Which is cheaper, PAPI or XQQI?

PAPI charges 0.29% a year and XQQI charges 0.98%, so PAPI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

PAPI vs XQQI: Dividend Yield & Total Return

PAPI and XQQI both write options for income.

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Net assets: $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF, and $408m on Oct 28, 2026 for NEOS Boosted Nasdaq-100 High Income ETF.

PAPI on its own →XQQI on its own →

At a glance

8.2%

PAPI cash paid, 1 year

17.0%

XQQI cash paid, since launch, Feb 3, 2026

+23.4%

PAPI total return, 1 year

+7.7%

XQQI total return, since launch, Feb 3, 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.

XQQI · since launch to Nov 4, 2026 4.9 pts behind QQQ

XQQI

+7.7%

QQQ

+12.6%

4.9 pts behind QQQ

XQQI since launch: paid 17.0%, price −9.2%, total +7.7%, QQQ +12.6%, −4.9 pts. Data to Nov 4, 2026.

QQQ

+12.6%

XQQI

+7.7%

17.0% as cash

4.9 pts behind QQQ

Total return, distributions reinvested

4.9 pts behind QQQ

XQQI since launch: paid 17.0%, price −9.2%, total +7.7%, QQQ +12.6%, −4.9 pts. Data to Nov 4, 2026.

QQQ

+12.6%

XQQI

+7.7%

4.9 pts behind QQQ

17.0% of it arrived as cash. Both charts share one scale, with zero at the line. XQQI since launch: paid 17.0%, price −9.2%, total +7.7%, QQQ +12.6%, −4.9 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

PAPI costs 0.69 points a year less.

Points (pts) are percentage points.

PAPI vs XQQI: Dividend Yield & Total Return
Measure	PAPI	XQQI
Paid and earned
Measure	PAPI	XQQI
Total return, 1 year	+23.4%	not published
Price change	rose 14.3% (1 year)	fell 9.2% (since Feb 3, 2026)
Return of capital, issuer estimate		100% of the Oct 9, 2026 payment
Against its benchmark
Measure	PAPI	XQQI
Benchmark	iShares Russell 1000 Value ETF, measured through IWD	Nasdaq-100, measured through QQQ
Cost and size
Measure	PAPI	XQQI
Expense ratio	0.29%	0.98%
Net assets, PAPI as of Jun 30, 2026 and XQQI as of Oct 28, 2026	$400m	$408m
Holdings
Measure	PAPI	XQQI
Holdings in common	8%

Method

What they share

By the books each fund has filed, PAPI and XQQI hold 8% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.

50%

0 half 100%

half

8% in common

Positions both hold · largest shared weight first PAPI XQQI

Cisco Systems, Inc. 0.76% 1.99%

Texas Instruments, Inc. 0.70% 1.38%

Analog Devices, Inc. 0.62% 0.99%

Automatic Data Processing, Inc. 0.59% 0.61%

Alphabet, Inc. 0.59% 2.90%

QUALCOMM, Inc. 0.58% 0.87%

Linde plc 0.54% 1.18%

Costco Wholesale Corp. 0.48% 2.18%

Gilead Sciences, Inc. 0.48% 1.00%

PepsiCo, Inc. 0.46% 0.91%

Comcast Corp. 0.39% 0.43%

Microsoft Corp. 0.39% 6.78%

Only in one fund ↓

Only in PAPI

Corning, Inc. 1.00%

TD SYNNEX Corp. 0.80%

Power Integrations, Inc. 0.73%

Royalty Pharma plc 0.72%

Millicom International Cellular SA 0.72%

Avnet, Inc. 0.70%

Cummins, Inc. 0.70%

Reynolds Consumer Products, Inc. 0.68%

Only in XQQI

NVIDIA Corp 8.71%

Apple Inc 8.50%

Amazon.com Inc 4.74%

Micron Technology Inc 4.63%

Advanced Micro Devices Inc 3.78%

Tesla Inc 3.64%

Meta Platforms Inc 3.22%

Walmart Inc 2.93%

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 XQQI NEOS Boosted Nasdaq-100 High Income ETF · Option income on QQQ, paying monthly

Issuer Parametric NEOS

Strategy covered call option income

Benchmark iShares Russell 1000 Value ETF (IWD) Nasdaq-100 (QQQ)

Pays monthly monthly

Payout rate, annualized 6.8% 20.2%

Expense ratio 0.29% 0.98%

Cash paid, 1 year 8.2% 17.0% (since launch, Feb 3, 2026)

Price change, 1 year +14.3% −9.2% (since launch, Feb 3, 2026)

Total return, 1 year +23.4% +7.7% (since launch, Feb 3, 2026)

Benchmark return, 1 year +32.8% +12.6% (since launch, Feb 3, 2026)

Ahead or behind −9.4 pts −4.9 pts (since launch, Feb 3, 2026)

Return of capital, latest estimate not published 100%

Age 3.0 years 274 days

Net assets, PAPI as of Jun 30, 2026 and XQQI as of Oct 28, 2026 $400m $408m

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 XQQI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	PAPI	XQQI	PAPI	XQQI	PAPI	XQQI
3 months	+6.6%	−4.1%	1.8%	5.0%	+2.6 pts	−0.6 pts
6 months	+13.2%	−3.0%	3.9%	10.0%	−0.7 pts	−2.6 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 · XQQI Feb 2026	+45.5%	+7.7%	23.9%	17.0%	−42.4 pts	−4.9 pts

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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.

XQQI

Over the period from its first trade on Feb 3, 2026 to Nov 4, 2026, XQQI paid 17.0% of its starting value in cash distributions while its price fell 9.2%. With every distribution reinvested, the fund returned +7.7%. Nasdaq-100 (QQQ) returned +12.6% over the same days, so a holder was behind by 4.9 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 20.2%, paid monthly. NEOS estimates that 100% of the distribution paid Oct 9, 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 XQQI?: PAPI charges 0.29% a year and XQQI charges 0.98%, so PAPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

PAPI vs TDAQ PAPI vs QLDY PAPI vs BALQ PAPI vs ACQQ XQQI vs YLDE XQQI vs SDVD XQQI vs RDVI XQQI vs YQQQ

Where to next

iShares Russell 1000 Value ETF (IWD) →Nasdaq-100 (QQQ) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →PAPI on its own →XQQI on its own →PAPI dividend history →PAPI holdings →XQQI dividend history →XQQI holdings →Method →Standards and sources →

Sources and dates

PAPI filings on SEC EDGAR ↗

PAPI prospectus with the expense ratio (SEC) ↗

Parametric website ↗

XQQI filings on SEC EDGAR ↗

XQQI prospectus with the expense ratio (SEC) ↗

XQQI 19a-1 distribution notice ↗

NEOS page for XQQI ↗

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

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