Which paid more, PAPI or QQQI?

Over the year to Nov 4, 2026, PAPI paid 8.2% of its starting price in cash and QQQI paid 13.9%, so QQQI 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 QQQI?

With every distribution reinvested, PAPI returned +23.4% and QQQI +8.9% over the year to Nov 4, 2026.

Which is cheaper, PAPI or QQQI?

PAPI charges 0.29% a year and QQQI charges 0.68%, so PAPI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

PAPI vs QQQI: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, QQQI paid 13.9% of its price in cash against PAPI’s 8.2%, though PAPI returned more with it reinvested.

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Net assets: $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF, and $15.5bn on Oct 28, 2026 for NEOS Nasdaq-100 High Income ETF.

PAPI on its own →QQQI on its own →

At a glance

8.2%

PAPI cash paid, 1 year

13.9%

QQQI cash paid, 1 year

+23.4%

PAPI total return, 1 year

+8.9%

QQQI 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.

QQQI · 1 year to Nov 4, 2026 3.4 pts behind QQQ

QQQI

+8.9%

QQQ

+12.3%

3.4 pts behind QQQ

QQQI over 1 year: paid 13.9%, price −5.4%, total +8.9%, QQQ +12.3%, −3.4 pts. Data to Nov 4, 2026.

QQQ

+12.3%

QQQI

+8.9%

13.9% as cash

3.4 pts behind QQQ

Total return, distributions reinvested

3.4 pts behind QQQ

QQQI over 1 year: paid 13.9%, price −5.4%, total +8.9%, QQQ +12.3%, −3.4 pts. Data to Nov 4, 2026.

QQQ

+12.3%

QQQI

+8.9%

3.4 pts behind QQQ

13.9% of it arrived as cash. Both charts share one scale, with zero at the line. QQQI over 1 year: paid 13.9%, price −5.4%, total +8.9%, QQQ +12.3%, −3.4 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

PAPI costs 0.39 points a year less; their one-year returns differ by 14.5 points.

Points (pts) are percentage points.

PAPI vs QQQI: Dividend Yield & Total Return
Measure	PAPI	QQQI
Paid and earned
Measure	PAPI	QQQI
Total return, 1 year	+23.4%	+8.9%
Price change, 1 year	rose 14.3%	fell 5.4%
Return of capital, issuer estimate		100% of the Oct 23, 2026 payment
Against its benchmark
Measure	PAPI	QQQI
Benchmark	iShares Russell 1000 Value ETF, measured through IWD	Nasdaq-100, measured through QQQ
Cost and size
Measure	PAPI	QQQI
Expense ratio	0.29%	0.68%
Net assets, PAPI as of Jun 30, 2026 and QQQI as of Oct 28, 2026	$400m	$15.5bn
Holdings
Measure	PAPI	QQQI
Holdings in common	8%

ETFIQ Distribution Coverage Score · PAPI scores higher How much of what it paid out did its total return cover?

IQ Income Score96.1PAPI42.2QQQI

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

PAPI 96.1

QQQI 42.2

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

By the books each fund has filed, PAPI and QQQI hold 8% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.

50%

0 half 100%

half

8% in common

Positions both hold · largest shared weight first PAPI QQQI

Cisco Systems, Inc. 0.76% 1.85%

Texas Instruments, Inc. 0.70% 1.28%

Analog Devices, Inc. 0.62% 0.92%

Alphabet, Inc. 0.59% 2.66%

QUALCOMM, Inc. 0.58% 0.78%

Linde plc 0.54% 1.06%

Automatic Data Processing, Inc. 0.59% 0.53%

Costco Wholesale Corp. 0.48% 2.02%

Gilead Sciences, Inc. 0.48% 0.94%

PepsiCo, Inc. 0.46% 0.84%

Microsoft Corp. 0.39% 6.31%

Comcast Corp. 0.39% 0.38%

Only in one fund ↓

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%

Only in QQQI

NVIDIA Corp 8.08%

Apple Inc 7.88%

Amazon.com Inc 4.40%

Micron Technology Inc 4.34%

Advanced Micro Devices Inc 3.56%

Tesla Inc 3.42%

Meta Platforms Inc 3.00%

Walmart Inc 2.74%

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 QQQI NEOS Nasdaq-100 High Income ETF · Option income on QQQ, paying monthly

Issuer Parametric NEOS

Strategy covered call option income

Benchmark iShares Russell 1000 Value ETF (IWD) Nasdaq-100 (QQQ)

Pays monthly monthly

Payout rate, annualized 6.8% 14.7%

Expense ratio 0.29% 0.68%

Cash paid, 1 year 8.2% 13.9%

Price change, 1 year +14.3% −5.4%

Total return, 1 year +23.4% +8.9%

Benchmark return, 1 year +32.8% +12.3%

Ahead or behind −9.4 pts −3.4 pts

Return of capital, latest estimate not published 100%

Age 3.0 years 2.8 years

Net assets, PAPI as of Jun 30, 2026 and QQQI as of Oct 28, 2026 $400m $15.5bn

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 QQQI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	PAPI	QQQI	PAPI	QQQI	PAPI	QQQI
3 months	+6.6%	−2.2%	1.8%	3.5%	+2.6 pts	+1.3 pts
6 months	+13.2%	−0.2%	3.9%	6.9%	−0.7 pts	+0.1 pts
1 year	+23.4%	+8.9%	8.2%	13.9%	−9.4 pts	−3.4 pts
3 years	+44.5%	–	23.7%	–	−39.8 pts	–
Since launchNot the same days: PAPI Oct 2023 · QQQI Jan 2024	+45.5%	+53.8%	23.9%	41.2%	−42.4 pts	−11.2 pts

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Alert

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.

QQQI

Over the year to Nov 4, 2026, QQQI paid 13.9% of its starting value in cash distributions while its price fell 5.4%. With every distribution reinvested, the fund returned +8.9%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was behind by 3.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 14.7%, paid monthly. NEOS estimates that 100% of the distribution paid Oct 23, 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 QQQI?: Over the year to Nov 4, 2026, PAPI paid 8.2% of its starting price in cash and QQQI paid 13.9%, so QQQI 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 QQQI?: With every distribution reinvested, PAPI returned +23.4% and QQQI +8.9% over the year to Nov 4, 2026.
Which is cheaper, PAPI or QQQI?: PAPI charges 0.29% a year and QQQI charges 0.68%, so PAPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

PAPI vs QYLD PAPI vs QDTE PAPI vs ROCQ PAPI vs XQQI QQQI vs VOOY QQQI vs TSLY QQQI vs YLDE QQQI vs SDVD

Where to next

iShares Russell 1000 Value ETF (IWD) →Nasdaq-100 (QQQ) →PAPI on its own →QQQI on its own →PAPI dividend history →PAPI holdings →QQQI dividend history →QQQI holdings →Method →Standards and sources →

Sources and dates

PAPI filings on SEC EDGAR ↗

PAPI prospectus with the expense ratio (SEC) ↗

Parametric website ↗

QQQI filings on SEC EDGAR ↗

QQQI prospectus with the expense ratio (SEC) ↗

QQQI 19a-1 distribution notice ↗

NEOS page for QQQI ↗

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 QQQI, data as of Nov 4, 2026. https://etfiq.com/compare/income/papi-vs-qqqi

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