Which paid more, OEI or PAPI?

Over the year to Nov 4, 2026, OEI paid 9.2% of its starting price in cash and PAPI paid 8.2%, so OEI paid more. Cash paid is not the same as money made: the price change matters too.

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

With every distribution reinvested, OEI returned +12.9% and PAPI +23.4% over the year to Nov 4, 2026.

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.

Data as of Nov 4, 2026.

Income ETFs

OEI vs PAPI: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, OEI paid 9.2% of its price in cash against PAPI’s 8.2%, though PAPI returned more with it reinvested.

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Net assets: $46m on Jul 31, 2026 for Optimized Equity Income ETF, and $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF.

OEI on its own →PAPI on its own →

At a glance

9.2%

OEI cash paid, 1 year

8.2%

PAPI cash paid, 1 year

+12.9%

OEI total return, 1 year

+23.4%

PAPI total return, 1 year

OEI · 1 year to Nov 4, 2026 1.9 pts behind SPY

OEI

+12.9%

SPY

+14.8%

1.9 pts behind SPY

OEI over 1 year: paid 9.2%, price +3.0%, total +12.9%, SPY +14.8%, −1.9 pts. Data to Nov 4, 2026.

SPY

+14.8%

OEI

+12.9%

9.2% as cash

1.9 pts behind SPY

Total return, distributions reinvested

1.9 pts behind SPY

OEI over 1 year: paid 9.2%, price +3.0%, total +12.9%, SPY +14.8%, −1.9 pts. Data to Nov 4, 2026.

SPY

+14.8%

OEI

+12.9%

1.9 pts behind SPY

9.2% of it arrived as cash. Total return, distributions reinvested. OEI over 1 year: paid 9.2%, price +3.0%, total +12.9%, SPY +14.8%, −1.9 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 0.73 points a year less; their one-year returns differ by 10.5 points.

Points (pts) are percentage points.

OEI vs PAPI: Dividend Yield & Total Return
Measure	OEI	PAPI
Paid and earned
Measure	OEI	PAPI
Total return, 1 year	+12.9%	+23.4%
Price change, 1 year	rose 3.0%	rose 14.3%
Against its benchmark
Measure	OEI	PAPI
Benchmark	S&P 500, measured through SPY	iShares Russell 1000 Value ETF, measured through IWD
Cost and size
Measure	OEI	PAPI
Expense ratio	1.02%	0.29%
Net assets, OEI as of Jul 31, 2026 and PAPI as of Jun 30, 2026	$46m	$400m
Holdings
Measure	OEI	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 Score75.7OEI96.1PAPI

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

OEI 75.7

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, OEI 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 OEI PAPI

Cisco Systems Inc 1.52% 0.76%

Texas Instruments Inc 0.64% 0.70%

AbbVie Inc 1.55% 0.64%

Alphabet Inc 3.44% 0.59%

Merck & Co Inc 1.11% 0.59%

QUALCOMM Inc 0.57% 0.58%

Coca-Cola Co 0.88% 0.56%

Johnson & Johnson 2.08% 0.56%

Home Depot Inc 1.16% 0.54%

IBM 0.52% 0.64%

Abbott Laboratories 0.65% 0.52%

RTX Corp 1.08% 0.51%

Only in one fund ↓

Only in OEI

NVIDIA Corp 8.22%

Amazon.com Inc 4.51%

Apple Inc 4.23%

Broadcom Inc 3.01%

Alphabet Inc 2.76%

Micron Technology Inc 2.54%

Meta Platforms Inc 2.15%

ExxonMobil Holdings Corp 2.04%

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%

Cummins, Inc. 0.70%

Reynolds Consumer Products, Inc. 0.68%

Check overlap with more funds →

Side by side

OEI Optimized Equity Income ETF · Option income 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 Core Alternative Parametric

Strategy option income covered call

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

Pays monthly monthly

Payout rate, annualized 9.6% 6.8%

Expense ratio 1.02% 0.29%

Cash paid, 1 year 9.2% 8.2%

Price change, 1 year +3.0% +14.3%

Total return, 1 year +12.9% +23.4%

Benchmark return, 1 year +14.8% +32.8%

Ahead or behind −1.9 pts −9.4 pts

Return of capital, latest estimate not published not published

Age 1.0 years 3.0 years

Net assets, OEI as of Jul 31, 2026 and PAPI as of Jun 30, 2026 $46m $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: OEI vs PAPI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	OEI	PAPI	OEI	PAPI	OEI	PAPI
3 months	+3.3%	+6.6%	2.4%	1.8%	+3.4 pts	+2.6 pts
6 months	+6.3%	+13.2%	4.7%	3.9%	+1.3 pts	−0.7 pts
1 year	+12.9%	+23.4%	9.2%	8.2%	−1.9 pts	−9.4 pts
3 years	–	+44.5%	–	23.7%	–	−39.8 pts
Since launchNot the same days: OEI Oct 2025 · PAPI Oct 2023	+15.0%	+45.5%	9.4%	23.9%	−1.1 pts	−42.4 pts

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Alert

About each fund

OEI

Over the year to Nov 4, 2026, OEI paid 9.2% of its starting value in cash distributions while its price rose 3.0%. With every distribution reinvested, the fund returned +12.9%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 1.9 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 9.6%, 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 paid more, OEI or PAPI?: Over the year to Nov 4, 2026, OEI paid 9.2% of its starting price in cash and PAPI paid 8.2%, so OEI paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, OEI or PAPI?: With every distribution reinvested, OEI returned +12.9% and PAPI +23.4% over the year to Nov 4, 2026.
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

OEI vs SDVD OEI vs RDVI OEI vs CDPI OEI vs QQDH PAPI vs ACSP PAPI vs XRMI PAPI vs WDTE PAPI vs XYLG

Where to next

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

Sources and dates

OEI filings on SEC EDGAR ↗

OEI prospectus with the expense ratio (SEC) ↗

Core Alternative 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

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

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