Which is cheaper, PAPI or VOOY?

PAPI charges 0.29% a year and VOOY charges 0.75%, so PAPI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

PAPI vs VOOY: Dividend Yield & Total Return

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PAPI and VOOY both write options for income.

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askIQ about PAPI and VOOY

Net assets: $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF, beside XFUNDS Large Cap Income ETF.

PAPI on its own →VOOY on its own →

At a glance

8.2%

PAPI cash paid, 1 year

1.5%

VOOY cash paid, since launch, Sep 2, 2026

+23.4%

PAPI total return, 1 year

+0.3%

VOOY total return, since launch, Sep 2, 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.

VOOY · since launch to Nov 4, 2026 Not measured

VOOY

+0.3%

none

Not measured

VOOY since launch: paid 1.5%, price −1.2%, total +0.3%, not measured against a benchmark. Data to Nov 4, 2026.

VOOY

+0.3%

Total return, distributions reinvested

Not measured

VOOY since launch: paid 1.5%, price −1.2%, total +0.3%, not measured against a benchmark. Data to Nov 4, 2026.

VOOY

+0.3%

1.5% of it arrived as cash. Both charts share one scale, with zero at the line. VOOY since launch: paid 1.5%, price −1.2%, total +0.3%, not measured against a benchmark. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

PAPI costs 0.46 points a year less.

Points (pts) are percentage points.

PAPI vs VOOY: Dividend Yield & Total Return
Measure	PAPI	VOOY
Paid and earned
Measure	PAPI	VOOY
Total return, 1 year	+23.4%	not published
Price change	rose 14.3% (1 year)	fell 1.2% (since Sep 2, 2026)
Return of capital, issuer estimate		26% of the Oct 7, 2026 payment
Against its benchmark
Measure	PAPI	VOOY
Benchmark	iShares Russell 1000 Value ETF, measured through IWD	not published
Cost and size
Measure	PAPI	VOOY
Expense ratio	0.29%	0.75%
Net assets	$400m	not read by ETFIQ
Holdings
Measure	PAPI	VOOY
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 VOOY XFUNDS Large Cap Income ETF · Option income

Issuer Parametric XFUNDS

Strategy covered call option income

Benchmark iShares Russell 1000 Value ETF (IWD) none

Pays monthly not established

Payout rate, annualized 6.8% 9.1%

Expense ratio 0.29% 0.75%

Cash paid, 1 year 8.2% 1.5% (since launch, Sep 2, 2026)

Price change, 1 year +14.3% −1.2% (since launch, Sep 2, 2026)

Total return, 1 year +23.4% +0.3% (since launch, Sep 2, 2026)

Benchmark return, 1 year +32.8% not published

Ahead or behind −9.4 pts not available

Return of capital, latest estimate not published 26%

Age 3.0 years 63 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 VOOY: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	PAPI	VOOY	PAPI	VOOY	PAPI	VOOY
3 months	+6.6%	–	1.8%	–	+2.6 pts	–
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 · VOOY Sep 2026	+45.5%	+0.3%	23.9%	1.5%	−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.

VOOY

Over the period from its first trade on Sep 2, 2026 to Nov 4, 2026, VOOY paid 1.5% of its starting value in cash distributions while its price fell 1.2%. With every distribution reinvested, the fund returned +0.3%. At its price on Nov 4, 2026 the latest distribution annualizes to 9.1%, paid periodically. XFUNDS estimates that 26% of the distribution paid Oct 7, 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 VOOY?: PAPI charges 0.29% a year and VOOY charges 0.75%, so PAPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

PAPI vs CDPI PAPI vs DDDD PAPI vs DYLG PAPI vs FDND VOOY vs YLDE VOOY vs YSPC VOOY vs RDVI VOOY vs YQQQ

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

Sources and dates

PAPI filings on SEC EDGAR ↗

PAPI prospectus with the expense ratio (SEC) ↗

Parametric website ↗

VOOY filings on SEC EDGAR ↗

VOOY prospectus with the expense ratio (SEC) ↗

VOOY 19a-1 distribution notice ↗

XFUNDS page for VOOY ↗

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

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