XRPM vs. PAPI
XRPM (Amplify XRP 3% Monthly Option Income ETF) and PAPI (Parametric Equity Premium Income ETF) are both Derivative Income funds. Both are actively managed. At a correlation of -0.04, they often move in opposite directions. XRPM charges 0.75%/yr vs 0.29%/yr for PAPI.
Performance
XRPM vs. PAPI - Performance Comparison
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Returns By Period
In the year-to-date period, XRPM achieves a -37.18% return, which is significantly lower than PAPI's 6.49% return.
XRPM
- 1D
- -2.28%
- 1M
- -16.11%
- YTD
- -37.18%
- 6M
- -43.26%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAPI
- 1D
- 0.64%
- 1M
- 0.17%
- YTD
- 6.49%
- 6M
- 6.38%
- 1Y
- 13.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XRPM vs. PAPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XRPM Amplify XRP 3% Monthly Option Income ETF | -37.18% | -13.48% |
PAPI Parametric Equity Premium Income ETF | 6.49% | 2.27% |
Correlation
The correlation between XRPM and PAPI is -0.04, 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 Nov 19, 2025 | -0.04 |
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Return for Risk
XRPM vs. PAPI — Risk / Return Rank
XRPM
PAPI
XRPM vs. PAPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amplify XRP 3% Monthly Option Income ETF (XRPM) 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
| XRPM | PAPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.31 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.04 | 0.90 | -1.94 |
Drawdowns
XRPM vs. PAPI - Drawdown Comparison
The maximum XRPM drawdown since its inception was -46.50%, which is greater than PAPI's maximum drawdown of -14.27%. Use the drawdown chart below to compare losses from any high point for XRPM and PAPI.
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Drawdown Indicators
| XRPM | PAPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.50% | -14.27% | -32.23% |
Max Drawdown (1Y)Largest decline over 1 year | — | -6.86% | — |
Current DrawdownCurrent decline from peak | -46.50% | -4.45% | -42.05% |
Average DrawdownAverage peak-to-trough decline | -26.98% | -2.73% | -24.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.55% | — |
Volatility
XRPM vs. PAPI - Volatility Comparison
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Volatility by Period
| XRPM | PAPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.20% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 7.02% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 65.44% | 10.47% | +54.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.44% | 11.76% | +53.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.44% | 11.76% | +53.68% |
XRPM vs. PAPI - Expense Ratio Comparison
XRPM has a 0.75% expense ratio, which is higher than PAPI's 0.29% expense ratio.
Dividends
XRPM vs. PAPI - Dividend Comparison
XRPM's dividend yield for the trailing twelve months is around 26.17%, more than PAPI's 7.57% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
PAPI Parametric Equity Premium Income ETF | 7.57% | 7.59% | 7.07% | 1.45% |
XRPM Amplify XRP 3% Monthly Option Income ETF | 26.17% | 3.12% | 0.00% | 0.00% |
Frequently Asked Questions
XRPM and PAPI have a correlation of -0.04, 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 0.75% for XRPM.
XRPM has the higher dividend yield at 26.17%, compared with 7.57% for PAPI.
They also come from different issuers: Amplify and Morgan Stanley. Their fees differ too: 0.75% for XRPM and 0.29% for PAPI.
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