Which is cheaper, JUDO or PAPI?

JUDO charges 0.55% 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

JUDO vs PAPI: Dividend Yield & Total Return

JUDO and PAPI both write options for income.

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Net assets: $7.0m on Jul 31, 2026 for Janus Henderson U.S. Equity Enhanced Income ETF, and $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF.

JUDO on its own →PAPI on its own →

At a glance

3.8%

JUDO cash paid, since launch, Mar 25, 2026

8.2%

PAPI cash paid, 1 year

+16.1%

JUDO total return, since launch, Mar 25, 2026

+23.4%

PAPI total return, 1 year

JUDO · since launch to Nov 4, 2026 Not measured

JUDO

+16.1%

none

Not measured

JUDO since launch: paid 3.8%, price +12.2%, total +16.1%, not measured against a benchmark. Data to Nov 4, 2026.

JUDO

+16.1%

Total return, distributions reinvested

Not measured

JUDO since launch: paid 3.8%, price +12.2%, total +16.1%, not measured against a benchmark. Data to Nov 4, 2026.

JUDO

+16.1%

3.8% of it arrived as cash. Total return, distributions reinvested. JUDO since launch: paid 3.8%, price +12.2%, total +16.1%, 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 0.26 points a year less.

Points (pts) are percentage points.

JUDO vs PAPI: Dividend Yield & Total Return
Measure	JUDO	PAPI
Paid and earned
Measure	JUDO	PAPI
Total return, 1 year	not published	+23.4%
Price change	rose 2.7% (6 months)	rose 14.3% (1 year)
Against its benchmark
Measure	JUDO	PAPI
Benchmark	its own stocks	iShares Russell 1000 Value ETF, measured through IWD
Against its benchmark, same days	ahead by 0.6 pts	behind by 9.4 pts
Cost and size
Measure	JUDO	PAPI
Expense ratio	0.55%	0.29%
Net assets, JUDO as of Jul 31, 2026 and PAPI as of Jun 30, 2026	$7.0m	$400m
Holdings
Measure	JUDO	PAPI
Holdings in common	13%

Method

What they share

13%

By the books each fund has filed, JUDO and PAPI hold 13% 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

13% in common

Positions both hold · largest shared weight first JUDO PAPI

Cisco Systems, Inc. 1.39% 0.76%

Texas Instruments, Inc. 0.85% 0.70%

Cummins, Inc. 1.03% 0.70%

Target Corp. 1.51% 0.67%

AbbVie, Inc. 1.29% 0.64%

Alphabet, Inc. 6.79% 0.59%

Coca-Cola Co. (The) 1.35% 0.56%

Danaher Corp. 0.90% 0.56%

Johnson & Johnson 1.41% 0.56%

Home Depot, Inc. (The) 1.49% 0.54%

Southern Co. (The) 0.61% 0.54%

Garmin Ltd. 0.86% 0.52%

Only in one fund ↓

Only in JUDO

NVIDIA Corp. 7.84%

Amazon.com, Inc. 5.17%

Apple, Inc. 4.38%

Broadcom, Inc. 3.56%

JPMorgan Chase & Co. 2.31%

Eli Lilly & Co. 2.07%

Micron Technology, Inc. 1.99%

Mastercard, Inc. 1.72%

Only in PAPI

Corning, Inc. 1.00%

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%

MSC Industrial Direct Co., Inc. 0.66%

Check overlap with more funds →

Side by side

JUDO Janus Henderson U.S. Equity Enhanced 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 Janus Henderson Parametric

Strategy covered call covered call

Benchmark JUDO'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 6.4% 6.8%

Expense ratio 0.55% 0.29%

Cash paid, 1 year 3.8% (since launch, Mar 25, 2026) 8.2%

Price change, 1 year +12.2% (since launch, Mar 25, 2026) +14.3%

Total return, 1 year +16.1% (since launch, Mar 25, 2026) +23.4%

Benchmark return, 1 year not published +32.8%

Ahead or behind not available −9.4 pts

Return of capital, latest estimate not published not published

Age 224 days 3.0 years

Net assets, JUDO as of Jul 31, 2026 and PAPI as of Jun 30, 2026 $7.0m $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: JUDO vs PAPI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	JUDO	PAPI	JUDO	PAPI	JUDO	PAPI
3 months	−1.2%	+6.6%	1.6%	1.8%	+0.5 pts	+2.6 pts
6 months	+5.8%	+13.2%	3.1%	3.9%	+0.6 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: JUDO Mar 2026 · PAPI Oct 2023	+16.1%	+45.5%	3.8%	23.9%	not measured	−42.4 pts

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Alert

About each fund

JUDO

JUDO's own stocks, without the options (from its filed holdings, rebalanced at each filing; latest Jul 31, 2026) returned +5.2% over the same days, so a holder was ahead by 0.6 pts.

Over the 6 months to Nov 4, 2026, JUDO paid 3.1% of its starting value in cash distributions while its price rose 2.7%. With every distribution reinvested, the fund returned +5.8%. At its price on Nov 4, 2026 the latest distribution annualizes to 6.4%, paid monthly.

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, JUDO or PAPI?: JUDO charges 0.55% a year and PAPI charges 0.29%, so PAPI is cheaper. Fees come from each fund's prospectus.

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Where to next

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

Sources and dates

JUDO filings on SEC EDGAR ↗

JUDO prospectus with the expense ratio (SEC) ↗

Janus Henderson 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, JUDO against PAPI, data as of Nov 4, 2026. https://etfiq.com/compare/income/judo-vs-papi

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