Parametric Equity Premium Income ETF
PAPI
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 800 Fifth Avenue, Suite 2800 Seattle WA United States of America 98104
- IPO Date
- Oct 19, 2023
- Website
- eatonvance.com
- Similar Companies
- Business
- Parametric Equity Premium Income ETF (PAPI) is an actively managed exchange-traded fund that seeks to provide consistent monthly income while maintaining prospects for capital appreciation through a rules-based combination of diversified U.S. dividend-paying equities and an options overwriting strategy. The fund invests primarily in approximately 200 equally weighted holdings selected from a broad universe of U.S. equities using dividend yield, risk rankings, and sector-neutral diversification across sectors such as financials, utilities, consumer staples, energy, and others; it supplements this equity portfolio with proprietary laddered short calls on the SPDR S&P 500 ETF (SPY) featuring staggered 2-week expirations to generate premium income, enhance yield, reduce volatility, and improve diversification. PAPI emphasizes tax efficiency through active tax-loss harvesting and qualified dividends, with an expense ratio of 0.29%, and trades on the NYSE Arca exchange. Launched on October 16, 2023, and domiciled in the United States, the ETF is advised by Morgan Stanley Investment Management Inc. and sub-advised by Parametric Portfolio Associates LLC, a Seattle-based firm that is part of Morgan Stanley's asset management division with extensive experience managing over $266 billion in equity-based portfolios and $17 billion in options strategies. The fund targets income-focused investors seeking dual income sources from equity dividends and options premiums alongside U.S. equity market exposure, with no significant international operations. Recent developments include the addition of Gordon Wotherspoon as a portfolio manager effective April 7, 2025, bolstering the experienced team led by Alex Zweber. In December 2025, Parametric announced strategic partnerships with Harding Loevner and Schafer Cullen Capital Management, expanding its Custom Active platform with over 16 new active equity strategies year-to-date, including integrations from Morgan Stanley's Applied Equity Advisors, to enhance tax-optimized offerings for investors. These alliances reflect Parametric's ongoing focus on innovative portfolio solutions amid volatile market conditions.