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Launched · SEC filings

Parametric Equity Plus ETF

PEPSNasdaqEaton VanceB

$32.35−0.25 (−0.76%)

At close: Nov 2, 2026, 4:00 PM ET

B63/ 100

Rank 20 of 52 in S&P 500 Option Income

B63/100Rank 20 of 52inS&P 500 Option Income
Intraday session: down, 79 prints from 32.60 to 32.35. Range 32.35 to 32.91. Use the arrow keys to read each point.32.5032.7032.8032.9010 AM12 PM2 PM4 PM
Expense ratio
0.10%*
Fund size
$29M
1Y total return
+11.7%
Yield · Last 12 months
0.97%
Holdings
203
Avg volume · 30D
364 sh
52W range
low $27.14high $33.75
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Feb 1, 2027. Without it: 0.29%.

The ETF.net PEPS Grade

Based on 5 of 6 pillars

B

Score 63 out of 100

Category
S&P 500 Option Income⁠
Rank
20 of 52
Six-pillar profile for PEPS. Scores out of 100: Cost 100, Risk 24, Mission not scored, Tradability 31, Holdings 74, Durability 39. Strongest: Cost (100). Weakest: Risk (24). Based on 5 of 6 pillars.

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 100
    Rank 1 of 52

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F24 out of 100
    Rank 48 of 52

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D31 out of 100
    Rank 42 of 52

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A74 out of 100
    Rank 11 of 41

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D39 out of 100
    Rank 41 of 52

Our read on PEPS

ETF.net Research

In short

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.

Stated mandate

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

Holdings pillarA74 out of 100Rank 11 of 41 in S&P 500 Option Income
Asset class
Stocks
Holdings
203
Top-10 weight
39%
Largest holding
AAPL7.5%

Geography

  • United States99.32%
  • China0.38%
  • Brazil0.18%
  • Switzerland0.09%
  • Finland0.03%
The fund’s holdings, weight-ordered — page 1 of 14.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1AAPLApple Inc Common Stock7.48%6,362$2.19M723
2NVDANVIDIA Corp Common Stock6.80%9,748$1.99M848
3MSFTMicrosoft Corp Common5.70%3,201$1.67M819
4No dataMsilf Government4.01%1,175,409$1.18M17
5AMZNAmazon.com Inc Common3.42%4,174$1M738
6GOOGLAlphabet Inc-Cl A -2.42%2,533$709K707
7AVGOBroadcom Inc Common Stock2.40%2,160$704K753
8GOOGAlphabet Inc-Cl C -2.16%2,273$632K480
9LLYEli Lilly and Company2.09%433$614K593
10METAMeta Platforms Inc Common2.04%972$598K708
11TSLATesla Inc Common Stock1.85%1,354$541K528
12MUMicron Technology Inc1.84%610$540K686
13AMDAdvanced Micro Devices1.65%957$483K638
14JPMJPMorgan Chase & Co1.64%1,426$481K487
15XOMExxonmobil Holdings Corp1.54%2,409$451K525

Showing 1–15 of 203 holdings

PEPS Performance

Launched Nov 7, 2024

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$11,169
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. PEPS $11,169. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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.

Trailing total return for PEPS. Periods over one year show the average yearly return.
PeriodPEPS
Year to date+11.7%
1 month−0.9%
3 months+1.0%
1 year+11.7%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for PEPS
YearReturn barPEPS
2026 YTD+11.7%
2025+20.3%
2024−1.5%

History from Nov 8, 2024

PEPS in the news

PEPS Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
0.97%Last 12 months
Payout per share
$0.32Last 12 months
Last payment
$0.09 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2024–2026

One bar per payment. 8 payments from 2024 to 2026 YTD. Dec 23, 2024 $0.04; Mar 24, 2025 $0.07; Jun 23, 2025 $0.06; Sep 22, 2025 $0.07; Dec 23, 2025 $0.10; Mar 23, 2026 $0.06; Jun 22, 2026 $0.08; Sep 21, 2026 $0.09. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Sep 21, 2026Sep 25, 2026$0.09
Jun 22, 2026Jun 26, 2026$0.08
Mar 23, 2026Mar 27, 2026$0.06
Dec 23, 2025Dec 30, 2025$0.10
Sep 22, 2025Sep 26, 2025$0.07
Jun 23, 2025Jun 27, 2025$0.06
Mar 24, 2025Mar 28, 2025$0.07
Dec 23, 2024Dec 27, 2024$0.04

$10,000 in PEPS 1 year ago paid $108 in dividends.

PEPS Risk

Risk pillarF24 out of 100Rank 48 of 52 in S&P 500 Option Income
How much the fund’s monthly returns vary, scaled to a year.
12.9%
Annualised · 23 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
0.85
vs 3-month T-bills · 23 months to Oct 2026
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.

The largest fall from a peak to the low that followed.
−21.3%
23 months · trough Apr 2025
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.

How strongly the fund’s returns move with its asset-class index.
1.02
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

PEPS Cost

Cheapest in S&P 500 Option Income

$2,106

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PEPS 0.10%

    $2,106

$10,000
30 years

Cost over time

  • PEPS 0.10%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$500$1K$1.5K$2K$2.5K051015202530PEPS $2,106

Year by year

YearPEPS
10$183
20$717
30$2,106
How the 0.10% is worked out

Full fee 0.29%− waiver 0.19%= you pay 0.10%

The waiver ends Feb 1, 2027. After that the fee is 0.29% unless Eaton Vance renews it. Source: prospectus, Feb 2026.

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