Data as of Nov 4, 2026.
PAPI vs YLDE: Dividend Yield & Total Return
Over the year to Nov 4, 2026, PAPI paid 8.2% of its price in cash against YLDE’s 7.9%, and returned more with it reinvested.
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Net assets: $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF, and $186m on Nov 3, 2026 for Franklin ClearBridge Enhanced Income ETF.
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, 2026.4.2 pts ahead of IWV
YLDE over 1 year: paid 7.9%, price +10.5%, total +19.0%, IWV +14.8%, +4.2 pts. Data to Nov 4, 2026.
IWV
+14.8%
YLDE
+19.0%
7.9% as cash
4.2 pts ahead of IWV
Total return, distributions reinvested
4.2 pts ahead of IWV
YLDE over 1 year: paid 7.9%, price +10.5%, total +19.0%, IWV +14.8%, +4.2 pts. Data to Nov 4, 2026.
IWV
+14.8%
YLDE
+19.0%
4.2 pts ahead of IWV
7.9% of it arrived as cash. Both charts share one scale, 0 to +32.8%. YLDE over 1 year: paid 7.9%, price +10.5%, total +19.0%, IWV +14.8%, +4.2 pts. Data to Nov 4, 2026.
Both charts share one scale, 0 to +32.8%. Data to Nov 4, 2026.Pair scorecard
PAPI costs 0.19 points a year less; their one-year returns differ by 4.4 points.
Points (pts) are percentage points.
| Measure | PAPI | YLDE |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +23.4% | +19.0% |
| Price change, 1 year | rose 14.3% | rose 10.5% |
| Against its benchmark | ||
| Benchmark | iShares Russell 1000 Value ETF, measured through IWD | iShares Russell 3000 ETF, measured through IWV |
| Cost and size | ||
| Expense ratio | 0.29% | 0.48% |
| Net assets, PAPI as of Jun 30, 2026 and YLDE as of Nov 3, 2026 | $400m | $186m |
| Holdings | ||
| Holdings in common | 8% | |
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
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 →
Risk and return
Oct 27, 2023 to Oct 30, 2026 · 157 weekly returnsEach against its own benchmark: PAPI against IWD, Oct 27, 2023 to Oct 30, 2026; YLDE against IWV, Jun 2, 2017 to Oct 30, 2026.
From Oct 2023 to Oct 2026, YLDE returned more: +67.2% to +46.8%. PAPI and YLDE swung about the same: 10.8% and 10.7%. YLDE fell slightly less at its worst: −9.9% to −10.6%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | PAPI | YLDE | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +46.8% | +67.2% | YLDE | Price change plus distributions, reinvested. |
| Annualized | +13.6% | +18.6% | YLDE | Total return as a yearly rate. |
| Price return | +17.5% | +46.2% | YLDE | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 10.8% | 10.7% | Tie | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 7.7% | 6.8% | YLDE | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −10.6% | −9.9% | YLDE (slight) | Deepest fall from a high to the low after it. |
| Upside capture | 61.0% | 61.1% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 82.0% | 75.6% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.69 | 0.76 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.60 | 0.79 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.82 | 1.24 | YLDE | Return above Treasury bills per unit of volatility. |
| Sortino | 1.16 | 1.92 | YLDE | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.129 | 0.128 | Return above Treasury bills per unit of beta. | |
| Calmar | 1.28 | 1.87 | YLDE | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | IWD | IWV | The ETF each fund is measured against. | |
| Alpha | −3.2% a year | +0.7% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.80 | 0.29 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −11.2% to +4.7% | −3.9% to +5.2% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −1.11 | −0.27 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 7.8% | 8.3% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 157 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, PAPI and YLDE hold 8% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026.
half
8% in common
Only in one fund ↓
Side by side
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
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | PAPI | YLDE | PAPI | YLDE | PAPI | YLDE |
| 3 months | +6.6% | +3.2% | 1.8% | 1.6% | +2.6 pts | +3.6 pts |
| 6 months | +13.2% | +8.6% | 3.9% | 4.0% | −0.7 pts | +3.7 pts |
| 1 year | +23.4% | +19.0% | 8.2% | 7.9% | −9.4 pts | +4.2 pts |
| 3 years | +44.5% | +61.5% | 23.7% | 18.0% | −39.8 pts | −19.5 pts |
| Since launchNot the same days: PAPI Oct 2023 · YLDE May 2017 | +45.5% | +197.5% | 23.9% | 44.5% | −42.4 pts | −52.9 pts |
Client brief:
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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.
YLDE
Over the year to Nov 4, 2026, YLDE paid 7.9% of its starting value in cash distributions while its price rose 10.5%. With every distribution reinvested, the fund returned +19.0%. iShares Russell 3000 ETF (IWV) returned +14.8% over the same days, so a holder was ahead by 4.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 6.3%, paid monthly. Franklin estimates that 67% of the distribution paid Apr 6, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
Questions people ask
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.
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ETFIQ, PAPI against YLDE, data as of Nov 4, 2026. https://etfiq.com/compare/income/papi-vs-ylde
ETFIQ. (Nov 4, 2026). PAPI against YLDE. Retrieved from https://etfiq.com/compare/income/papi-vs-ylde
[PAPI against YLDE (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/papi-vs-ylde)
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