Which paid more, FTQI or PAPI?

Over the year to Nov 4, 2026, FTQI paid 12.1% of its starting price in cash and PAPI paid 8.2%, so FTQI paid more. Cash paid is not the same as money made: the price change matters too.

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

With every distribution reinvested, FTQI returned +16.5% and PAPI +23.4% over the year to Nov 4, 2026.

Which is cheaper, FTQI or PAPI?

FTQI 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

FTQI vs PAPI: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, FTQI paid 12.1% of its price in cash against PAPI’s 8.2%, though PAPI returned more with it reinvested.

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Net assets: $997m on Nov 3, 2026 for First Trust Nasdaq BuyWrite Income ETF, and $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF.

FTQI on its own →PAPI on its own →

At a glance

12.1%

FTQI cash paid, 1 year

8.2%

PAPI cash paid, 1 year

+16.5%

FTQI total return, 1 year

+23.4%

PAPI total return, 1 year

FTQI · 1 year to Nov 4, 2026 4.2 pts ahead of QQQ

FTQI

+16.5%

QQQ

+12.3%

4.2 pts ahead of QQQ

FTQI over 1 year: paid 12.1%, price +3.5%, total +16.5%, QQQ +12.3%, +4.2 pts. Data to Nov 4, 2026.

QQQ

+12.3%

FTQI

+16.5%

12.1% of it arrived as cash

4.2 pts ahead of QQQ

Total return, distributions reinvested

4.2 pts ahead of QQQ

FTQI over 1 year: paid 12.1%, price +3.5%, total +16.5%, QQQ +12.3%, +4.2 pts. Data to Nov 4, 2026.

QQQ

+12.3%

FTQI

+16.5%

4.2 pts ahead of QQQ

12.1% of it arrived as cash. Total return, distributions reinvested. FTQI over 1 year: paid 12.1%, price +3.5%, total +16.5%, QQQ +12.3%, +4.2 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 0.46 points a year less; their one-year returns differ by 6.9 points.

Points (pts) are percentage points.

FTQI vs PAPI: Dividend Yield & Total Return
Measure	FTQI	PAPI
Paid and earned
Measure	FTQI	PAPI
Total return, 1 year	+16.5%	+23.4%
Price change, 1 year	rose 3.5%	rose 14.3%
Against its benchmark
Measure	FTQI	PAPI
Benchmark	Nasdaq-100, measured through QQQ	iShares Russell 1000 Value ETF, measured through IWD
Cost and size
Measure	FTQI	PAPI
Expense ratio	0.75%	0.29%
Net assets, FTQI as of Nov 3, 2026 and PAPI as of Jun 30, 2026	$997m	$400m
Holdings
Measure	FTQI	PAPI
Holdings in common	8%

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

IQ Income Score74FTQI96.1PAPI

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

FTQI 74

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, FTQI and PAPI hold 8% 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

8% in common

Positions both hold · largest shared weight first FTQI PAPI

Cisco Systems, Inc. 3.10% 0.76%

AbbVie Inc. 1.48% 0.64%

Alphabet Inc. (Class A) 1.72% 0.59%

Texas Roadhouse, Inc. 0.66% 0.51%

Alliant Energy Corporation 0.50% 0.55%

Royalty Pharma Plc (Class A) 0.49% 0.72%

Costco Wholesale Corporation 1.54% 0.48%

Gilead Sciences, Inc. 1.41% 0.48%

CME Group Inc. 1.10% 0.39%

Microsoft Corporation 1.55% 0.39%

Evergy, Inc. 0.31% 0.56%

Air Products and Chemicals, Inc. 0.24% 0.51%

Only in one fund ↓

Only in FTQI

Apple Inc. 8.98%

NVIDIA Corporation 6.22%

Advanced Micro Devices, Inc. 4.73%

Amazon.com, Inc. 4.23%

Tesla, Inc. 3.05%

Meta Platforms, Inc. (Class A) 2.67%

Palantir Technologies Inc. (Class A) 2.60%

Micron Technology, Inc. 2.01%

Only in PAPI

Corning, Inc. 1.00%

TD SYNNEX Corp. 0.80%

Power Integrations, Inc. 0.73%

Millicom International Cellular SA 0.72%

Texas Instruments, Inc. 0.70%

Cummins, Inc. 0.70%

Reynolds Consumer Products, Inc. 0.68%

Target Corp. 0.67%

Check overlap with more funds →

Side by side

FTQI First Trust Nasdaq BuyWrite Income ETF · Covered call on QQQ, 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 Nasdaq-100 (QQQ) iShares Russell 1000 Value ETF (IWD)

Pays monthly monthly

Payout rate, annualized 12.3% 6.8%

Expense ratio 0.75% 0.29%

Cash paid, 1 year 12.1% 8.2%

Price change, 1 year +3.5% +14.3%

Total return, 1 year +16.5% +23.4%

Benchmark return, 1 year +12.3% +32.8%

Ahead or behind +4.2 pts −9.4 pts

Return of capital, latest estimate 99% not published

Age 12.8 years 3.0 years

Net assets, FTQI as of Nov 3, 2026 and PAPI as of Jun 30, 2026 $997m $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: FTQI vs PAPI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	FTQI	PAPI	FTQI	PAPI	FTQI	PAPI
3 months	+0.4%	+6.6%	3.0%	1.8%	+3.8 pts	+2.6 pts
6 months	+6.6%	+13.2%	6.0%	3.9%	+6.9 pts	−0.7 pts
1 year	+16.5%	+23.4%	12.1%	8.2%	+4.3 pts	−9.4 pts
3 years	+60.8%	+44.5%	38.1%	23.7%	−30.5 pts	−39.8 pts
Since launchNot the same days: FTQI Jan 2014 · PAPI Oct 2023	+138.8%	+45.5%	81.1%	23.9%	−641.3 pts	−42.4 pts

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Alert

About each fund

FTQI

Over the year to Nov 4, 2026, FTQI paid 12.1% of its starting value in cash distributions while its price rose 3.5%. With every distribution reinvested, the fund returned +16.5%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was ahead by 4.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 12.3%, paid monthly. First Trust estimates that 99% 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, FTQI or PAPI?: Over the year to Nov 4, 2026, FTQI paid 12.1% of its starting price in cash and PAPI paid 8.2%, so FTQI paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, FTQI or PAPI?: With every distribution reinvested, FTQI returned +16.5% and PAPI +23.4% over the year to Nov 4, 2026.
Which is cheaper, FTQI or PAPI?: FTQI charges 0.75% a year and PAPI charges 0.29%, so PAPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

FTQI vs VOOY FTQI vs YLDE FTQI vs SDVD FTQI vs MAGY PAPI vs JEPQ PAPI vs QDTE PAPI vs ROCQ PAPI vs XQQI

Where to next

Nasdaq-100 (QQQ) →iShares Russell 1000 Value ETF (IWD) →FTQI on its own →PAPI on its own →FTQI dividend history →FTQI holdings →PAPI dividend history →PAPI holdings →Method →Standards and sources →

Sources and dates

FTQI filings on SEC EDGAR ↗

FTQI prospectus with the expense ratio (SEC) ↗

FTQI 19a-1 distribution notice ↗

First Trust page for FTQI ↗

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

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