Which is cheaper, PAPI or RECI?

PAPI charges 0.29% a year and RECI charges 0.30%, so PAPI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

PAPI vs RECI: Dividend Yield & Total Return

PAPI and RECI both write options for income.

askIQ about this page

Net assets: $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF, beside Columbia Research Enhanced Core Premium Income ETF.

PAPI on its own →RECI on its own →

At a glance

8.2%

PAPI cash paid, 1 year

1.5%

RECI cash paid, since launch, Jul 14, 2026

+23.4%

PAPI total return, 1 year

+3.7%

RECI total return, since launch, Jul 14, 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. 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.

RECI · since launch to Nov 4, 2026 Not measured

RECI

+3.7%

none

Not measured

RECI since launch: paid 1.5%, price +2.1%, total +3.7%, not measured against a benchmark. Data to Nov 4, 2026.

RECI

+3.7%

Total return, distributions reinvested

Not measured

RECI since launch: paid 1.5%, price +2.1%, total +3.7%, not measured against a benchmark. Data to Nov 4, 2026.

RECI

+3.7%

1.5% of it arrived as cash. Both charts share one scale, 0 to +32.8%. RECI since launch: paid 1.5%, price +2.1%, total +3.7%, not measured against a benchmark. Data to Nov 4, 2026.

Both charts share one scale, 0 to +32.8%. Data to Nov 4, 2026.

Pair scorecard

PAPI costs 0.01 points a year less.

Points (pts) are percentage points.

PAPI vs RECI: Dividend Yield & Total Return
Measure	PAPI	RECI
Paid and earned
Measure	PAPI	RECI
Total return, 1 year	+23.4%	not published
Price change	rose 14.3% (1 year)	rose 2.1% (since Jul 14, 2026)
Return of capital, issuer estimate		78% of the Oct 5, 2026 payment
Against its benchmark
Measure	PAPI	RECI
Benchmark	iShares Russell 1000 Value ETF, measured through IWD	not published
Cost and size
Measure	PAPI	RECI
Expense ratio	0.29%	0.30%
Net assets	$400m	not read by ETFIQ
Holdings
Measure	PAPI	RECI
Holdings in common	not published

Method

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 RECI Columbia Research Enhanced Core Premium Income ETF · Covered call, paying monthly

Issuer Parametric Columbia

Strategy covered call covered call

Benchmark iShares Russell 1000 Value ETF (IWD) none

Pays monthly monthly

Payout rate, annualized 6.8% 8.0%

Expense ratio 0.29% 0.30%

Cash paid, 1 year 8.2% 1.5% (since launch, Jul 14, 2026)

Price change, 1 year +14.3% +2.1% (since launch, Jul 14, 2026)

Total return, 1 year +23.4% +3.7% (since launch, Jul 14, 2026)

Benchmark return, 1 year +32.8% not published

Ahead or behind −9.4 pts not available

Return of capital, latest estimate not published 78%

Age 3.0 years 113 days

Net assets $400m not read by ETFIQ

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 RECI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	PAPI	RECI	PAPI	RECI	PAPI	RECI
3 months	+6.6%	+3.5%	1.8%	1.5%	+2.6 pts	not measured
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 · RECI Jul 2026	+45.5%	+3.7%	23.9%	1.5%	−42.4 pts	not measured

– means no data for this window. Open this comparison in the app →

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.

RECI

Over the period from its first trade on Jul 14, 2026 to Nov 4, 2026, RECI paid 1.5% of its starting value in cash distributions while its price rose 2.1%. With every distribution reinvested, the fund returned +3.7%. At its price on Nov 4, 2026 the latest distribution annualizes to 8.0%, paid monthly. Columbia estimates that 78% of the distribution paid Oct 5, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

Questions people ask

Which is cheaper, PAPI or RECI?: PAPI charges 0.29% a year and RECI charges 0.30%, so PAPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

PAPI vs CDPI PAPI vs PCOV PAPI vs QQDH PAPI vs QVOL RECI vs TMGN RECI vs VOOY RECI vs YLDE RECI vs SDVD

Where to next

iShares Russell 1000 Value ETF (IWD) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →PAPI on its own →RECI on its own →PAPI dividend history →PAPI holdings →RECI dividend history →Method →Standards and sources →

Sources and dates

PAPI filings on SEC EDGAR ↗

PAPI prospectus with the expense ratio (SEC) ↗

Parametric website ↗

RECI filings on SEC EDGAR ↗

RECI prospectus with the expense ratio (SEC) ↗

RECI 19a-1 distribution notice ↗

Columbia website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

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

Open data →

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