PAYR vs RDVI: Grades, Fees and Holdings Compared

Federated Hermes Enhanced Income ETF

PAYRACboe

FT Vest Rising Dividend Achievers Target Income ETF

RDVIACboe

Overlap

5.0%by weight

Expense ratio

PAYR −0.35pt a year

PAYR0.40%RDVI0.75%

Avg volume · 30D

RDVI 64.9×the volume

PAYR18.1KRDVI1.17M

PAYR vs RDVI Performance

Oct 31, 2025 – Oct 30, 2026

+25.2%PAYR+18.8%RDVI

Expense ratio: PAYR 0.40%, better; RDVI 0.75%
Fund size: PAYR $91M; RDVI $3.82B
1Y total return: PAYR +25.2%, better; RDVI +18.8%
Yield (12M): PAYR No data; RDVI 8.29%
Holdings: PAYR 58; RDVI 73
Avg volume (30D): PAYR 18.1K sh; RDVI 1.17M sh, better
NAV per share: PAYR $56.43; RDVI $28.01
52W range

ETF.net Grade

Pillar letters and Scores for PAYR, RDVI, with each pillar’s weight
Pillar	PAYR	RDVI
Cost30% weight	A92Higher	A72
Mission25% weight	Not scored	Not scored
Risk15% weight	A75Higher	B56
Tradability15% weight	B56	A94Higher
Holdings10% weight	A73	A86Higher
Durability5% weight	B55	A96Higher

Rank among Active Option Income funds

How we build Categories ›

Same Category. PAYR and RDVI are both graded against the same 50 Active Option Income funds, so their Grades compare head to head.

Active Option Income⁠

Category · 50 funds

See all 50 ›

PAYR ranks 4th and RDVI 4th of 50 funds in the Active Option Income Category.

Rank 1ARECIColumbia Research Enhanced Core Premium Income ETScore 83
Rank 2ATCALT. Rowe Price Capital Appreciation Premium Income ETFScore 80
Rank 2AYLDEFranklin ClearBridge Enhanced Income ETFScore 80
Rank 4APAYRFederated Hermes Enhanced Income ETFScore 76
Rank 4ARDVIFT Vest Rising Dividend Achievers Target Income ETFScore 76
Rank 6AACIOAptus Collared Income Opportunity ETFScore 74

Our read on each fund

ETF.net Research

PAYRAFederated Hermes Enhanced Income ETF

RDVIAFT Vest Rising Dividend Achievers Target Income ETF

In short

PAYR No data

RDVI Two engines in one wrapper: roughly 50 rising-dividend stocks on the equity side, and calls sold on the S&P 500 (not on those stocks) for the income, targeting 8 points above the index's dividend yield, paid monthly.

Stated mandate

PAYR No data

RDVI The Fund seeks current income and, secondarily, capital appreciation. It primarily invests in U.S.-traded equities in the Nasdaq US Rising Dividend Achievers Index and sells U.S.-traded calls on the S&P 500 Index or ETFs tracking it.

Why people hold it

PAYR No data

RDVI The income target is written into the mandate: annualized distributions aimed at 8 percentage points above the S&P 500's dividend yield, paid monthly.
Calls are written on the S&P 500, not on the fund's own holdings, so no individual dividend grower in the portfolio gets called away when it runs.ftportfolios.com
A concentrated equity sleeve of about 50 US dividend growers, not a 500-name index clone wearing an options overlay.
Billion-dollar-plus asset base and active daily trading, which puts it among the easier funds to move in and out of in this crowded category.

Worth knowing

PAYR No data

RDVI At 0.75%, it runs above the typical S&P 500 income fund, and cheaper overlays exist in the same lane (IVVW at 0.25%, GPIX at 0.35%).
The prospectus discloses distributions can include return of capital, so part of a monthly payment may be your own money coming back.
Stocks and options sit on different benchmarks. When the S&P 500 outruns the dividend-grower sleeve, the short calls give back more than the holdings pick up.

Full PAYR profile⁠

Full RDVI profile⁠

PAYR vs RDVI Holdings

How PAYR and RDVI differ

Overlap by weight

5.0%

Shared holdings make up 9.4% of PAYR and 5.0% of RDVI.

Level by level

Holdings3 in both5.0%
Sector11 Sectors42.3%
Countryby domicile77.6%

Sector

Sector weights in PAYR and RDVI, widest gap first
Sector	More in PAYRMore in RDVI	PAYR	RDVI
Financials	RDVI +21.5 points	16.5%	38.0%
Technology	RDVI +19.7 points	7.5%	27.1%
Utilities	PAYR +16.4 points	16.4%	0.0%
Consumer Staples	PAYR +13.2 points	15.6%	2.4%
Industrials	RDVI +11.5 points	0.9%	12.4%
Energy	PAYR +10.2 points	12.0%	1.8%
Real Estate	PAYR +10.1 points	10.1%	0.0%
Health Care	PAYR +7.8 points	11.7%	3.9%
Consumer Discretionary	RDVI +4.5 points	5.2%	9.7%
Materials	RDVI +0.4 points	0.1%	0.5%
Communication	RDVI +0.2 points	4.0%	4.2%

Country, concentration and asset class

Country by domicile

Country weights in PAYR and RDVI, widest gap first
Country	More in PAYRMore in RDVI	PAYR	RDVI
United States	RDVI +16.3 points	77.6%	93.9%
United Kingdom	PAYR +8.1 points	8.1%	0.0%
France	PAYR +6.6 points	6.6%	0.0%
Canada	PAYR +5.1 points	5.0%	0.0%
Switzerland	RDVI +2.6 points	0.0%	2.6%
Germany	PAYR +2.6 points	2.6%	0.0%
Ireland	RDVI +2.3 points	0.0%	2.3%
Bermuda	RDVI +1.2 points	0.0%	1.2%

Concentration

Weight in the 10 largest Holdings

PAYR32.9%
RDVI22.6%

Securities held

PAYR54
RDVI72

Asset class

PAYR: Equity
RDVI: Multi-Asset

Holdings

Only in PAYR51
In both3
Only in RDVI69

Only in PAYR

51 securities, 90.7% of PAYR by weight

Paychex Inc3.80%
Totalenergies SE3.57%
British American Tob-Sp A3.38%
Medtronic PLC3.31%
Verizon Communications In3.18%
Sanofi-Adr2.96%
Pfizer Inc2.95%
Enbridge Inc2.93%
Kimco Realty Corp2.77%
Wec Energy Group Inc2.68%
Firstenergy Corp2.68%
Cme Group Inc2.60%
Prologis Inc2.54%
Pepsico Inc2.52%
Chevron Corp2.46%
Amcor PLC2.42%
National Grid Plc-Sp Adr2.34%
Mondelez International In2.21%
Ppl Corp2.21%
American Tower Corp2.20%
Philip Morris Internation2.20%
Evergy Inc2.19%
Kimberly-Clark Corp2.18%
Tc Energy Corp2.14%
Duke Energy Corp1.94%
Muenchener Rueck-Unspon A1.64%
Treasury Bill Dn 12/261.61%
Altria Group Inc1.39%
Nnn Reit Inc1.33%
Best Buy Co Inc1.31%
Darden Restaurants Inc1.29%
Amdocs Ltd1.28%
Hershey Co/The1.20%
AbbVie Inc1.18%
Accenture Plc-Cl A1.13%
Truist Financial Corp1.09%
Federated Govt Obli Fd-Pr0.99%
Allianz SE - Unsp Adr0.98%
Xcel Energy Inc0.97%
Oneok Inc0.89%
Treasury Bill Dn 1/270.87%
Brixmor Property Group In0.87%
Cms Energy Corp0.87%
Southern Co/The0.81%
Treasury Bill Dn 11/260.80%
Mccormick & Co-Non Vtg Sh0.69%
Watsco Inc0.57%
Mcdonald's Corp0.52%
Spxw Us 12/18/26 C81500.02%
Spxw Us 11/30/26 C81500.02%

Only in RDVI

69 securities, 94.6% of RDVI by weight

The Travelers Companies, Inc.2.41%
Accenture plc2.41%
Visa Inc. (Class A)2.32%
Automatic Data Processing, Inc.2.32%
Veralto Corporation2.26%
The Allstate Corporation2.23%
Expedia Group, Inc.2.19%
Microsoft Corporation2.18%
Chubb Limited2.16%
The Bank of New York Mellon Corporation2.13%
Cincinnati Financial Corporation2.10%
Ross Stores, Inc.2.08%
JPMorgan Chase & Co.2.03%
Applied Materials, Inc.2.03%
Costco Wholesale Corporation2.02%
GE Vernova Inc.2.01%
NVIDIA Corporation1.99%
Synchrony Financial1.95%
KLA Corporation1.93%
Lam Research Corporation1.92%
Micron Technology, Inc.1.91%
Regeneron Pharmaceuticals, Inc.1.89%
Meta Platforms, Inc. (Class A)1.89%
The Hartford Insurance Group, Inc.1.87%
American Express Company1.85%
Snap-on Incorporated1.83%
Williams-Sonoma, Inc.1.79%
Bank of America Corporation1.76%
PayPal Holdings, Inc.1.76%
Baker Hughes Company (Class A)1.75%
Apple Inc.1.71%
Aflac Incorporated1.60%
Alphabet Inc. (Class A)1.58%
Salesforce, Inc.1.57%
Cognizant Technology Solutions Corporation1.56%
Wells Fargo & Company1.50%
ResMed Inc.1.49%
Ameriprise Financial, Inc.1.40%
The Charles Schwab Corporation1.34%
GE Aerospace1.31%
Mueller Industries, Inc.1.28%
Everest Group, Ltd.1.20%
Booking Holdings Inc.1.11%
Mastercard Incorporated1.07%
Southwest Airlines Co.1.06%
Ralph Lauren Corporation1.01%
PulteGroup, Inc.0.84%
Western Digital Corporation0.76%
State Street Corporation0.62%
Elevance Health Inc.0.60%

Weight gaps

All 3 Holdings in both funds, largest gap first.

Holding weights in PAYR and RDVI, widest gap first
Holding	More in PAYRMore in RDVI	PAYR	RDVI
Us BancorpUSB	PAYR +1.95 points	4.01%	2.06%
Pnc Financial Services GrPNC	PAYR +1.56 points	2.57%	1.01%
Regions Financial CorpRF	PAYR +0.89 points	2.85%	1.96%

All 52 PAYR holdings⁠All 73 RDVI holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

PAYR vs RDVI Cost

Overpaying RDVI vs PAYR

$6,392

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

PAYR 0.40%
$8,090
RDVI 0.75%
$14,482

Amount$10,000

Years30 years

Cost over time

PAYR 0.40%
RDVI 0.75%
Overpaying

Year by year

Year	PAYR	RDVI	Overpaying
10	$723	$1,336	$613
20	$2,793	$5,078	$2,285
30	$8,090	$14,482	$6,392

Expense ratio

0.40%PAYR, cheaper
0.75%RDVI

PAYR0.40%RDVI0.75%

0.30%1.64%

Middle half of Active Option Income funds
Median 0.95%

PAYR 5th cheapest of 50 funds

RDVI 14th cheapest of 50 funds

PAYR vs RDVI Dividends

Last 12 months to Oct 30, 2026

Yield (12M): PAYR No data; RDVI 8.29%
Payout (12M): PAYR No data; RDVI $2.32
Last payment: PAYR $0.29; RDVI $0.20
Ex-dividend: PAYR Oct 30, 2026; RDVI Oct 21, 2026
Paid on: PAYR Pays Nov 2, 2026; RDVI Oct 30, 2026
Frequency: PAYR Monthly; RDVI Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

PAYRMonthly · 13 paymentsAll PAYR payments⁠

RDVIMonthly · 46 paymentsAll RDVI payments⁠

PAYR vs RDVI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: PAYR 14.6%since Nov 2025RDVI 14.1%
Return per unit of riskSharpe ratio, 3 years: PAYR 1.36since Nov 2025RDVI 1.15
Worst fallMax drawdown, 5 years: PAYR −7.0%since Oct 2025RDVI −18.3%since Oct 2022
Market sensitivityBeta, 5 years: PAYR 0.01RDVI 0.87; Market = 1

PAYR and RDVI in the news

All news⁠

Category Review
The largest option-income fund beat the S&P 500 by selling calls on a quarter of its assets
Updated Oct 30, 2026RDVI
Category Review
The payout and the result came apart in option-income funds
Updated Sep 30, 2026RDVI

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PAYR vs RDVI

In short

Stated mandate

Why people hold it

Worth knowing

How PAYR and RDVI differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in PAYR

Only in RDVI

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The largest option-income fund beat the S&P 500 by selling calls on a quarter of its assets

The payout and the result came apart in option-income funds

How PAYR and RDVI differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in PAYR

Only in RDVI

Weight gaps