SIOO vs. PAPI

Last updated Apr 2, 2026

Compare and contrast key facts about VistaShares Target 15 S&P 100 Distribution ETF (SIOO) and Parametric Equity Premium Income ETF (PAPI).

SIOO and PAPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SIOO is a passively managed fund by VistaShares that tracks the performance of the S&P 100. It was launched on Dec 10, 2025. PAPI is an actively managed fund by Morgan Stanley. It was launched on Oct 16, 2023.

Performance

SIOO vs. PAPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VistaShares Target 15 S&P 100 Distribution ETF (SIOO) and Parametric Equity Premium Income ETF (PAPI). The values are adjusted to include any dividend payments, if applicable.

SIOO vs. PAPI - Yearly Performance Comparison

	2026 (YTD)	2025
SIOO VistaShares Target 15 S&P 100 Distribution ETF	-2.74%	0.77%
PAPI Parametric Equity Premium Income ETF	8.23%	-1.48%

Returns By Period

In the year-to-date period, SIOO achieves a -2.74% return, which is significantly lower than PAPI's 8.23% return.

SIOO

• 1D: 0.49%
• 1M: -2.12%
• YTD: -2.74%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PAPI

• 1D: -0.07%
• 1M: -2.89%
• YTD: 8.23%
• 6M: 9.24%
• 1Y: 11.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SIOO vs. PAPI - Expense Ratio Comparison

SIOO has a 0.59% expense ratio, which is higher than PAPI's 0.29% expense ratio.

SIOO

VistaShares Target 15 S&P 100 Distribution ETF

PAPI

Parametric Equity Premium Income ETF

Return for Risk

SIOO vs. PAPI — Risk / Return Rank

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

PAPI

PAPI Risk / Return Rank: 40
PAPI Sharpe Ratio Rank: 41
PAPI Sortino Ratio Rank: 42
PAPI Omega Ratio Rank: 39
PAPI Calmar Ratio Rank: 36
PAPI Martin Ratio Rank: 42

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.

SIOO vs. PAPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VistaShares Target 15 S&P 100 Distribution ETF (SIOO) 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.

Sharpe Ratios by Period

	SIOO	PAPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.81	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.57	1.01	-1.59

Correlation

The correlation between SIOO and PAPI is 0.24, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SIOO vs. PAPI - Dividend Comparison

SIOO's dividend yield for the trailing twelve months is around 5.27%, less than PAPI's 7.51% yield.

	TTM	2025	2024	2023
SIOO VistaShares Target 15 S&P 100 Distribution ETF	5.27%	1.27%	0.00%	0.00%
PAPI Parametric Equity Premium Income ETF	7.51%	7.59%	7.07%	1.45%

Drawdowns

SIOO vs. PAPI - Drawdown Comparison

The maximum SIOO drawdown since its inception was -6.86%, smaller than the maximum PAPI drawdown of -14.27%. Use the drawdown chart below to compare losses from any high point for SIOO and PAPI.

Drawdown Indicators

	SIOO	PAPI	Difference
Max Drawdown Largest peak-to-trough decline	-6.86%	-14.27%	+7.41%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.59%	—
Current Drawdown Current decline from peak	-3.40%	-2.89%	-0.51%
Average Drawdown Average peak-to-trough decline	-1.35%	-2.57%	+1.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.73%	—

Volatility

Volatility by Period

	SIOO	PAPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.50%	—
Volatility (1Y) Calculated over the trailing 1-year period	11.47%	14.11%	-2.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.47%	11.95%	-0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.47%	11.95%	-0.48%