Which paid more, DIVO or PAPI?

Over the year to Nov 4, 2026, DIVO paid 6.8% of its starting price in cash and PAPI paid 8.2%, so PAPI paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, DIVO or PAPI?

With every distribution reinvested, DIVO returned +15.2% and PAPI +23.4% over the year to Nov 4, 2026.

Which is cheaper, DIVO or PAPI?

DIVO charges 0.56% 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

DIVO vs PAPI: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, PAPI paid 8.2% of its price in cash against DIVO’s 6.8%, and returned more with it reinvested.

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Net assets: $8.0bn on Nov 3, 2026 for Amplify CWP Enhanced Dividend Income ETF, and $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF.

DIVO on its own →PAPI on its own →

At a glance

6.8%

DIVO cash paid, 1 year

8.2%

PAPI cash paid, 1 year

+15.2%

DIVO total return, 1 year

+23.4%

PAPI total return, 1 year

DIVO · 1 year to Nov 4, 2026 About even with SPY

DIVO

+15.2%

SPY

+14.8%

About even with SPY

DIVO over 1 year: paid 6.8%, price +7.9%, total +15.2%, SPY +14.8%, +0.4 pts. Data to Nov 4, 2026.

SPY

+14.8%

DIVO

+15.2%

6.8% as cash

about even with SPY

Total return, distributions reinvested

About even with SPY

DIVO over 1 year: paid 6.8%, price +7.9%, total +15.2%, SPY +14.8%, +0.4 pts. Data to Nov 4, 2026.

SPY

+14.8%

DIVO

+15.2%

about even with SPY

6.8% of it arrived as cash. Total return, distributions reinvested. DIVO over 1 year: paid 6.8%, price +7.9%, total +15.2%, SPY +14.8%, +0.4 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 0.27 points a year less; their one-year returns differ by 8.2 points.

Points (pts) are percentage points.

DIVO vs PAPI: Dividend Yield & Total Return
Measure	DIVO	PAPI
Paid and earned
Measure	DIVO	PAPI
Total return, 1 year	+15.2%	+23.4%
Price change, 1 year	rose 7.9%	rose 14.3%
Against its benchmark
Measure	DIVO	PAPI
Benchmark	S&P 500, measured through SPY	iShares Russell 1000 Value ETF, measured through IWD
Cost and size
Measure	DIVO	PAPI
Expense ratio	0.56%	0.29%
Net assets, DIVO as of Nov 3, 2026 and PAPI as of Jun 30, 2026	$8.0bn	$400m
Holdings
Measure	DIVO	PAPI
Holdings in common	6%

ETFIQ Distribution Coverage Score · PAPI scores higher How much of what it paid out did its total return cover?

IQ Income Score89.5DIVO96.1PAPI

How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed

DIVO 89.5

PAPI 96.1

0.3, the lowest in this set 99.7, the highest

One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →

Method

What they share

By the books each fund has filed, DIVO and PAPI hold 6% 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

6% in common

Positions both hold · largest shared weight first DIVO PAPI

AbbVie Inc 1.23% 0.64%

Alphabet Inc 2.64% 0.59%

Merck & Co Inc 3.54% 0.59%

Archer-Daniels-Midland Co 1.70% 0.57%

Coca-Cola Co 2.09% 0.56%

RTX Corp 3.23% 0.51%

Duke Energy Corp 2.20% 0.51%

Verizon Communications Inc 1.09% 0.47%

Chevron Corp 3.73% 0.45%

CME Group Inc 3.46% 0.39%

Microsoft Corp 6.15% 0.39%

Only in one fund ↓

Only in DIVO

Amgen Inc 5.81%

Visa Inc 5.64%

Invesco Government & Agency Portfolio 12/31/2031 5.35%

JPMORGAN CHASE & CO. 5.08%

Apple Inc 5.07%

Goldman Sachs Group Inc 4.99%

American Express Co 4.23%

Caterpillar Inc 4.22%

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%

Texas Instruments, Inc. 0.70%

Check overlap with more funds →

Side by side

DIVO Amplify CWP Enhanced Dividend Income ETF · Dividend stocks with call overlay on SPY, paying monthly PAPI Parametric Equity Premium Income ETF · Writes options on the S&P 500, measured against the Russell 1000 Value Index, paying monthly

Issuer Amplify Parametric

Strategy dividend stocks with call overlay covered call

Benchmark S&P 500 (SPY) iShares Russell 1000 Value ETF (IWD)

Pays monthly monthly

Payout rate, annualized 4.8% 6.8%

Expense ratio 0.56% 0.29%

Cash paid, 1 year 6.8% 8.2%

Price change, 1 year +7.9% +14.3%

Total return, 1 year +15.2% +23.4%

Benchmark return, 1 year +14.8% +32.8%

Ahead or behind +0.4 pts −9.4 pts

Return of capital, latest estimate 88% not published

Age 9.9 years 3.0 years

Net assets, DIVO as of Nov 3, 2026 and PAPI as of Jun 30, 2026 $8.0bn $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: DIVO vs PAPI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	DIVO	PAPI	DIVO	PAPI	DIVO	PAPI
3 months	+1.5%	+6.6%	1.2%	1.8%	+1.6 pts	+2.6 pts
6 months	+7.7%	+13.2%	2.5%	3.9%	+2.7 pts	−0.7 pts
1 year	+15.2%	+23.4%	6.8%	8.2%	+0.4 pts	−9.4 pts
3 years	+61.8%	+44.5%	19.8%	23.7%	−21.1 pts	−39.8 pts
Since launchNot the same days: DIVO Dec 2016 · PAPI Oct 2023	+226.1%	+45.5%	73.9%	23.9%	−71.7 pts	−42.4 pts

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Alert

About each fund

DIVO

Over the year to Nov 4, 2026, DIVO paid 6.8% of its starting value in cash distributions while its price rose 7.9%. With every distribution reinvested, the fund returned +15.2%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was about even. At its price on Nov 4, 2026 the latest distribution annualizes to 4.8%, paid monthly. Amplify estimates that 88% of the distribution paid Oct 30, 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 paid more, DIVO or PAPI?: Over the year to Nov 4, 2026, DIVO paid 6.8% of its starting price in cash and PAPI paid 8.2%, so PAPI paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, DIVO or PAPI?: With every distribution reinvested, DIVO returned +15.2% and PAPI +23.4% over the year to Nov 4, 2026.
Which is cheaper, DIVO or PAPI?: DIVO charges 0.56% a year and PAPI charges 0.29%, so PAPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

DIVO vs QQDH DIVO vs RECI DIVO vs TMGN DIVO vs VOOY PAPI vs IVVW PAPI vs EGGY PAPI vs SEPI PAPI vs XSPI

Where to next

S&P 500 (SPY) →iShares Russell 1000 Value ETF (IWD) →DIVO on its own →PAPI on its own →DIVO dividend history →DIVO holdings →PAPI dividend history →PAPI holdings →Method →Standards and sources →

Sources and dates

DIVO filings on SEC EDGAR ↗

DIVO prospectus with the expense ratio (SEC) ↗

DIVO 19a-1 distribution notice ↗

Amplify page for DIVO ↗

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

It is a place in a set, not a rating or a recommendation.

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

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