Parametric Equity Plus ETF
$33.09−0.14 (−0.43%)
- Expense ratio
- 0.10%
- Fund size
- $30M
- 1Y return
- +18.1%
- Yield · Last 12 months
- 0.96%
- Volume · 30D
- 0M sh
- NAV per share
- $33.21
- 52W range
The ETF.net PEPS Grade
Score 63 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.AScore 100Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 27Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 35Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 67Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.DScore 38Category rank
Our read on PEPS
BActive management at index-fund pricing. PEPS holds a U.S. large-cap base, then writes S&P 500 calls against offsetting long exposure: a beta-neutral overlay built to add return rather than swap upside for income.
The Fund seeks long-term capital appreciation. It is actively managed, using a U.S. large-cap equity base and beta-neutral call overwriting on the S&P 500 with offsetting long exposure to seek incremental total return.
Why people hold it
- 0.10% is index-fund pricing for an actively managed strategy. Even the cheap, well-regarded active peers cost more: DFAU at 0.12%, FELC at 0.18%.
- Not a covered-call fund. The sold S&P 500 calls are paired with offsetting long exposure, so the overlay seeks incremental total return instead of capping upside.
- Ordinary 1940 Act ETF wrapper, U.S. large-cap equity, distributions paid quarterly. The complexity lives in the overlay, not the tax paperwork.
- Cost is the standout: the typical active U.S. equity ETF in this group charges several times what PEPS does, and fee drag is the one input you know in advance.
Worth knowing
- Launched in November 2024. The overlay has not yet run through a full market cycle, so there is limited history to judge it on.
- A small, thinly traded fund. Bid-ask spreads can run wider than a mega-cap index ETF's, which shows up most on larger orders.
- The options leg adds moving parts: short index calls lose value in a sharp rally, and the offsetting long exposure is what has to make that back.
PEPS Holdings
- Stocks
- —
- 39%
- NVDA
Geography
- United States96.87%
- Ireland0.90%
- Singapore0.72%
- United Kingdom0.54%
- Australia0.44%
- Uruguay0.19%
- Bermuda0.13%
- Cayman Islands0.10%
- 0.11%
PEPS Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | PEPS |
|---|---|
| Year to date | +13.9% |
| 1 month | +1.7% |
| 3 months | +4.1% |
| 1 year | +18.1% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | PEPS |
|---|---|---|
| 2026 YTD | +13.9% | |
| 2025 | +20.3% | |
| 2024 | −1.5% |
PEPS in the news
ETF.net Research hasn’t filed on PEPS yet — coverage lands here as it’s written.
PEPS Dividends
- 0.96%
- $0.32
- $0.09 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 21, 2026 | Pays Sep 25, 2026 | $0.09 |
| Jun 22, 2026 | Jun 26, 2026 | $0.08 |
| Mar 23, 2026 | Mar 27, 2026 | $0.06 |
| Dec 23, 2025 | Dec 30, 2025 | $0.10 |
| Sep 22, 2025 | Sep 26, 2025 | $0.07 |
| Jun 23, 2025 | Jun 27, 2025 | $0.06 |
| Mar 24, 2025 | Mar 28, 2025 | $0.07 |
| Dec 23, 2024 | Dec 27, 2024 | $0.04 |
PEPS Risk
- 13.4%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.94
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −21.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.02
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PEPS Cost
- The middle half of S&P 500 Option Income funds
- Median 0.60%
No S&P 500 Option Income fund charges less.