Data as of .
OEI vs PAPI: which paid, and which earned it?
OEI and PAPI both write options for income.
What they hold in common
By the books each fund has filed, OEI and PAPI hold 13% of their money in the same securities at the same weight.
| Holding | OEI | PAPI |
|---|---|---|
| Cisco Systems Inc | 1.54% | 0.77% |
| Texas Instruments Inc | 0.65% | 0.71% |
| AbbVie Inc | 1.57% | 0.64% |
| Alphabet Inc | 3.48% | 0.59% |
| Merck & Co Inc | 1.12% | 0.59% |
| QUALCOMM Inc | 0.58% | 0.58% |
| Coca-Cola Co/The | 0.89% | 0.56% |
| Johnson & Johnson | 2.10% | 0.56% |
| Home Depot Inc/The | 1.17% | 0.55% |
| IBM | 0.52% | 0.65% |
| Abbott Laboratories | 0.66% | 0.52% |
| RTX Corp | 1.09% | 0.52% |
| Only in OEI | Only in PAPI |
|---|---|
| NVIDIA Corp 8.32% | Corning, Inc. 1.01% |
| Amazon.com Inc 4.56% | TD SYNNEX Corp. 0.81% |
| Apple Inc 4.28% | Power Integrations, Inc. 0.73% |
| Broadcom Inc 3.04% | Royalty Pharma plc 0.73% |
| Alphabet Inc 2.79% | Millicom International Cellular SA 0.72% |
| Micron Technology Inc 2.57% | Avnet, Inc. 0.71% |
| Meta Platforms Inc 2.18% | Cummins, Inc. 0.70% |
| ExxonMobil Holdings Corp 2.07% | Reynolds Consumer Products, Inc. 0.68% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jul 31, 2026 and Jun 30, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| OEI | PAPI | OEI | PAPI | OEI | PAPI | |
| 3 months | +4.8% | +4.7% | 2.3% | 2.0% | +2.5 pts | +2.5 pts |
| 6 months | +12.5% | +5.6% | 4.9% | 4.0% | −5.6 pts | −12.4 pts |
| 1 year | not published | +12.8% | not published | 7.9% | not published | −3.8 pts |
| Since launch | +14.4% | +35.6% | 8.6% | 22.5% | −0.9 pts | −49.6 pts |
| OEI Optimized Equity Income ETF Option income on SPY, paying monthly | PAPI Parametric Equity Premium Income ETF Covered call on SPY, paying monthly | |
|---|---|---|
| Issuer | Core Alternative | Parametric |
| Strategy | option income | covered call |
| Benchmark | S&P 500 (SPY), used as a default proxy | S&P 500 (SPY) |
| Pays | monthly | monthly |
| Payout rate, annualized | 9.2% | 7.2% |
| Expense ratio | 1.02% | 0.29% |
| Cash paid, 1 year | 8.6% (since launch on Oct 22, 2025) | 7.9% |
| Price change, 1 year | +5.2% | +4.5% |
| Total return, 1 year | +14.4% (since launch on Oct 22, 2025) | +12.8% |
| Benchmark return, 1 year | +15.3% | +16.6% |
| Ahead or behind | −0.9 pts | −3.8 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 331 days | 1065 days |
| Net assets | $46m | $400m |
OEI in plain words
Over the period since launch on Oct 22, 2025 to Sep 18, 2026, OEI paid 8.6% of its starting value in cash distributions while its price rose 5.2%. With every distribution reinvested, the fund returned +14.4%. S&P 500 (SPY), used as a default proxy returned +15.3% over the same days, so a holder was behind by 0.9 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 9.2%, paid monthly.
PAPI in plain words
Over the year to Sep 18, 2026, PAPI paid 7.9% of its starting value in cash distributions while its price rose 4.5%. With every distribution reinvested, the fund returned +12.8%. S&P 500 (SPY) returned +16.6% over the same days, so a holder was behind by 3.8 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 7.2%, paid monthly.
Questions people ask
- Which is cheaper, OEI or PAPI?
- OEI charges 1.02% a year and PAPI charges 0.29%, so PAPI is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, OEI against PAPI, data as of Sep 18, 2026. https://etfiq.com/compare/income/oei-vs-papi Free to use with attribution; the underlying files are at Open data.