PAPI vs UDI
Parametric Equity Premium Income ETF vs USCF Dividend Income Fund
Which is better, PAPI or UDI?
UDI has been ahead.
PAPI has a lower expense ratio. UDI led over 1Y, 3Y and the full window. PAPI is less concentrated, with 7.6% of the fund in its ten largest positions against 31.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PAPI | UDI |
|---|---|---|
| Expense Ratio | 0.29%Best | 0.65% |
| AUM | $512M | $3M |
| Dividend Yield | 7.75% | 2.75% |
| Holdings | 192 | 43 |
| YTD Return | +10.92% | +14.20%Best |
| 1Y Return | +13.47% | +19.52%Best |
| 3Y Return (annualized) | +10.93% | +18.44%Best |
| Volatility (annualized) | 10.6%Best | 11.1% |
| Max Drawdown | -14.3% | -14.2%Best |
| $10,000 over 3 years | $13,650 | $17,001Best |
| Top 10 Weight | 7.6%Best | 31.8% |
| Fund Family | Parametric | USCF Investments |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Oct 16, 2023 | Jun 8, 2022 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 3 years row, are measured over the window both funds cover: Oct 19, 2023 to Oct 14, 2026 (3 years).
PAPI vs UDI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3 years both funds cover.
PAPI vs UDI Performance
Parametric Equity Premium Income ETF (PAPI) is an ETF from Parametric and USCF Dividend Income Fund (UDI) is an ETF from USCF Investments. Over the past year PAPI returned +13.47% while UDI returned +19.52%. Year to date, PAPI is up 10.92% versus a gain of 14.20% for UDI.
Over three years, PAPI compounded at +10.93% per year against +18.44% for UDI.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UDI has been the more volatile fund, with annualized monthly volatility of 11.1% compared with 10.6% for PAPI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -14.3% for PAPI and -14.2% for UDI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PAPI charges 0.29% per year while UDI charges 0.65%. On a $10,000 position that is $29 vs $65 annually, a gap of $36 per year that compounds over a long holding period. On income, PAPI currently yields 7.75% against 2.75% for UDI.
Holdings Overlap
10.2% of PAPI's money is in holdings UDI also owns. 46.5% of UDI's money is in holdings PAPI also owns.
The two portfolios partly overlap.
19 positions in common, counted across the 188 positions we hold weights for in PAPI and 43 in UDI, against full books of 192 and 43.
What only one of them owns
Our book lists 19 positions for UDI that do not appear in our book for PAPI (39.8% of the fund), and 162 for PAPI that do not appear in UDI (85.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in PAPI | Weight in UDI | Difference |
|---|---|---|---|
| JNJJohnson & Johnson - Common | 0.52% | 3.70% | 3.18% |
| ABBVAbbvie Inc. | 0.57% | 3.39% | 2.82% |
| PSXPhillips 66 | 0.70% | 3.24% | 2.54% |
| MDTMedtronic Plc Ordinary Shares | 0.56% | 3.34% | 2.78% |
| COPConocophillips Common Stock USD 0.01 | 0.59% | 2.94% | 2.35% |
| VZVerizon Communic | 0.56% | 2.86% | 2.30% |
| CSCOCisco Systems Inc. - Ordinary Shares | 0.57% | 2.69% | 2.12% |
| GILDGilead Sciences | 0.57% | 2.51% | 1.94% |
| PAYXPaychex, Inc. | 0.53% | 2.40% | 1.87% |
| CMEC M E Group Inc. | 0.56% | 2.32% | 1.76% |
46.5% of UDI is already inside PAPI.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PAPI or UDI?
PAPI has an expense ratio of 0.29% while UDI charges 0.65%. PAPI is the cheaper option, by $36 a year on a $10,000 investment.
Which performed better, PAPI or UDI?
Over the past year PAPI returned +13.47% vs +19.52% for UDI, so UDI leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PAPI or UDI?
UDI has been the more volatile fund at 11.1% annualized versus 10.6% for PAPI. Worst drawdown: PAPI -14.3% vs UDI -14.2%.
Should I hold both PAPI and UDI?
PAPI and UDI have a monthly-return correlation of 0.86, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PAPI and UDI?
46.5% of UDI's money is in holdings PAPI also owns. 46.5% of UDI's is in holdings PAPI also owns. They hold 19 positions in common, counted across the 188 positions we hold weights for in PAPI and 43 in UDI.
Which pays a higher dividend, PAPI or UDI?
PAPI yields 7.75% while UDI yields 2.75%, so PAPI currently pays the higher dividend yield.
Is UDI better than PAPI?
PAPI has a lower expense ratio. UDI led over 1Y, 3Y and the full window. PAPI is less concentrated, with 7.6% of the fund in its ten largest positions against 31.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.