Which is cheaper, PAPI or SCEP?

PAPI charges 0.29% a year and SCEP charges 0.65%, so PAPI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

PAPI vs SCEP: Dividend Yield & Total Return

PAPI and SCEP both write options for income.

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Net assets on Jun 30, 2026: $400m for Parametric Equity Premium Income ETF and $235m for STERLING CAPITAL HEDGED EQUITY PREMIUM INCOME ETF.

PAPI on its own →SCEP on its own →

At a glance

8.2%

PAPI cash paid, 1 year

6.1%

SCEP cash paid, since launch, Dec 11, 2025

+23.4%

PAPI total return, 1 year

+5.3%

SCEP total return, since launch, Dec 11, 2025

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.

SCEP · since launch to Nov 4, 2026 Not measured

SCEP

+5.3%

none

Not measured

SCEP since launch: paid 6.1%, price −1.0%, total +5.3%, not measured against a benchmark. Data to Nov 4, 2026.

SCEP

+5.3%

6.1% as cash

Total return, distributions reinvested

Not measured

SCEP since launch: paid 6.1%, price −1.0%, total +5.3%, not measured against a benchmark. Data to Nov 4, 2026.

SCEP

+5.3%

6.1% of it arrived as cash. Both charts share one scale, with zero at the line. SCEP since launch: paid 6.1%, price −1.0%, total +5.3%, not measured against a benchmark. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

PAPI costs 0.36 points a year less; PAPI is 1.7 times larger.

Points (pts) are percentage points.

PAPI vs SCEP: Dividend Yield & Total Return
Measure	PAPI	SCEP
Paid and earned
Measure	PAPI	SCEP
Total return, 1 year	+23.4%	not published
Price change	rose 14.3% (1 year)	fell 1.1% (6 months)
Return of capital, issuer estimate		100% of the Oct 5, 2026 payment
Against its benchmark
Measure	PAPI	SCEP
Benchmark	iShares Russell 1000 Value ETF, measured through IWD	its own stocks
Cost and size
Measure	PAPI	SCEP
Expense ratio	0.29%	0.65%
Net assets, as of Jun 30, 2026	$400m	$235m
Holdings
Measure	PAPI	SCEP
Holdings in common	7%

Method

What they share

By the books each fund has filed, PAPI and SCEP hold 7% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026.

50%

0 half 100%

half

7% in common

Positions both hold · largest shared weight first PAPI SCEP

AbbVie, Inc. 0.64% 1.60%

Analog Devices, Inc. 0.62% 1.84%

Alphabet, Inc. 0.59% 5.88%

Johnson & Johnson 0.56% 1.51%

Home Depot, Inc. (The) 0.54% 1.49%

Aflac, Inc. 0.54% 1.68%

Williams Cos., Inc. (The) 0.53% 2.11%

WEC Energy Group, Inc. 0.52% 1.43%

Air Products and Chemicals, Inc. 0.51% 1.84%

TJX Cos., Inc. (The) 0.50% 0.95%

Procter & Gamble Co. (The) 0.49% 1.01%

Costco Wholesale Corp. 0.48% 2.36%

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 SCEP

APPLE INC 5.61%

NVIDIA CORP 5.61%

BROADCOM INC 5.51%

AMAZON.COM INC 4.60%

JP MORGAN CHASE & COMPANY 3.50%

LAM RESEARCH CORP 2.60%

PARKER-HANNIFIN CORP 2.59%

META PLATFORMS INC 2.19%

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 SCEP STERLING CAPITAL HEDGED EQUITY PREMIUM INCOME ETF · Covered call on its own stocks, paying monthly

Issuer Parametric Sterling Capital

Strategy covered call covered call

Benchmark iShares Russell 1000 Value ETF (IWD) SCEP's own stocks, without the options (from its filed holdings, rebalanced at each filing; latest Jun 30, 2026)

Pays monthly monthly

Payout rate, annualized 6.8% 7.0%

Expense ratio 0.29% 0.65%

Cash paid, 1 year 8.2% 6.1% (since launch, Dec 11, 2025)

Price change, 1 year +14.3% −1.0% (since launch, Dec 11, 2025)

Total return, 1 year +23.4% +5.3% (since launch, Dec 11, 2025)

Benchmark return, 1 year +32.8% not published

Ahead or behind −9.4 pts not available

Return of capital, latest estimate not published 100%

Age 3.0 years 328 days

Net assets, as of Jun 30, 2026 $400m $235m

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 SCEP: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	PAPI	SCEP	PAPI	SCEP	PAPI	SCEP
3 months	+6.6%	−1.2%	1.8%	1.7%	+2.6 pts	+0.8 pts
6 months	+13.2%	+2.4%	3.9%	3.5%	−0.7 pts	+0.4 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 · SCEP Dec 2025	+45.5%	+5.3%	23.9%	6.1%	−42.4 pts	not measured

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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.

SCEP

SCEP's own stocks, without the options (from its filed holdings, rebalanced at each filing; latest Jun 30, 2026) returned +2.1% over the same days, so a holder was about even.

Over the 6 months to Nov 4, 2026, SCEP paid 3.5% of its starting value in cash distributions while its price fell 1.1%. With every distribution reinvested, the fund returned +2.4%. At its price on Nov 4, 2026 the latest distribution annualizes to 7.0%, paid monthly. Sterling Capital estimates that 100% 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 SCEP?: PAPI charges 0.29% a year and SCEP charges 0.65%, so PAPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

PAPI vs RNTY PAPI vs CVRD PAPI vs TCAL PAPI vs GRNI SCEP vs SDVD SCEP vs RDVI SCEP vs FGSI SCEP vs CDPI

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 →SCEP on its own →PAPI dividend history →PAPI holdings →SCEP dividend history →SCEP holdings →Method →Standards and sources →

Sources and dates

PAPI filings on SEC EDGAR ↗

PAPI prospectus with the expense ratio (SEC) ↗

Parametric website ↗

SCEP filings on SEC EDGAR ↗

SCEP prospectus with the expense ratio (SEC) ↗

SCEP 19a-1 distribution notice ↗

Sterling Capital website ↗

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

How this is computed

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

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