PAPI vs SPY

APAPI

BSPY

Measures won3–2PAPI wins · of 6 · 5Y

$10,000 · 5Y$17,099SPY · DGRO $16,941

Lowest cost0.06%SCHD · $6 on $10k

Most income7.31%PAPI · $731 on $10k

Smallest drop−6.5%DGRO · worst fall in 1Y

Held in common17.3%PAPI and SPY

PAPI

SPY

Parametric Equity Premium Income ETF · $561MState Street SPDR S&P 500 ETF · $819B

+13.3%3 years · per year$14,556 · $18,174+22.0%

[…]5 years · per year[…] · $17,099+11.3%

0.29%Expense ratio$29 · $9 on $10k · lower wins0.09%

7.31%12-mo yield$731 · $103 on $10k1.03%

−6.9%Worst dropSmaller wins−8.9%

10.4%VolatilityLower wins13.6%

3–2PAPI wins

$10,000 · 5 yearsAll four, one scale

Shared top holdingsPAPI · SPY

0.5%MSFT6.2%

0.6%HD0.5%

0.5%ABBV0.8%

0.5%COST0.7%

Held in common17.3%

End-of-day Nov 5, 2026 · $10,000 5 years ago, dividends reinvested · ● winner of the row · each row scaled to the bigger of the two

All Four

5Y4 funds

#
1	BSPY	State Street SPDR S&P 500 ETFRead Desk	0.09%	1.03%	−4.4%	+8.3%	+9.7%	+22.0%	+11.3%	−8.9%	$818.5B
2	DGRO	iShares Core Dividend Growth ETFRead Desk	0.08%	1.86%	−2.8%	+17.2%	+21.2%	+21.1%	+11.1%	−6.5%	$44.9B
3	SCHD	Schwab U.S. Dividend Equity ETFRead Desk	0.06%	2.98%	−2.2%	+32.3%	+38.7%	+20.3%	+10.4%	−6.9%	$120.5B
4	APAPI	Parametric Equity Premium Income ETFRead Desk	0.29%	7.31%	−1.7%	+17.3%	+21.3%	+13.3%	new	−6.9%	$561M

End-of-day Nov 5, 2026 · total return, dividends in · 3Y and 5Y per year · A and B = the pair in versus

All Four

5Y4 funds

#
1	BSPY	State Street SPDR S&P 500 ETFRead Desk	0.09%	1.03%	−4.4%	+8.3%	+9.7%	+22.0%	+11.3%	−8.9%	$818.5B
2	DGRO	iShares Core Dividend Growth ETFRead Desk	0.08%	1.86%	−2.8%	+17.2%	+21.2%	+21.1%	+11.1%	−6.5%	$44.9B
3	SCHD	Schwab U.S. Dividend Equity ETFRead Desk	0.06%	2.98%	−2.2%	+32.3%	+38.7%	+20.3%	+10.4%	−6.9%	$120.5B
4	APAPI	Parametric Equity Premium Income ETFRead Desk	0.29%	7.31%	−1.7%	+17.3%	+21.3%	+13.3%	new	−6.9%	$561M

End-of-day Nov 5, 2026 · total return, dividends in · 3Y and 5Y per year · A and B = the pair in versus

Cards for this view

PAPI vs SPY

PAPI

Parametric Equity Premium Income

[…]

SPY

SPDR S&P 500

$17,099

MeasurePAPISPY

Fee0.29%0.09%

Cost on $10k a year$29$9

Yield7.31%1.03%

5 years, per year[…]+11.3%

3 years, per year+13.3%+22.0%

Worst drop · 1Y−6.9%−8.9%

Volatility · 1Y10.4%13.6%

3–2measures won
PAPI first

17.3%

holdings shared

Nov 5, 2026 · $10,000 five years ago, dividends reinvested

SCHD vs VIG

YTD

SchwabSCHD

+32.3%

VIGVanguard

+12.5%

+32.3%Year to date+12.5%

3.0%Yield1.5%

$120BAssets$109B

2–0SCHD wins

End-of-day Nov 5, 2026

SPYM vs SPY

YTD

SPDRSPYM

+8.4%

SPYSPDR

+8.3%

+8.4%Year to date+8.3%

1.1%Yield1.0%

$182BAssets$819B

2–0SPYM wins

End-of-day Nov 5, 2026

DGRO vs VIG

YTD

iSharesDGRO

+17.2%

VIGVanguard

+12.5%

+17.2%Year to date+12.5%

1.9%Yield1.5%

$44.9BAssets$109B

2–0DGRO wins

End-of-day Nov 5, 2026

Overlap: PAPI, SCHD, SPY, DGRO

Today

43.8%most shared, SPY and DGRO

PAPISCHDSPYDGRO

PAPI—17.4%17.3%21.6%

SCHD17.4%—8.5%21.1%

SPY17.3%8.5%—43.8%

DGRO21.6%21.1%43.8%—

End-of-day Nov 5, 2026 · share held in common · outlined: the pair in versus

Income After Fees on $10,000

$702most kept, PAPI

PAPI$731 − $29 = $702

SCHD$298 − $6 = $292

DGRO$186 − $8 = $178

SPY$103 − $9 = $94

KeptFee

End-of-day Nov 5, 2026 · yield in dollars minus the fee