XEY vs. PAPI
XEY (GraniteShares YieldBOOST Ether ETF) and PAPI (Parametric Equity Premium Income ETF) are both Derivative Income funds. Both are actively managed. At a correlation of -0.08, they often move in opposite directions. XEY charges 1.07%/yr vs 0.29%/yr for PAPI.
Performance
XEY vs. PAPI - Performance Comparison
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Returns By Period
XEY
- 1D
- 1.01%
- 1M
- -8.21%
- 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*
- —
XEY vs. PAPI - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
XEY GraniteShares YieldBOOST Ether ETF | -10.97% |
PAPI Parametric Equity Premium Income ETF | 3.85% |
Correlation
The correlation between XEY and PAPI is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 28, 2026 | -0.08 |
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Return for Risk
XEY vs. PAPI — Risk / Return Rank
XEY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PAPI
XEY vs. PAPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST Ether ETF (XEY) 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.
| XEY | PAPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.22 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.97 | — |
| Martin ratioReturn relative to average drawdown | — | 4.87 | — |
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Drawdowns
XEY vs. PAPI - Drawdown Comparison
The maximum XEY drawdown since its inception was -15.60%, which is greater than PAPI's maximum drawdown of -14.27%. Use the drawdown chart below to compare losses from any high point for XEY and PAPI.
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Drawdown Indicators
| XEY | PAPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.60% | -14.27% | -1.33% |
Max Drawdown (1Y)Largest decline over 1 year | — | -6.86% | — |
Current DrawdownCurrent decline from peak | -13.83% | -1.74% | -12.09% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -2.77% | -3.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.76% | — |
Volatility
XEY vs. PAPI - Volatility Comparison
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Volatility by Period
| XEY | 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 | 17.25% | 10.42% | +6.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.25% | 11.73% | +5.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.25% | 11.73% | +5.52% |
XEY vs. PAPI - Expense Ratio Comparison
XEY has a 1.07% expense ratio, which is higher than PAPI's 0.29% expense ratio.
Dividends
XEY vs. PAPI - Dividend Comparison
XEY's dividend yield for the trailing twelve months is around 12.34%, 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% |
XEY GraniteShares YieldBOOST Ether ETF | 12.34% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XEY and PAPI have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PAPI is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PAPI is cheaper with a 0.29% expense ratio, compared with 1.07% for XEY.
XEY has the higher dividend yield at 12.34%, compared with 7.48% for PAPI.
They also come from different issuers: GraniteShares and Morgan Stanley. Their fees differ too: 1.07% for XEY and 0.29% for PAPI.
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