TMYY vs. PAPI

Last updated Jul 3, 2026

TMYY (GraniteShares YieldBOOST TSM ETF) and PAPI (Parametric Equity Premium Income ETF) are both Derivative Income funds. Both are actively managed. At a correlation of -0.38, they often move in opposite directions.

Performance

TMYY vs. PAPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST TSM ETF (TMYY) and Parametric Equity Premium Income ETF (PAPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TMYY

• 1D: -1.18%
• 1M: 1.65%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PAPI

• 1D: 1.27%
• 1M: 3.23%
• 6M: 9.52%
• YTD: 9.52%
• 1Y: 13.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TMYY vs. PAPI - Yearly Performance Comparison

	2026 (YTD)
TMYY GraniteShares YieldBOOST TSM ETF	13.25%
PAPI Parametric Equity Premium Income ETF	1.64%

Correlation

The correlation between TMYY and PAPI is -0.38, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 14, 2026	-0.38

Return for Risk

TMYY vs. PAPI — Risk / Return Rank

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

TMYY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PAPI

PAPI Risk / Return Rank: 42
PAPI Sharpe Ratio Rank: 43
PAPI Sortino Ratio Rank: 44
PAPI Omega Ratio Rank: 38
PAPI Calmar Ratio Rank: 46
PAPI Martin Ratio Rank: 37

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.

TMYY vs. PAPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST TSM ETF (TMYY) 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.

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.

	TMYY	PAPI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.29	—
Sortino ratio: Return per unit of downside risk	—	1.93	—
Omega ratio: Gain probability vs. loss probability	—	1.22	—
Calmar ratio: Return relative to maximum drawdown	—	1.97	—
Martin ratio: Return relative to average drawdown	—	4.87	—

Drawdowns

TMYY vs. PAPI - Drawdown Comparison

The maximum TMYY drawdown since its inception was -3.40%, smaller than the maximum PAPI drawdown of -14.27%. Use the drawdown chart below to compare losses from any high point for TMYY and PAPI.

Drawdown Indicators

	TMYY	PAPI	Difference
Max Drawdown Largest peak-to-trough decline	-3.40%	-14.27%	+10.87%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.86%	—
Current Drawdown Current decline from peak	-3.08%	-1.74%	-1.34%
Average Drawdown Average peak-to-trough decline	-0.60%	-2.77%	+2.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.76%	—

Volatility

Volatility by Period

	TMYY	PAPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.23%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.32%	10.42%	+8.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.32%	11.73%	+7.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.32%	11.73%	+7.59%

Dividends

TMYY vs. PAPI - Dividend Comparison

TMYY's dividend yield for the trailing twelve months is around 17.32%, more than PAPI's 7.48% yield.

Position	TTM	2025	2024	2023
PAPI Parametric Equity Premium Income ETF	7.48%	7.59%	7.07%	1.45%
TMYY GraniteShares YieldBOOST TSM ETF	17.32%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMYY and PAPI in my portfolio?

TMYY and PAPI have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, TMYY or PAPI?

TMYY has the higher dividend yield at 17.32%, compared with 7.48% for PAPI.

What is the main difference between TMYY and PAPI?

They also come from different issuers: GraniteShares and Morgan Stanley.