Data as of .
DDDD vs PAPI: which paid, and which earned it?
DDDD and PAPI both write options for income.
What they hold in common
By the books each fund has filed, DDDD and PAPI hold 18% of their money in the same securities at the same weight.
| Holding | DDDD | PAPI |
|---|---|---|
| Texas Instruments Inc | 3.32% | 0.71% |
| Target Corp | 1.81% | 0.67% |
| Automatic Data Processing Inc | 2.78% | 0.60% |
| Merck & Co Inc | 4.93% | 0.59% |
| Principal Financial Group Inc | 0.58% | 0.60% |
| QUALCOMM Inc | 2.73% | 0.58% |
| Cincinnati Financial Corp | 0.67% | 0.58% |
| Archer-Daniels-Midland Co | 1.04% | 0.58% |
| Kimberly-Clark Corp | 0.82% | 0.57% |
| Coca-Cola Co/The | 4.30% | 0.56% |
| T Rowe Price Group Inc | 0.56% | 0.58% |
| Regions Financial Corp | 0.61% | 0.56% |
| Only in DDDD | Only in PAPI |
|---|---|
| Amgen Inc 4.38% | Corning, Inc. 1.01% |
| UnitedHealth Group Inc 3.84% | TD SYNNEX Corp. 0.81% |
| Lockheed Martin Corp 2.74% | Cisco Systems, Inc. 0.77% |
| Blackstone Inc 2.35% | Power Integrations, Inc. 0.73% |
| SLB Ltd 1.94% | Royalty Pharma plc 0.73% |
| First American Government Obligations Fund 12/01/2031 1.65% | Millicom International Cellular SA 0.72% |
| Ford Motor Co 1.31% | Avnet, Inc. 0.71% |
| Fifth Third Bancorp 1.21% | Cummins, Inc. 0.70% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and Sep 21, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| DDDD | PAPI | DDDD | PAPI | DDDD | PAPI | |
| 3 months | +4.9% | +4.7% | 1.6% | 2.0% | +2.6 pts | +2.5 pts |
| 6 months | +10.5% | +5.6% | 1.7% | 4.0% | −7.6 pts | −12.4 pts |
| 1 year | not published | +12.8% | not published | 7.9% | not published | −3.8 pts |
| Since launch | +8.7% | +35.6% | 1.6% | 22.5% | −6.5 pts | −49.6 pts |
| DDDD YieldMax(R) U.S. Stocks Target Double Distribution ETF Synthetic covered call on SPY | PAPI Parametric Equity Premium Income ETF Covered call on SPY, paying monthly | |
|---|---|---|
| Issuer | YieldMax | Parametric |
| Strategy | synthetic covered call | covered call |
| Benchmark | S&P 500 (SPY) | S&P 500 (SPY) |
| Pays | not established | monthly |
| Payout rate, annualized | 18.4% | 7.2% |
| Expense ratio | 1.01% | 0.29% |
| Cash paid, 1 year | 1.6% (since launch on Mar 12, 2026) | 7.9% |
| Price change, 1 year | +7.0% | +4.5% |
| Total return, 1 year | +8.7% (since launch on Mar 12, 2026) | +12.8% |
| Benchmark return, 1 year | +15.3% | +16.6% |
| Ahead or behind | −6.5 pts | −3.8 pts |
| Return of capital, latest estimate | 67% | not published |
| Age | 190 days | 1065 days |
| Net assets | $7m | $400m |
DDDD in plain words
Over the period since launch on Mar 12, 2026 to Sep 18, 2026, DDDD paid 1.6% of its starting value in cash distributions while its price rose 7.0%. With every distribution reinvested, the fund returned +8.7%. S&P 500 (SPY) returned +15.3% over the same days, so a holder was behind by 6.5 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 18.4%, paid periodically. YieldMax estimates that 67% of the distribution paid Jul 6, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
PAPI in plain words
Over the year to Sep 18, 2026, PAPI paid 7.9% of its starting value in cash distributions while its price rose 4.5%. With every distribution reinvested, the fund returned +12.8%. S&P 500 (SPY) returned +16.6% over the same days, so a holder was behind by 3.8 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 7.2%, paid monthly.
Questions people ask
- Which is cheaper, DDDD or PAPI?
- DDDD charges 1.01% a year and PAPI charges 0.29%, so PAPI is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, DDDD against PAPI, data as of Sep 18, 2026. https://etfiq.com/compare/income/dddd-vs-papi Free to use with attribution; the underlying files are at Open data.