Data as of .
PAPI vs SCLZ: which paid, and which earned it?
Over the year SCLZ paid 8.4% of its price in cash against PAPI’s 7.9% and the two finished level on total return.
ETFIQ Return Stability Score: PAPI scores higher
Was the payout funded by returns, or by your own capital?
A percentile among the 173 income ETFs writing on an index or proxy. It is a position in a set, not a rating, and neither end of it is a recommendation. All income ETFs ranked by it · How it is computed
What they hold in common
By the books each fund has filed, PAPI and SCLZ hold 9% of their money in the same securities at the same weight.
| Holding | PAPI | SCLZ |
|---|---|---|
| Cisco Systems, Inc. | 0.77% | 3.01% |
| AbbVie, Inc. | 0.64% | 1.82% |
| Alphabet, Inc. | 0.59% | 5.18% |
| Coca-Cola Co. (The) | 0.56% | 0.88% |
| Johnson & Johnson | 0.56% | 2.41% |
| Home Depot, Inc. (The) | 0.55% | 1.51% |
| Linde plc | 0.54% | 0.99% |
| American Electric Power Co., Inc. | 0.54% | 0.61% |
| RTX Corp. | 0.52% | 1.35% |
| Duke Energy Corp. | 0.51% | 1.01% |
| TJX Cos., Inc. (The) | 0.51% | 0.85% |
| Costco Wholesale Corp. | 0.49% | 0.90% |
| Only in PAPI | Only in SCLZ |
|---|---|
| Corning, Inc. 1.01% | MICRON TECHNOLOGY INC 7.89% |
| TD SYNNEX Corp. 0.81% | APPLE INC 6.15% |
| Power Integrations, Inc. 0.73% | NVIDIA CORP 5.99% |
| Royalty Pharma plc 0.73% | ADVANCED MICRO DEVICES INC 5.14% |
| Millicom International Cellular SA 0.72% | BROADCOM INC 4.71% |
| Avnet, Inc. 0.71% | ELI LILLY & COMPANY 3.86% |
| Texas Instruments, Inc. 0.71% | AMAZON.COM INC 3.75% |
| Cummins, Inc. 0.70% | JP MORGAN CHASE & COMPANY 3.50% |
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 | SCLZ | PAPI | SCLZ | PAPI | SCLZ | |
| 3 months | +4.7% | +2.9% | 2.0% | 2.1% | +2.5 pts | −3.6 pts |
| 6 months | +5.6% | +14.2% | 4.0% | 3.8% | −12.4 pts | +1.6 pts |
| 1 year | +12.8% | +13.2% | 7.9% | 8.4% | −3.8 pts | −14.0 pts |
| Since launch | +35.6% | +36.5% | 22.5% | 19.6% | −49.6 pts | −6.3 pts |
| PAPI Parametric Equity Premium Income ETF Covered call on SPY, paying monthly | SCLZ Swan Enhanced Dividend Income ETF Dividend stocks with call overlay on SCHD, paying monthly | |
|---|---|---|
| Issuer | Parametric | Swan |
| Strategy | covered call | dividend stocks with call overlay |
| Benchmark | S&P 500 (SPY) | US dividend stocks (SCHD), used as the dividend proxy |
| Pays | monthly | monthly |
| Payout rate, annualized | 7.2% | 8.5% |
| Expense ratio | 0.29% | 0.79% |
| Cash paid, 1 year | 7.9% | 8.4% |
| Price change, 1 year | +4.5% | +4.1% |
| Total return, 1 year | +12.8% | +13.2% |
| Benchmark return, 1 year | +16.6% | +27.2% |
| Ahead or behind | −3.8 pts | −14.0 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 1065 days | 934 days |
| Net assets | $400m | $20m |
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.
SCLZ in plain words
Over the year to Sep 18, 2026, SCLZ paid 8.4% of its starting value in cash distributions while its price rose 4.1%. With every distribution reinvested, the fund returned +13.2%. US dividend stocks (SCHD), used as the dividend proxy returned +27.2% over the same days, so a holder was behind by 14.0 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 8.5%, paid monthly.
Questions people ask
- Which paid more, PAPI or SCLZ?
- Over the year to Sep 18, 2026, PAPI paid 7.9% of its starting price in cash and SCLZ paid 8.4%, so SCLZ 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 SCLZ?
- With every distribution reinvested, PAPI returned +12.8% and SCLZ returned +13.2% over the year to Sep 18, 2026, so SCLZ returned more.
- Which is cheaper, PAPI or SCLZ?
- PAPI charges 0.29% a year and SCLZ charges 0.79%, 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 SCLZ, data as of Sep 18, 2026. https://etfiq.com/compare/income/papi-vs-sclz Free to use with attribution; the underlying files are at Open data.