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Data as of Nov 4, 2026.

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Income ETFs

PAPI vs QLDY: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, QLDY paid 35.3% of its price in cash against PAPI’s 8.2%, though PAPI returned more with it reinvested.

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askIQ about PAPI and QLDY

Net assets: $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF, and $53m on Nov 3, 2026 for Defiance Nasdaq 100 LightningSpread Income ETF.

PAPI on its own →QLDY on its own →
At a glance
8.2%
PAPI cash paid, 1 year
35.3%
QLDY cash paid, 1 year
+23.4%
PAPI total return, 1 year
+9.1%
QLDY total return, 1 year
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. 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.
QLDY · 1 year to Nov 4, 2026 3.2 pts behind QQQ
QLDY
+9.1%
QQQ
+12.3%

3.2 pts behind QQQ

QLDY over 1 year: paid 35.3%, price −27.2%, total +9.1%, QQQ +12.3%, −3.2 pts. Data to Nov 4, 2026.

QQQ

+12.3%

QLDY

+9.1%

35.3% as cash

3.2 pts behind QQQ

Total return, distributions reinvested

3.2 pts behind QQQ

QLDY over 1 year: paid 35.3%, price −27.2%, total +9.1%, QQQ +12.3%, −3.2 pts. Data to Nov 4, 2026.

QQQ

+12.3%

QLDY

+9.1%

3.2 pts behind QQQ

35.3% of it arrived as cash. Both charts share one scale, with zero at the line. QLDY over 1 year: paid 35.3%, price −27.2%, total +9.1%, QQQ +12.3%, −3.2 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

PAPI costs 0.75 points a year less; their one-year returns differ by 14.3 points.

Points (pts) are percentage points.

PAPI vs QLDY: Dividend Yield & Total Return
MeasurePAPIQLDY
Paid and earned
Total return, 1 year+23.4%+9.1%
Price change, 1 yearrose 14.3%fell 27.2%
Return of capital, issuer estimate0% of the Nov 2, 2026 payment
Against its benchmark
BenchmarkiShares Russell 1000 Value ETF, measured through IWDNasdaq-100, measured through QQQ
Cost and size
Expense ratio0.29%1.04%
Net assets, PAPI as of Jun 30, 2026 and QLDY as of Nov 3, 2026$400m$53m
Holdings
Holdings in common0%
ETFIQ Distribution Coverage Score · PAPI scores higher How much of what it paid out did its total return cover?
IQ Income Score96.1PAPI24.9QLDY

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

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

0%

By the books each fund has filed, PAPI and QLDY hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 4, 2026.

0 half 100%

half

0% in common

Positions both hold · largest shared weight first PAPI QLDY
Only in one fund ↓
Only in PAPI
Corning, Inc. 1.00%
TD SYNNEX Corp. 0.80%
Cisco Systems, Inc. 0.76%
Power Integrations, Inc. 0.73%
Royalty Pharma plc 0.72%
Millicom International Cellular SA 0.72%
Avnet, Inc. 0.70%
Texas Instruments, Inc. 0.70%
Only in QLDY
Ndx 12/18/2026 2001.44 C 92.84%
United States Treasury Note/bond 2.375% 05/15/2027 0.49%
Exchange Put Opt 11/26 28320 0.15%
Xnd 12/18/2026 10.44 C 0.05%
Nasdaq-1 Put Opt 11/26 28470 -0.24%
Check overlap with more funds →

Side by side

PAPI Parametric Equity Premium Income ETF · Writes options on the S&P 500, measured against the Russell 1000 Value Index, paying monthly QLDY Defiance Nasdaq 100 LightningSpread Income ETF · Option income on QQQ, paying weekly
Issuer Parametric Defiance
Strategy covered call option income
Benchmark iShares Russell 1000 Value ETF (IWD) Nasdaq-100 (QQQ)
Pays monthly weekly
Payout rate, annualized 6.8% 19.7%
Expense ratio 0.29% 1.04%
Cash paid, 1 year 8.2% 35.3%
Price change, 1 year +14.3% −27.2%
Total return, 1 year +23.4% +9.1%
Benchmark return, 1 year +32.8% +12.3%
Ahead or behind −9.4 pts −3.2 pts
Return of capital, latest estimate not published 0%
Age 3.0 years 1.1 years
Net assets, PAPI as of Jun 30, 2026 and QLDY as of Nov 3, 2026 $400m $53m

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: PAPI vs QLDY: Dividend Yield & Total Return
Total returnCash paidAgainst the benchmark
WindowPAPIQLDYPAPIQLDYPAPIQLDY
3 months+6.6%−4.5%1.8%9.5%+2.6 pts−1.1 pts
6 months+13.2%−3.1%3.9%18.5%−0.7 pts−2.8 pts
1 year+23.4%+9.1%8.2%35.3%−9.4 pts−3.2 pts
3 years+44.5%–23.7%–−39.8 pts–
Since launchNot the same days: PAPI Oct 2023 · QLDY Sep 2025+45.5%+13.2%23.9%39.1%−42.4 pts−3.7 pts

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About each fund
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.

QLDY

Over the year to Nov 4, 2026, QLDY paid 35.3% of its starting value in cash distributions while its price fell 27.2%. With every distribution reinvested, the fund returned +9.1%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was behind by 3.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 19.7%, paid weekly. Defiance estimates that 0% of the distribution paid Nov 2, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

Questions people ask

Which paid more, PAPI or QLDY?
Over the year to Nov 4, 2026, PAPI paid 8.2% of its starting price in cash and QLDY paid 35.3%, so QLDY 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 QLDY?
With every distribution reinvested, PAPI returned +23.4% and QLDY +9.1% over the year to Nov 4, 2026.
Which is cheaper, PAPI or QLDY?
PAPI charges 0.29% a year and QLDY charges 1.04%, so PAPI is cheaper. Fees come from each fund's prospectus.
Other comparisons
PAPI vs QDTYPAPI vs XQQIPAPI vs ROCQPAPI vs QDTEQLDY vs YLDEQLDY vs SDVDQLDY vs RDVIQLDY vs XSHP
Where to next
iShares Russell 1000 Value ETF (IWD) →Nasdaq-100 (QQQ) →PAPI on its own →QLDY on its own →PAPI dividend history →PAPI holdings →QLDY dividend history →QLDY holdings →Method →Standards and sources →
Sources and dates
PAPI filings on SEC EDGAR ↗
PAPI prospectus with the expense ratio (SEC) ↗
Parametric website ↗
QLDY filings on SEC EDGAR ↗
QLDY prospectus with the expense ratio (SEC) ↗
QLDY 19a-1 distribution notice ↗
Defiance page for QLDY ↗

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

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