Key stats
About Parametric Equity Premium Income ETF
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Inception date
Oct 16, 2023
Structure
Open-Ended Fund
Replication method
Physical
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Morgan Stanley Investment Management, Inc.
Distributor
Foreside Fund Services LLC
ISIN
US61774R8667
PAPI primarily invests in an equity portfolio of durable dividend payers selected from the Russell 3000 Index using a proprietary investment process that considers 12-month yield and risk level. The fund attempts to achieve broad diversification by weighting all sectors equally and then assigning equal weights to the top-ranking stocks within each sector. In an attempt to generate incremental income, PAPI systematically writes short-dated (2-week) out-of-the-money call options in tranches, with expirations staggered every 3 to 4 days. The call options, which may include FLEX options, are written on the underlying ETF (SPY) or the S&P 500 Index. The fund earns some premium from writing calls, but this caps the funds upside potential. PAPI may incorporate tax loss harvesting within the long equity portfolio to maximize realization of losses. Investors should note that naked call writing, or selling call options without owning the underlying asset, is a high-risk options strategy.
Related funds
Classification
What's in the fund
Exposure type
Finance
Stock breakdown by region
Top 10 holdings
Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
PAPI trades at 26.24 USD today, its price has fallen −0.44% in the past 24 hours. Track more dynamics on PAPI price chart.
PAPI net asset value is 26.21 today — it's risen 3.05% over the past month. NAV represents the total value of the fund's assets less liabilities and serves as a gauge of the fund's performance.
PAPI assets under management is 249.56 M USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
PAPI price has risen by 4.81% over the last month, and its yearly performance shows a −3.83% decrease. See more dynamics on PAPI price chart.
NAV returns, another gauge of an ETF dynamics, showed a 6.03% increase in three-month performance and has increased by 5.08% in a year.
NAV returns, another gauge of an ETF dynamics, showed a 6.03% increase in three-month performance and has increased by 5.08% in a year.
PAPI fund flows account for 188.30 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
PAPI invests in stocks. See more details in our Analysis section.
PAPI expense ratio is 0.29%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
No, PAPI isn't leveraged, meaning it doesn't use borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
In some ways, ETFs are safe investments, but in a broader sense, they're not safer than any other asset, so it's crucial to analyze a fund before investing. But if your research gives a vague answer, you can always refer to technical analysis.
Today, PAPI technical analysis shows the buy rating and its 1-week rating is buy. Since market conditions are prone to changes, it's worth looking a bit further into the future — according to the 1-month rating PAPI shows the buy signal. See more of PAPI technicals for a more comprehensive analysis.
Today, PAPI technical analysis shows the buy rating and its 1-week rating is buy. Since market conditions are prone to changes, it's worth looking a bit further into the future — according to the 1-month rating PAPI shows the buy signal. See more of PAPI technicals for a more comprehensive analysis.
Yes, PAPI pays dividends to its holders with the dividend yield of 7.22%.
PAPI trades at a premium (0.10%).
Premium/discount to NAV expresses the difference between the ETF’s price and its NAV value. A positive percentage indicates a premium, meaning the ETF trades at a higher price than the calculated NAV. Conversely, a negative percentage indicates a discount, suggesting the ETF trades at a lower price than NAV.
Premium/discount to NAV expresses the difference between the ETF’s price and its NAV value. A positive percentage indicates a premium, meaning the ETF trades at a higher price than the calculated NAV. Conversely, a negative percentage indicates a discount, suggesting the ETF trades at a lower price than NAV.
PAPI shares are issued by Morgan Stanley
PAPI follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Oct 16, 2023.
The fund's management style is active, aiming to outperform its benchmark index by actively selecting and adjusting assets. The goal is to achieve returns that exceed those of the index the fund tracks.