Which is cheaper, HEMI or PAPI?

HEMI charges 0.49% 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

HEMI vs PAPI: Dividend Yield & Total Return

HEMI and PAPI both write options for income.

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Net assets: $35m on Jul 31, 2026 for Hartford Equity Premium Income ETF, and $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF.

HEMI on its own →PAPI on its own →

At a glance

7.6%

HEMI cash paid, since launch, Dec 17, 2025

8.2%

PAPI cash paid, 1 year

+12.6%

HEMI total return, since launch, Dec 17, 2025

+23.4%

PAPI total return, 1 year

HEMI · since launch to Nov 4, 2026 Not measured

HEMI

+12.6%

none

Not measured

HEMI since launch: paid 7.6%, price +4.6%, total +12.6%, not measured against a benchmark. Data to Nov 4, 2026.

HEMI

+12.6%

7.6% as cash

Total return, distributions reinvested

Not measured

HEMI since launch: paid 7.6%, price +4.6%, total +12.6%, not measured against a benchmark. Data to Nov 4, 2026.

HEMI

+12.6%

7.6% of it arrived as cash. Total return, distributions reinvested. HEMI since launch: paid 7.6%, price +4.6%, total +12.6%, not measured against a benchmark. 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 0.20 points a year less.

Points (pts) are percentage points.

HEMI vs PAPI: Dividend Yield & Total Return
Measure	HEMI	PAPI
Paid and earned
Measure	HEMI	PAPI
Total return, 1 year	not published	+23.4%
Price change	fell 0.4% (6 months)	rose 14.3% (1 year)
Return of capital, issuer estimate	99% of the Oct 29, 2026 payment
Against its benchmark
Measure	HEMI	PAPI
Benchmark	its own stocks	iShares Russell 1000 Value ETF, measured through IWD
Cost and size
Measure	HEMI	PAPI
Expense ratio	0.49%	0.29%
Net assets, HEMI as of Jul 31, 2026 and PAPI as of Jun 30, 2026	$35m	$400m
Holdings
Measure	HEMI	PAPI
Holdings in common	9%

Method

What they share

By the books each fund has filed, HEMI and PAPI hold 9% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.

50%

0 half 100%

half

9% in common

Positions both hold · largest shared weight first HEMI PAPI

Corning Inc 0.84% 1.00%

Texas Instruments Inc 1.31% 0.70%

Cummins Inc 0.81% 0.70%

Alphabet Inc 6.62% 0.59%

Merck & Co Inc 1.32% 0.59%

Cisco Systems Inc 0.54% 0.76%

Linde PLC 0.79% 0.54%

WEC Energy Group Inc 0.75% 0.52%

RTX Corp 1.44% 0.51%

Williams Cos Inc 0.50% 0.53%

EOG Resources Inc 0.58% 0.49%

Gilead Sciences Inc 0.78% 0.48%

Only in one fund ↓

Only in HEMI

NVIDIA Corp 8.49%

Apple Inc 6.41%

Amazon.com Inc 5.06%

Broadcom Inc 3.60%

JPMorgan Chase & Co 2.34%

Meta Platforms Inc 2.33%

Eli Lilly & Co 2.32%

Advanced Micro Devices Inc 2.26%

Only in PAPI

TD SYNNEX Corp. 0.80%

Power Integrations, Inc. 0.73%

Royalty Pharma plc 0.72%

Millicom International Cellular SA 0.72%

Avnet, Inc. 0.70%

Reynolds Consumer Products, Inc. 0.68%

Target Corp. 0.67%

MSC Industrial Direct Co., Inc. 0.66%

Check overlap with more funds →

Side by side

HEMI Hartford Equity Premium Income ETF · Covered call on its own stocks, 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 Hartford Parametric

Strategy covered call covered call

Benchmark HEMI's own stocks, without the options (from its filed holdings, rebalanced at each filing; latest Jul 31, 2026) iShares Russell 1000 Value ETF (IWD)

Pays monthly monthly

Payout rate, annualized 8.6% 6.8%

Expense ratio 0.49% 0.29%

Cash paid, 1 year 7.6% (since launch, Dec 17, 2025) 8.2%

Price change, 1 year +4.6% (since launch, Dec 17, 2025) +14.3%

Total return, 1 year +12.6% (since launch, Dec 17, 2025) +23.4%

Benchmark return, 1 year not published +32.8%

Ahead or behind not available −9.4 pts

Return of capital, latest estimate 99% not published

Age 322 days 3.0 years

Net assets, HEMI as of Jul 31, 2026 and PAPI as of Jun 30, 2026 $35m $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: HEMI vs PAPI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	HEMI	PAPI	HEMI	PAPI	HEMI	PAPI
3 months	+0.3%	+6.6%	2.2%	1.8%	0.0 pts	+2.6 pts
6 months	+4.0%	+13.2%	4.4%	3.9%	−0.4 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: HEMI Dec 2025 · PAPI Oct 2023	+12.6%	+45.5%	7.6%	23.9%	not measured	−42.4 pts

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Alert

About each fund

HEMI

HEMI's own stocks, without the options (from its filed holdings, rebalanced at each filing; latest Jul 31, 2026) returned +4.4% over the same days, so a holder was about even.

Over the 6 months to Nov 4, 2026, HEMI paid 4.4% of its starting value in cash distributions while its price fell 0.4%. With every distribution reinvested, the fund returned +4.0%. At its price on Nov 4, 2026 the latest distribution annualizes to 8.6%, paid monthly. Hartford estimates that 99% of the distribution paid Oct 29, 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, HEMI or PAPI?: HEMI charges 0.49% a year and PAPI charges 0.29%, so PAPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

HEMI vs YLDE HEMI vs SDVD HEMI vs MAGY HEMI vs VAIE PAPI vs RNTY PAPI vs JUDO PAPI vs SCEP PAPI vs TCAL

Where to next

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

Sources and dates

HEMI filings on SEC EDGAR ↗

HEMI prospectus with the expense ratio (SEC) ↗

HEMI 19a-1 distribution notice ↗

Hartford website ↗

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

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