Data as of .
PAPI vs PBP: which paid, and which earned it?
Over the year PBP paid 11.8% of its price in cash against PAPI’s 7.9%, and returned more with it reinvested.
ETFIQ Return Stability Score: PBP scores higher
Was the payout funded by returns, or by your own capital?
A percentile among the 173 income ETFs writing on an index or proxy. It is a position in a set, not a rating, and neither end of it is a recommendation. All income ETFs ranked by it · How it is computed
What they hold in common
By the books each fund has filed, PAPI and PBP hold 16% of their money in the same securities at the same weight.
| Holding | PAPI | PBP |
|---|---|---|
| Cisco Systems, Inc. | 0.77% | 0.66% |
| AbbVie, Inc. | 0.64% | 0.71% |
| Alphabet, Inc. | 0.59% | 3.11% |
| Johnson & Johnson | 0.56% | 0.99% |
| Merck & Co., Inc. | 0.59% | 0.55% |
| Coca-Cola Co. (The) | 0.56% | 0.52% |
| Procter & Gamble Co. (The) | 0.49% | 0.52% |
| Costco Wholesale Corp. | 0.49% | 0.60% |
| Home Depot, Inc. (The) | 0.55% | 0.45% |
| Chevron Corp. | 0.45% | 0.59% |
| RTX Corp. | 0.52% | 0.40% |
| Microsoft Corp. | 0.39% | 5.57% |
| Only in PAPI | Only in PBP |
|---|---|
| TD SYNNEX Corp. 0.81% | NVIDIA Corp 8.18% |
| Power Integrations, Inc. 0.73% | Apple Inc 7.50% |
| Royalty Pharma plc 0.73% | Amazon.com Inc 3.77% |
| Millicom International Cellular SA 0.72% | Broadcom Inc 2.57% |
| Avnet, Inc. 0.71% | Alphabet Inc 2.47% |
| Reynolds Consumer Products, Inc. 0.68% | Meta Platforms Inc 2.22% |
| MSC Industrial Direct Co., Inc. 0.66% | Micron Technology Inc 1.74% |
| Wendy's Co. (The) 0.63% | Tesla Inc 1.56% |
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 Jun 30, 2026 and Sep 19, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| PAPI | PBP | PAPI | PBP | PAPI | PBP | |
| 3 months | +4.7% | +5.0% | 2.0% | 2.8% | +2.5 pts | +2.7 pts |
| 6 months | +5.6% | +13.0% | 4.0% | 5.7% | −12.4 pts | −5.0 pts |
| 1 year | +12.8% | +18.5% | 7.9% | 11.8% | −3.8 pts | +1.9 pts |
| 3 years | not published | +46.1% | not published | 31.8% | not published | −32.3 pts |
| Since launch | +35.6% | +199.0% | 22.5% | 101.2% | −49.6 pts | −604.5 pts |
| PAPI Parametric Equity Premium Income ETF Covered call on SPY, paying monthly | PBP Invesco S&P 500 BuyWrite ETF Covered call on SPY, paying monthly | |
|---|---|---|
| Issuer | Parametric | Invesco |
| Strategy | covered call | covered call |
| Benchmark | S&P 500 (SPY) | S&P 500 (SPY) |
| Pays | monthly | monthly |
| Payout rate, annualized | 7.2% | 11.3% |
| Expense ratio | 0.29% | 0.29% |
| Cash paid, 1 year | 7.9% | 11.8% |
| Price change, 1 year | +4.5% | +5.5% |
| Total return, 1 year | +12.8% | +18.5% |
| Benchmark return, 1 year | +16.6% | +16.6% |
| Ahead or behind | −3.8 pts | +1.9 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 1065 days | 6101 days |
| Net assets | $400m | $386m |
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.
PBP in plain words
Over the year to Sep 18, 2026, PBP paid 11.8% of its starting value in cash distributions while its price rose 5.5%. With every distribution reinvested, the fund returned +18.5%. S&P 500 (SPY) returned +16.6% over the same days, so a holder was ahead by 1.9 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 11.3%, paid monthly.
Questions people ask
- Which paid more, PAPI or PBP?
- Over the year to Sep 18, 2026, PAPI paid 7.9% of its starting price in cash and PBP paid 11.8%, so PBP paid more. Cash paid is not the same as money made: the price change matters too.
- Which returned more once distributions are counted, PAPI or PBP?
- With every distribution reinvested, PAPI returned +12.8% and PBP returned +18.5% over the year to Sep 18, 2026, so PBP returned more.
- Which is cheaper, PAPI or PBP?
- PAPI charges 0.29% a year and PBP 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, PAPI against PBP, data as of Sep 18, 2026. https://etfiq.com/compare/income/papi-vs-pbp Free to use with attribution; the underlying files are at Open data.