Which paid more, PAPI or XRMI?

Over the year to Nov 4, 2026, PAPI paid 8.2% of its starting price in cash and XRMI paid 11.9%, so XRMI 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 XRMI?

With every distribution reinvested, PAPI returned +23.4% and XRMI +8.7% over the year to Nov 4, 2026.

Which is cheaper, PAPI or XRMI?

PAPI charges 0.29% a year and XRMI charges 0.60%, so PAPI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

PAPI vs XRMI: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, XRMI paid 11.9% of its price in cash against PAPI’s 8.2%, though PAPI returned more with it reinvested.

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Net assets: $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF, and $62m on Oct 12, 2026 for Global X S&P 500 Risk Managed Income ETF.

PAPI on its own →XRMI on its own →

At a glance

8.2%

PAPI cash paid, 1 year

11.9%

XRMI cash paid, 1 year

+23.4%

PAPI total return, 1 year

+8.7%

XRMI total return, 1 year

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.

XRMI · 1 year to Nov 4, 2026 6.1 pts behind SPY

XRMI

+8.7%

SPY

+14.8%

6.1 pts behind SPY

XRMI over 1 year: paid 11.9%, price −3.8%, total +8.7%, SPY +14.8%, −6.1 pts. Data to Nov 4, 2026.

SPY

+14.8%

XRMI

+8.7%

11.9% as cash

6.1 pts behind SPY

Total return, distributions reinvested

6.1 pts behind SPY

XRMI over 1 year: paid 11.9%, price −3.8%, total +8.7%, SPY +14.8%, −6.1 pts. Data to Nov 4, 2026.

SPY

+14.8%

XRMI

+8.7%

6.1 pts behind SPY

11.9% of it arrived as cash. Both charts share one scale, with zero at the line. XRMI over 1 year: paid 11.9%, price −3.8%, total +8.7%, SPY +14.8%, −6.1 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

PAPI costs 0.31 points a year less; their one-year returns differ by 14.7 points.

Points (pts) are percentage points.

PAPI vs XRMI: Dividend Yield & Total Return
Measure	PAPI	XRMI
Paid and earned
Measure	PAPI	XRMI
Total return, 1 year	+23.4%	+8.7%
Price change, 1 year	rose 14.3%	fell 3.8%
Return of capital, issuer estimate		95% of the Sep 24, 2026 payment
Against its benchmark
Measure	PAPI	XRMI
Benchmark	iShares Russell 1000 Value ETF, measured through IWD	S&P 500, measured through SPY
Cost and size
Measure	PAPI	XRMI
Expense ratio	0.29%	0.60%
Net assets, PAPI as of Jun 30, 2026 and XRMI as of Oct 12, 2026	$400m	$62m
Holdings
Measure	PAPI	XRMI
Holdings in common	16%

ETFIQ Distribution Coverage Score · PAPI scores higher How much of what it paid out did its total return cover?

IQ Income Score96.1PAPI45.2XRMI

How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed

PAPI 96.1

XRMI 45.2

0.3, the lowest in this set 99.7, the highest

One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →

Method

What they share

16%

By the books each fund has filed, PAPI and XRMI hold 16% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.

50%

0 half 100%

half

16% in common

Positions both hold · largest shared weight first PAPI XRMI

Cisco Systems, Inc. 0.76% 0.72%

AbbVie, Inc. 0.64% 0.70%

Alphabet, Inc. 0.59% 3.28%

Johnson & Johnson 0.56% 0.97%

Coca-Cola Co. (The) 0.56% 0.53%

Home Depot, Inc. (The) 0.54% 0.52%

Merck & Co., Inc. 0.59% 0.51%

Procter & Gamble Co. (The) 0.49% 0.53%

Costco Wholesale Corp. 0.48% 0.66%

RTX Corp. 0.51% 0.45%

Chevron Corp. 0.45% 0.58%

Texas Instruments, Inc. 0.70% 0.39%

Only in one fund ↓

Only in PAPI

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%

Reynolds Consumer Products, Inc. 0.68%

MSC Industrial Direct Co., Inc. 0.66%

Wendy's Co. (The) 0.63%

Only in XRMI

NVIDIA CORPORATION 7.63%

APPLE INC. 7.12%

AMAZON.COM, INC. 4.17%

BROADCOM INC. 2.89%

ALPHABET INC. 2.64%

META PLATFORMS, INC. 1.92%

JPMORGAN CHASE & CO. 1.48%

BERKSHIRE HATHAWAY INC. 1.47%

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 XRMI Global X S&P 500 Risk Managed Income ETF · Option income on SPY, paying monthly

Issuer Parametric Global X

Strategy covered call option income

Benchmark iShares Russell 1000 Value ETF (IWD) S&P 500 (SPY)

Pays monthly monthly

Payout rate, annualized 6.8% 10.6%

Expense ratio 0.29% 0.60%

Cash paid, 1 year 8.2% 11.9%

Price change, 1 year +14.3% −3.8%

Total return, 1 year +23.4% +8.7%

Benchmark return, 1 year +32.8% +14.8%

Ahead or behind −9.4 pts −6.1 pts

Return of capital, latest estimate not published 95%

Age 3.0 years 5.2 years

Net assets, PAPI as of Jun 30, 2026 and XRMI as of Oct 12, 2026 $400m $62m

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 XRMI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	PAPI	XRMI	PAPI	XRMI	PAPI	XRMI
3 months	+6.6%	+1.6%	1.8%	2.9%	+2.6 pts	+1.8 pts
6 months	+13.2%	+5.4%	3.9%	6.0%	−0.7 pts	+0.4 pts
1 year	+23.4%	+8.7%	8.2%	11.9%	−9.4 pts	−6.1 pts
3 years	+44.5%	+30.8%	23.7%	35.1%	−39.8 pts	−52.2 pts
Since launchNot the same days: PAPI Oct 2023 · XRMI Aug 2021	+45.5%	+17.6%	23.9%	45.0%	−42.4 pts	−66.7 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.

XRMI

Over the year to Nov 4, 2026, XRMI paid 11.9% of its starting value in cash distributions while its price fell 3.8%. With every distribution reinvested, the fund returned +8.7%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 6.1 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 10.6%, paid monthly. Global X estimates that 95% of the distribution paid Sep 24, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

Questions people ask

Which paid more, PAPI or XRMI?: Over the year to Nov 4, 2026, PAPI paid 8.2% of its starting price in cash and XRMI paid 11.9%, so XRMI 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 XRMI?: With every distribution reinvested, PAPI returned +23.4% and XRMI +8.7% over the year to Nov 4, 2026.
Which is cheaper, PAPI or XRMI?: PAPI charges 0.29% a year and XRMI charges 0.60%, so PAPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

PAPI vs ACSP PAPI vs WDTE PAPI vs XYLG PAPI vs SPIN XRMI vs CDPI XRMI vs YLDE XRMI vs SDVD XRMI vs VAIE

Where to next

iShares Russell 1000 Value ETF (IWD) →S&P 500 (SPY) →PAPI on its own →XRMI on its own →PAPI dividend history →PAPI holdings →XRMI dividend history →XRMI holdings →Method →Standards and sources →

Sources and dates

PAPI filings on SEC EDGAR ↗

PAPI prospectus with the expense ratio (SEC) ↗

Parametric website ↗

XRMI filings on SEC EDGAR ↗

XRMI prospectus with the expense ratio (SEC) ↗

XRMI 19a-1 distribution notice ↗

Global X page for XRMI ↗

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

How this is computed

It is a place in a set, not a rating or a recommendation.

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

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