Data as of Nov 4, 2026.
PAPI vs PCOV: Dividend Yield & Total Return
PAPI and PCOV both write options for income.
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Net assets: $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF, and $10m on Nov 2, 2026 for Principal Equity Premium Income ETF.
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. Total return, distributions reinvested. PAPI over 1 year: paid 8.2%, price +14.3%, total +23.4%, IWD +32.8%, −9.4 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Not measured
PCOV since launch: paid 1.9%, price −2.0%, total −0.1%, not measured against a benchmark. Data to Nov 4, 2026.
PCOV
−0.1%
Total return, distributions reinvested
Not measured
PCOV since launch: paid 1.9%, price −2.0%, total −0.1%, not measured against a benchmark. Data to Nov 4, 2026.
PCOV
−0.1%
1.9% of it arrived as cash. Both charts share one scale, with zero at the line. PCOV since launch: paid 1.9%, price −2.0%, total −0.1%, not measured against a benchmark. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
PAPI costs 0.05 points a year less.
Points (pts) are percentage points.
| Measure | PAPI | PCOV |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +23.4% | not published |
| Price change | rose 14.3% (1 year) | fell 2.0% (since Aug 19, 2026) |
| Against its benchmark | ||
| Benchmark | iShares Russell 1000 Value ETF, measured through IWD | not published |
| Cost and size | ||
| Expense ratio | 0.29% | 0.34% |
| Net assets, PAPI as of Jun 30, 2026 and PCOV as of Nov 2, 2026 | $400m | $10m |
| Holdings | ||
| Holdings in common | not published | |
Side by side
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
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | PAPI | PCOV | PAPI | PCOV | PAPI | PCOV |
| 3 months | +6.6% | – | 1.8% | – | +2.6 pts | – |
| 6 months | +13.2% | – | 3.9% | – | −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: PAPI Oct 2023 · PCOV Aug 2026 | +45.5% | −0.1% | 23.9% | 1.9% | −42.4 pts | not measured |
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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.
PCOV
Over the period from its first trade on Aug 19, 2026 to Nov 4, 2026, PCOV paid 1.9% of its starting value in cash distributions while its price fell 2.0%. With every distribution reinvested, the fund returned −0.1%. At its price on Nov 4, 2026 the latest distribution annualizes to 7.2%, paid periodically.
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How this is computed
Every number is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, PAPI against PCOV, data as of Nov 4, 2026. https://etfiq.com/compare/income/papi-vs-pcov
ETFIQ. (Nov 4, 2026). PAPI against PCOV. Retrieved from https://etfiq.com/compare/income/papi-vs-pcov
[PAPI against PCOV (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/papi-vs-pcov)
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