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.

Data as of Nov 4, 2026.

Income ETFs

DDDD vs PAPI: Dividend Yield & Total Return

DDDD and PAPI both write options for income.

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Net assets: $7.8m on Nov 3, 2026 for YieldMax U.S. Stocks Target Double Distribution ETF, and $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF.

DDDD on its own →PAPI on its own →

At a glance

3.4%

DDDD cash paid, since launch, Mar 12, 2026

8.2%

PAPI cash paid, 1 year

+17.1%

DDDD total return, since launch, Mar 12, 2026

+23.4%

PAPI total return, 1 year

DDDD · since launch to Nov 4, 2026 3.3 pts behind SCHD

DDDD

+17.1%

SCHD

+20.4%

3.3 pts behind SCHD

DDDD since launch: paid 3.4%, price +13.4%, total +17.1%, SCHD +20.4%, −3.3 pts. Data to Nov 4, 2026.

SCHD

+20.4%

DDDD

+17.1%

3.3 pts behind SCHD

Total return, distributions reinvested

3.3 pts behind SCHD

DDDD since launch: paid 3.4%, price +13.4%, total +17.1%, SCHD +20.4%, −3.3 pts. Data to Nov 4, 2026.

SCHD

+20.4%

DDDD

+17.1%

3.3 pts behind SCHD

3.4% of it arrived as cash. Total return, distributions reinvested. DDDD since launch: paid 3.4%, price +13.4%, total +17.1%, SCHD +20.4%, −3.3 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

PAPI · 1 year to Nov 4, 2026 9.4 pts behind IWD

PAPI

+23.4%

IWD

+32.8%

9.4 pts behind IWD

PAPI over 1 year: paid 8.2%, price +14.3%, total +23.4%, IWD +32.8%, −9.4 pts. Data to Nov 4, 2026.

IWD

+32.8%

PAPI

+23.4%

8.2% as cash

9.4 pts behind IWD

Total return, distributions reinvested

9.4 pts behind IWD

PAPI over 1 year: paid 8.2%, price +14.3%, total +23.4%, IWD +32.8%, −9.4 pts. Data to Nov 4, 2026.

IWD

+32.8%

PAPI

+23.4%

9.4 pts behind IWD

8.2% of it arrived as cash. Both charts share one scale, 0 to +32.8%. PAPI over 1 year: paid 8.2%, price +14.3%, total +23.4%, IWD +32.8%, −9.4 pts. Data to Nov 4, 2026.

Both charts share one scale, 0 to +32.8%. Data to Nov 4, 2026.

Pair scorecard

PAPI costs 0.72 points a year less.

Points (pts) are percentage points.

DDDD vs PAPI: Dividend Yield & Total Return
Measure	DDDD	PAPI
Paid and earned
Measure	DDDD	PAPI
Total return, 1 year	not published	+23.4%
Price change	rose 13.4% (since Mar 12, 2026)	rose 14.3% (1 year)
Return of capital, issuer estimate	76% of the Oct 2, 2026 payment
Against its benchmark
Measure	DDDD	PAPI
Benchmark	US dividend stocks, measured through SCHD	iShares Russell 1000 Value ETF, measured through IWD
Cost and size
Measure	DDDD	PAPI
Expense ratio	1.01%	0.29%
Net assets, DDDD as of Nov 3, 2026 and PAPI as of Jun 30, 2026	$7.8m	$400m
Holdings
Measure	DDDD	PAPI
Holdings in common	18%

Method

What they share

18%

By the books each fund has filed, DDDD and PAPI hold 18% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 4, 2026.

50%

0 half 100%

half

18% in common

Positions both hold · largest shared weight first DDDD PAPI

Texas Instruments Inc 4.70% 0.70%

Target Corp 1.76% 0.67%

Automatic Data Processing Inc 2.81% 0.59%

Merck & Co Inc 3.82% 0.59%

QUALCOMM Inc 3.92% 0.58%

Cincinnati Financial Corp 0.70% 0.57%

Archer-Daniels-Midland Co 0.81% 0.57%

T Rowe Price Group Inc 0.57% 0.58%

Kimberly-Clark Corp 0.85% 0.57%

Coca-Cola Co 4.18% 0.56%

Regions Financial Corp 0.59% 0.56%

Fastenal Co 1.45% 0.55%

Only in one fund ↓

Only in DDDD

Amgen Inc 4.16%

UnitedHealth Group Inc 3.91%

Lockheed Martin Corp 2.87%

Blackstone Inc 2.21%

SLB Ltd 1.83%

Fifth Third Bancorp 1.18%

Ford Motor Co 1.18%

Ares Management Corp 0.68%

Only in PAPI

Corning, Inc. 1.00%

TD SYNNEX Corp. 0.80%

Cisco Systems, Inc. 0.76%

Power Integrations, Inc. 0.73%

Royalty Pharma plc 0.72%

Millicom International Cellular SA 0.72%

Avnet, Inc. 0.70%

Cummins, Inc. 0.70%

Check overlap with more funds →

Side by side

DDDD YieldMax U.S. Stocks Target Double Distribution ETF · Synthetic covered call on SCHD PAPI Parametric Equity Premium Income ETF · Writes options on the S&P 500, measured against the Russell 1000 Value Index, paying monthly

Issuer YieldMax Parametric

Strategy synthetic covered call covered call

Benchmark US dividend stocks (SCHD) iShares Russell 1000 Value ETF (IWD)

Pays not established monthly

Payout rate, annualized 18.3% 6.8%

Expense ratio 1.01% 0.29%

Cash paid, 1 year 3.4% (since launch, Mar 12, 2026) 8.2%

Price change, 1 year +13.4% (since launch, Mar 12, 2026) +14.3%

Total return, 1 year +17.1% (since launch, Mar 12, 2026) +23.4%

Benchmark return, 1 year +20.4% (since launch, Mar 12, 2026) +32.8%

Ahead or behind −3.3 pts (since launch, Mar 12, 2026) −9.4 pts

Return of capital, latest estimate 76% not published

Age 237 days 3.0 years

Net assets, DDDD as of Nov 3, 2026 and PAPI as of Jun 30, 2026 $7.8m $400m

As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.

Window by window

Window by window: DDDD vs PAPI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	DDDD	PAPI	DDDD	PAPI	DDDD	PAPI
3 months	+7.5%	+6.6%	1.6%	1.8%	−1.0 pts	+2.6 pts
6 months	+13.6%	+13.2%	3.3%	3.9%	−2.6 pts	−0.7 pts
1 year	–	+23.4%	–	8.2%	–	−9.4 pts
3 years	–	+44.5%	–	23.7%	–	−39.8 pts
Since launchNot the same days: DDDD Mar 2026 · PAPI Oct 2023	+17.1%	+45.5%	3.4%	23.9%	−3.3 pts	−42.4 pts

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Alert

About each fund

DDDD

Over the period from its first trade on Mar 12, 2026 to Nov 4, 2026, DDDD paid 3.4% of its starting value in cash distributions while its price rose 13.4%. With every distribution reinvested, the fund returned +17.1%. US dividend stocks (SCHD) returned +20.4% over the same days, so a holder was behind by 3.3 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 18.3%, paid periodically. YieldMax estimates that 76% of the distribution paid Oct 2, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

PAPI

Over the year to Nov 4, 2026, PAPI paid 8.2% of its starting value in cash distributions while its price rose 14.3%. With every distribution reinvested, the fund returned +23.4%. iShares Russell 1000 Value ETF (IWD) returned +32.8% over the same days, so a holder was behind by 9.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 6.8%, 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

DDDD vs KNG DDDD vs QQDH DDDD vs RECI DDDD vs TMGN PAPI vs LJUL PAPI vs PCOV PAPI vs LAPR PAPI vs LOCT

Where to next

US dividend stocks (SCHD) →iShares Russell 1000 Value ETF (IWD) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →DDDD on its own →PAPI on its own →DDDD dividend history →DDDD holdings →PAPI dividend history →PAPI holdings →Method →Standards and sources →

Sources and dates

DDDD filings on SEC EDGAR ↗

DDDD prospectus with the expense ratio (SEC) ↗

DDDD 19a-1 distribution notice ↗

YieldMax page for DDDD ↗

PAPI filings on SEC EDGAR ↗

PAPI prospectus with the expense ratio (SEC) ↗

Parametric website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, DDDD against PAPI, data as of Nov 4, 2026. https://etfiq.com/compare/income/dddd-vs-papi

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.