Data as of .
PAPI vs SCEP: which paid, and which earned it?
PAPI and SCEP both write options for income.
What they hold in common
By the books each fund has filed, PAPI and SCEP hold 7% of their money in the same securities at the same weight.
| Holding | PAPI | SCEP |
|---|---|---|
| AbbVie, Inc. | 0.64% | 1.62% |
| Analog Devices, Inc. | 0.63% | 1.87% |
| Alphabet, Inc. | 0.59% | 5.98% |
| Johnson & Johnson | 0.56% | 1.54% |
| Home Depot, Inc. (The) | 0.55% | 1.52% |
| Aflac, Inc. | 0.54% | 1.71% |
| Williams Cos., Inc. (The) | 0.53% | 2.15% |
| WEC Energy Group, Inc. | 0.52% | 1.45% |
| Air Products and Chemicals, Inc. | 0.51% | 1.87% |
| TJX Cos., Inc. (The) | 0.51% | 0.97% |
| Procter & Gamble Co. (The) | 0.49% | 1.03% |
| Costco Wholesale Corp. | 0.49% | 2.40% |
| Only in PAPI | Only in SCEP |
|---|---|
| Corning, Inc. 1.01% | APPLE INC 5.71% |
| TD SYNNEX Corp. 0.81% | NVIDIA CORP 5.70% |
| Cisco Systems, Inc. 0.77% | BROADCOM INC 5.61% |
| Power Integrations, Inc. 0.73% | AMAZON.COM INC 4.68% |
| Royalty Pharma plc 0.73% | JP MORGAN CHASE & COMPANY 3.55% |
| Millicom International Cellular SA 0.72% | LAM RESEARCH CORP 2.64% |
| Avnet, Inc. 0.71% | PARKER-HANNIFIN CORP 2.63% |
| Texas Instruments, Inc. 0.71% | META PLATFORMS INC 2.23% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| PAPI | SCEP | PAPI | SCEP | PAPI | SCEP | |
| 3 months | +4.7% | −0.1% | 2.0% | 1.7% | +2.5 pts | −2.4 pts |
| 6 months | +5.6% | +8.3% | 4.0% | 3.7% | −12.4 pts | −9.7 pts |
| 1 year | +12.8% | not published | 7.9% | not published | −3.8 pts | not published |
| Since launch | +35.6% | +3.5% | 22.5% | 5.0% | −49.6 pts | −8.2 pts |
| PAPI Parametric Equity Premium Income ETF Covered call on SPY, paying monthly | SCEP STERLING CAPITAL HEDGED EQUITY PREMIUM INCOME ETF Covered call on SPY, paying monthly | |
|---|---|---|
| Issuer | Parametric | Sterling Capital |
| Strategy | covered call | covered call |
| Benchmark | S&P 500 (SPY) | S&P 500 (SPY) |
| Pays | monthly | monthly |
| Payout rate, annualized | 7.2% | 7.1% |
| Expense ratio | 0.29% | 0.65% |
| Cash paid, 1 year | 7.9% | 5.0% (since launch on Dec 11, 2025) |
| Price change, 1 year | +4.5% | −1.6% |
| Total return, 1 year | +12.8% | +3.5% (since launch on Dec 11, 2025) |
| Benchmark return, 1 year | +16.6% | +11.7% |
| Ahead or behind | −3.8 pts | −8.2 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 1065 days | 281 days |
| Net assets | $400m | $235m |
PAPI in plain words
Over the year to Sep 18, 2026, PAPI paid 7.9% of its starting value in cash distributions while its price rose 4.5%. With every distribution reinvested, the fund returned +12.8%. S&P 500 (SPY) returned +16.6% over the same days, so a holder was behind by 3.8 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 7.2%, paid monthly.
SCEP in plain words
Over the period since launch on Dec 11, 2025 to Sep 18, 2026, SCEP paid 5.0% of its starting value in cash distributions while its price fell 1.6%. With every distribution reinvested, the fund returned +3.5%. S&P 500 (SPY) returned +11.7% over the same days, so a holder was behind by 8.2 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 7.1%, paid monthly.
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
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, PAPI against SCEP, data as of Sep 18, 2026. https://etfiq.com/compare/income/papi-vs-scep Free to use with attribution; the underlying files are at Open data.