OEI vs PAYR

OEICOptimized Equity Income ETF

PAYRAFederated Hermes Enhanced Income ETF

In short

OEI Most equity-income funds lead with yield. OEI inverts it: capital appreciation is the stated goal and income the secondary one, with S&P 500 index puts sitting under a roughly 80-stock large-cap book.

PAYR —No data

Stated mandate

OEI The Fund seeks long-term capital appreciation, with current income as a secondary consideration. It invests at least 80% of net assets in equity securities and generally expects approximately 90% in them.

PAYR —No data

Why people hold it

• OEI Hedged-equity DNA: the book has paired dividend-paying stocks and REITs with purchased S&P 500 index puts and written options, not just a plain covered-call sleeve.sec.govsec.gov 2
• The prospectus puts long-term capital appreciation first and current income second, with at least 80% of net assets in equities and roughly 90% expected.sec.gov
• Actively run with no index to follow, so the managers can dial the overlay up or down; it lands in the upper half of a crowded options-income field.sec.gov
• Pays monthly, drawing on dividends from a concentrated large-cap book plus premium from the written options.

PAYR —No data

Worth knowing

• OEI At 1.02% (gross and net, no waiver), it sits above the category median and well above cheaper peers such as RECI at 0.30%.
• Launched October 2025, thinly traded, and registered as non-diversified, so spreads can be wide and single positions can carry more weight.sec.gov
• Written calls trim upside in strong rallies and long puts cost premium; the hedge is partial and sized by the manager, not a floor.sec.govsec.gov 2

PAYR —No data

Full OEI profile⁠

Full PAYR profile⁠