on Oct 16, 2023.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: RDVI or PAPI.
Key characteristics
| RDVI | PAPI | |
|---|---|---|
| YTD Return | 21.32% | 13.24% |
| 1Y Return | 37.07% | 21.39% |
| Sharpe Ratio | 2.47 | 2.19 |
| Sortino Ratio | 3.61 | 3.15 |
| Omega Ratio | 1.45 | 1.39 |
| Calmar Ratio | 4.66 | 4.83 |
| Martin Ratio | 15.79 | 12.46 |
| Ulcer Index | 2.33% | 1.70% |
| Daily Std Dev | 14.86% | 9.66% |
| Max Drawdown | -12.56% | -4.39% |
| Current Drawdown | -0.76% | -0.53% |
Correlation
The correlation between RDVI and PAPI is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
RDVI vs. PAPI - Performance Comparison
In the year-to-date period, RDVI achieves a 21.32% return, which is significantly higher than PAPI's 13.24% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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RDVI vs. PAPI - Expense Ratio Comparison
RDVI has a 0.75% expense ratio, which is higher than PAPI's 0.29% expense ratio.
Risk-Adjusted Performance
RDVI vs. PAPI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI) 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.
Dividends
RDVI vs. PAPI - Dividend Comparison
RDVI's dividend yield for the trailing twelve months is around 7.88%, more than PAPI's 6.93% yield.
| TTM | 2023 | 2022 | |
|---|---|---|---|
RDVI FT Cboe Vest Rising Dividend Achievers Target Income ETF | 7.88% | 8.45% | 1.53% |
PAPI Parametric Equity Premium Income ETF | 6.93% | 1.45% | 0.00% |
Drawdowns
RDVI vs. PAPI - Drawdown Comparison
The maximum RDVI drawdown since its inception was -12.56%, which is greater than PAPI's maximum drawdown of -4.39%. Use the drawdown chart below to compare losses from any high point for RDVI and PAPI. For additional features, visit the drawdowns tool.
Volatility
RDVI vs. PAPI - Volatility Comparison
FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI) has a higher volatility of 7.02% compared to Parametric Equity Premium Income ETF (PAPI) at 2.97%. This indicates that RDVI's price experiences larger fluctuations and is considered to be riskier than PAPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.