Which is cheaper, PAPI or YSPC?

PAPI charges 0.29% a year and YSPC charges 1.01%, so PAPI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

PAPI vs YSPC: Dividend Yield & Total Return

PAPI and YSPC both write options for income.

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Net assets: $400m on Jun 30, 2026 for Parametric Equity Premium Income ETF, and $42m on Nov 3, 2026 for YieldMax SPCX Option Income Strategy ETF.

PAPI on its own →YSPC on its own →

At a glance

8.2%

PAPI cash paid, 1 year

16.7%

YSPC cash paid, since launch, Jul 15, 2026

+23.4%

PAPI total return, 1 year

−2.1%

YSPC total return, since launch, Jul 15, 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.

YSPC · since launch to Nov 4, 2026 2.6 pts behind SPCX

YSPC

−2.1%

SPCX

+0.5%

2.6 pts behind SPCX

YSPC since launch: paid 16.7%, price −18.2%, total −2.1%, SPCX +0.5%, −2.6 pts. Data to Nov 4, 2026.

SPCX

+0.5%

YSPC

−2.1%

2.6 pts behind SPCX

Total return, distributions reinvested

2.6 pts behind SPCX

YSPC since launch: paid 16.7%, price −18.2%, total −2.1%, SPCX +0.5%, −2.6 pts. Data to Nov 4, 2026.

SPCX

+0.5%

YSPC

−2.1%

2.6 pts behind SPCX

16.7% of it arrived as cash. Both charts share one scale, with zero at the line. YSPC since launch: paid 16.7%, price −18.2%, total −2.1%, SPCX +0.5%, −2.6 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

PAPI costs 0.72 points a year less.

Points (pts) are percentage points.

PAPI vs YSPC: Dividend Yield & Total Return
Measure	PAPI	YSPC
Paid and earned
Measure	PAPI	YSPC
Total return, 1 year	+23.4%	not published
Price change	rose 14.3% (1 year)	fell 18.2% (since Jul 15, 2026)
Against its benchmark
Measure	PAPI	YSPC
Benchmark	iShares Russell 1000 Value ETF, measured through IWD	Space Exploration Technologies (SPCX)
Cost and size
Measure	PAPI	YSPC
Expense ratio	0.29%	1.01%
Net assets, PAPI as of Jun 30, 2026 and YSPC as of Nov 3, 2026	$400m	$42m
Holdings
Measure	PAPI	YSPC
Holdings in common	0%

Method

What they share

By the books each fund has filed, PAPI and YSPC hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 4, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first PAPI YSPC

Only in one fund ↓

Only in PAPI

Corning, Inc. 1.00%

TD SYNNEX Corp. 0.80%

Cisco Systems, Inc. 0.76%

Power Integrations, Inc. 0.73%

Royalty Pharma plc 0.72%

Millicom International Cellular SA 0.72%

Avnet, Inc. 0.70%

Texas Instruments, Inc. 0.70%

Only in YSPC

United States Treasury Note/Bond 2.375% 05/15/2027 29.45%

United States Treasury Note/Bond 3.375% 09/15/2027 13.87%

SPCX 11/20/2026 165.01 C 0.32%

SPCX US 11/06/26 C145 0.13%

SPCX US 11/06/26 C146 0.11%

SPCX US 11/06/26 C141 -0.11%

SPCX US 11/06/26 C140 -0.72%

SPCX 11/20/2026 165.01 P -21.73%

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 YSPC YieldMax SPCX Option Income Strategy ETF · Synthetic covered call on SPCX, paying weekly

Issuer Parametric YieldMax

Strategy covered call synthetic covered call

Benchmark iShares Russell 1000 Value ETF (IWD) Space Exploration Technologies (SPCX)

Pays monthly weekly

Payout rate, annualized 6.8% 60.1%

Expense ratio 0.29% 1.01%

Cash paid, 1 year 8.2% 16.7% (since launch, Jul 15, 2026)

Price change, 1 year +14.3% −18.2% (since launch, Jul 15, 2026)

Total return, 1 year +23.4% −2.1% (since launch, Jul 15, 2026)

Benchmark return, 1 year +32.8% +0.5% (since launch, Jul 15, 2026)

Ahead or behind −9.4 pts −2.6 pts (since launch, Jul 15, 2026)

Return of capital, latest estimate not published not published

Age 3.0 years 112 days

Net assets, PAPI as of Jun 30, 2026 and YSPC as of Nov 3, 2026 $400m $42m

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 YSPC: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	PAPI	YSPC	PAPI	YSPC	PAPI	YSPC
3 months	+6.6%	+11.7%	1.8%	18.2%	+2.6 pts	−13.8 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 · YSPC Jul 2026	+45.5%	−2.1%	23.9%	16.7%	−42.4 pts	−2.5 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.

YSPC

Over the period from its first trade on Jul 15, 2026 to Nov 4, 2026, YSPC paid 16.7% of its starting value in cash distributions while its price fell 18.2%. With every distribution reinvested, the fund returned −2.1%. Space Exploration Technologies (SPCX) returned +0.5% over the same days, so a holder was behind by 2.6 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 60.1%, paid weekly.

Questions people ask

Which is cheaper, PAPI or YSPC?: PAPI charges 0.29% a year and YSPC charges 1.01%, so PAPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

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

Sources and dates

PAPI filings on SEC EDGAR ↗

PAPI prospectus with the expense ratio (SEC) ↗

Parametric website ↗

YSPC filings on SEC EDGAR ↗

YSPC prospectus with the expense ratio (SEC) ↗

YSPC 19a-1 distribution notice ↗

YieldMax page for YSPC ↗

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

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