Which paid more, FTHI or PAPI?

Over the year to Nov 4, 2026, FTHI paid 8.9% of its starting price in cash and PAPI paid 8.2%, so FTHI paid more. Cash paid is not the same as money made: the price change matters too.

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

With every distribution reinvested, FTHI returned +8.1% and PAPI +23.4% over the year to Nov 4, 2026.

Which is cheaper, FTHI or PAPI?

FTHI charges 0.75% 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

FTHI vs PAPI: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, FTHI paid 8.9% of its price in cash against PAPI’s 8.2%, though PAPI returned more with it reinvested.

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Net assets: $2.5bn on Nov 3, 2026 for First Trust BuyWrite Income ETF, and $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF.

FTHI on its own →PAPI on its own →

At a glance

8.9%

FTHI cash paid, 1 year

8.2%

PAPI cash paid, 1 year

+8.1%

FTHI total return, 1 year

+23.4%

PAPI total return, 1 year

FTHI · 1 year to Nov 4, 2026 6.7 pts behind SPY

FTHI

+8.1%

SPY

+14.8%

6.7 pts behind SPY

FTHI over 1 year: paid 8.9%, price −1.2%, total +8.1%, SPY +14.8%, −6.7 pts. Data to Nov 4, 2026.

SPY

+14.8%

FTHI

+8.1%

8.9% as cash

6.7 pts behind SPY

Total return, distributions reinvested

6.7 pts behind SPY

FTHI over 1 year: paid 8.9%, price −1.2%, total +8.1%, SPY +14.8%, −6.7 pts. Data to Nov 4, 2026.

SPY

+14.8%

FTHI

+8.1%

6.7 pts behind SPY

8.9% of it arrived as cash. Total return, distributions reinvested. FTHI over 1 year: paid 8.9%, price −1.2%, total +8.1%, SPY +14.8%, −6.7 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, with zero at the line. PAPI over 1 year: paid 8.2%, price +14.3%, total +23.4%, IWD +32.8%, −9.4 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

PAPI costs 0.46 points a year less; their one-year returns differ by 15.3 points.

Points (pts) are percentage points.

FTHI vs PAPI: Dividend Yield & Total Return
Measure	FTHI	PAPI
Paid and earned
Measure	FTHI	PAPI
Total return, 1 year	+8.1%	+23.4%
Price change, 1 year	fell 1.2%	rose 14.3%
Against its benchmark
Measure	FTHI	PAPI
Benchmark	S&P 500, measured through SPY	iShares Russell 1000 Value ETF, measured through IWD
Cost and size
Measure	FTHI	PAPI
Expense ratio	0.75%	0.29%
Net assets, FTHI as of Nov 3, 2026 and PAPI as of Jun 30, 2026	$2.5bn	$400m
Holdings
Measure	FTHI	PAPI
Holdings in common	13%

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

IQ Income Score52.4FTHI96.1PAPI

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

FTHI 52.4

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

13%

By the books each fund has filed, FTHI and PAPI hold 13% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.

50%

0 half 100%

half

13% in common

Positions both hold · largest shared weight first FTHI PAPI

Cisco Systems, Inc. 1.22% 0.76%

Royalty Pharma Plc (Class A) 0.64% 0.72%

AbbVie Inc. 1.16% 0.64%

HF Sinclair Corp. 0.62% 0.60%

Alphabet Inc. (Class A) 1.99% 0.59%

The Coca-Cola Company 0.60% 0.56%

Johnson & Johnson 1.13% 0.56%

Altria Group, Inc. 0.87% 0.55%

Linde Plc 1.27% 0.54%

IDACORP, Inc. 0.57% 0.54%

United Parcel Service, Inc. (Class B) 0.59% 0.51%

The Cigna Group 0.49% 0.50%

Only in one fund ↓

Only in FTHI

Apple Inc. 7.86%

NVIDIA Corporation 6.59%

JPMorgan Chase & Co. 2.65%

Amazon.com, Inc. 2.57%

ASML Holding N.V. (New York Registry Shares) 2.06%

Bank of America Corporation 1.97%

Broadcom Inc. 1.92%

Dell Technologies Inc. (Class C) 1.86%

Only in PAPI

Corning, Inc. 1.00%

TD SYNNEX Corp. 0.80%

Power Integrations, Inc. 0.73%

Millicom International Cellular SA 0.72%

Avnet, Inc. 0.70%

Texas Instruments, Inc. 0.70%

Cummins, Inc. 0.70%

Reynolds Consumer Products, Inc. 0.68%

Check overlap with more funds →

Side by side

FTHI First Trust BuyWrite Income ETF · Covered call 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 First Trust Parametric

Strategy covered call covered call

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

Pays monthly monthly

Payout rate, annualized 9.0% 6.8%

Expense ratio 0.75% 0.29%

Cash paid, 1 year 8.9% 8.2%

Price change, 1 year −1.2% +14.3%

Total return, 1 year +8.1% +23.4%

Benchmark return, 1 year +14.8% +32.8%

Ahead or behind −6.7 pts −9.4 pts

Return of capital, latest estimate 92% not published

Age 12.8 years 3.0 years

Net assets, FTHI as of Nov 3, 2026 and PAPI as of Jun 30, 2026 $2.5bn $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: FTHI vs PAPI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	FTHI	PAPI	FTHI	PAPI	FTHI	PAPI
3 months	−0.5%	+6.6%	2.2%	1.8%	−0.3 pts	+2.6 pts
6 months	+2.5%	+13.2%	4.4%	3.9%	−2.5 pts	−0.7 pts
1 year	+8.1%	+23.4%	8.9%	8.2%	−6.7 pts	−9.4 pts
3 years	+48.1%	+44.5%	29.7%	23.7%	−34.8 pts	−39.8 pts
Since launchNot the same days: FTHI Jan 2014 · PAPI Oct 2023	+155.0%	+45.5%	84.3%	23.9%	−262.6 pts	−42.4 pts

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Alert

About each fund

FTHI

Over the year to Nov 4, 2026, FTHI paid 8.9% of its starting value in cash distributions while its price fell 1.2%. With every distribution reinvested, the fund returned +8.1%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 6.7 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 9.0%, paid monthly. First Trust estimates that 92% 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, FTHI or PAPI?: Over the year to Nov 4, 2026, FTHI paid 8.9% of its starting price in cash and PAPI paid 8.2%, so FTHI paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, FTHI or PAPI?: With every distribution reinvested, FTHI returned +8.1% and PAPI +23.4% over the year to Nov 4, 2026.
Which is cheaper, FTHI or PAPI?: FTHI charges 0.75% a year and PAPI charges 0.29%, so PAPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

FTHI vs YLDE FTHI vs SDVD FTHI vs MAGY FTHI vs VAIE PAPI vs XYLD PAPI vs JEPI PAPI vs NLSI PAPI vs TPRY

Where to next

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

Sources and dates

FTHI filings on SEC EDGAR ↗

FTHI prospectus with the expense ratio (SEC) ↗

FTHI 19a-1 distribution notice ↗

First Trust page for FTHI ↗

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

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