Parametric Equity Plus ETF
$33.70+0.01 (+0.03%)
- 0.10%
- $30M
- +22.1%
- 0.94%
- 0M sh
- $33.69
- low $27.14high $33.74
The ETF.net PEPS Grade
B
Score 63 out of 100
- 20 of 52
Score 63 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A100 out of 100Rank 1 of 52Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F24 out of 100Rank 47 of 52Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D34 out of 100Rank 39 of 52Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A71 out of 100Rank 15 of 41Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C40 out of 100Rank 40 of 52
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
- 203
- 39%
- NVDA
Geography
- United States96.91%
- Ireland0.90%
- Singapore0.62%
- United Kingdom0.56%
- Australia0.46%
- Uruguay0.20%
- Bermuda0.13%
- Cayman Islands0.11%
- 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.
Not enough history yet.Not enough history yet.Not enough history yet.
PEPS$12,213
Returns run to the Oct 12, 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 | +15.4% |
| 1 month | +2.8% |
| 3 months | +3.8% |
| 1 year | +22.1% |
| 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 | +15.4% | |
| 2025 | +20.3% | |
| 2024 | −1.5% |
PEPS in the news
PEPS Dividends
- 0.94%
- $0.32
- $0.09 per share
- Quarterly
Distribution history
PEPS Risk
- 13.0%
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.
- 0.93
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
0.10%
PEPS0.10%
- The middle half of S&P 500 Option Income funds
- Median 0.60%
No S&P 500 Option Income fund charges less.
Other funds in S&P 500 Option Income
- BISPYProShares - S&P 500 High Income ETFExpense ratio 0.56%1 year return +16.4%
- BFTHIFirst Trust BuyWrite Income ETFExpense ratio 0.75%1 year return +12.5%
- BSPYHNEOS S&P 500 Hedged Equity Income ETFExpense ratio 0.68%1 year return +14.3%
- BSPUCSimplify US Equity Income ETFExpense ratio 0.53%1 year return +17.1%
- BTSPYTappAlpha SPY Growth & Daily Income ETFExpense ratio 0.71%1 year return +18.6%