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PAYR vs YLDE

Federated Hermes Enhanced Income ETF

PAYRACboe

Franklin ClearBridge Enhanced Income ETF

YLDEANasdaq

Overlap

Expense ratio

PAYR −0.08pt a year

PAYR0.40%YLDE0.48%

Avg volume · 30D

PAYR 1.4×the volume

PAYR18.1KYLDE12.9K

PAYR vs YLDE Performance

Oct 31, 2025 – Oct 30, 2026

+25.2%PAYR+16.1%YLDE

Oct 31, 2025 to Oct 30, 2026. PAYR +25.2%. YLDE +16.1%. Use the arrow keys to read each point.0%5%10%20%Oct 2025Apr 2026Oct 2026
Expense ratio
PAYR 0.40%, better
YLDE 0.48%
Fund size
PAYR $91M
YLDE $181M
1Y total return
PAYR +25.2%, better
YLDE +16.1%
Yield (12M)
PAYR No data
YLDE 7.23%
Holdings
PAYR 58
YLDE 50
Avg volume (30D)
PAYR 18.1K sh, better
YLDE 12.9K sh
NAV per share
PAYR $56.43
YLDE $57.43
52W range

ETF.net Grade

PAYR: Cost 92, Risk 75, Mission not scored, Tradability 56, Holdings 73, Durability 55. YLDE: Cost 86, Risk 68, Mission not scored, Tradability 77, Holdings 84, Durability 90.
Pillar letters and Scores for PAYR, YLDE, with each pillar’s weight
PillarPAYRYLDE
Cost30% weightA92HigherA86
Mission25% weightNot scoredNot scored
Risk15% weightA75HigherB68
Tradability15% weightB56A77Higher
Holdings10% weightA73A84Higher
Durability5% weightB55A90Higher

Rank among Active Option Income funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. PAYR and YLDE 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 ›

YLDE ranks 2nd and PAYR 4th of 50 funds in the Active Option Income Category.

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

Our read on each fund

ETF.net Research

PAYRAFederated Hermes Enhanced Income ETF

YLDEAFranklin ClearBridge Enhanced Income ETF

In short

PAYR No data

YLDE A 2017 ClearBridge dividend portfolio that had an income engine bolted on in 2025: about 50 large-cap dividend payers, with index calls sold on top for premium. Pays monthly, charges 0.48%, no waiver, below the category median.

Stated mandate

PAYR No data

YLDE The Fund seeks income and long-term capital appreciation through an actively managed enhanced equity-income strategy. It primarily invests in dividend-paying equities and writes U.S. exchange-traded calls on U.S. large-cap equity indices to enhance income.

Why people hold it

PAYR No data

  • YLDE The overlay sits on top of the stock picks, not inside them. Calls are written on U.S. large-cap indices such as the S&P 500, so no single holding has its own upside sold away.franklintempleton.com
  • 0.48% with no fee waiver propping it up, below the median for active overlay funds. Cheaper than RDVI at 0.75%, though index-built rivals RECI (0.30%) and TCAL (0.34%) go lower.
  • Two desks, two jobs: ClearBridge runs the roughly 50-stock dividend sleeve, while a separate options manager handles the call writing, an arrangement spelled out in the fund's filings.sec.gov
  • Income arrives monthly and comes from two places, dividends from the equity sleeve plus premium from written calls, rather than from reaching for the highest-yielding names.franklintempleton.com

Worth knowing

PAYR No data

  • YLDE The ticker dates to 2017, but it spent most of that life as a dividend ESG fund. The enhanced-income objective, options overlay and dividend policy changed on February 28, 2025.franklintempleton.com
  • Selling index calls trades away part of a sharp market rally for premium collected up front, and that premium offsets losses only as far as it goes in a steep decline.franklintempleton.com
  • A thinly traded fund with a smaller asset base than the category's giants, which can mean wider bid/ask spreads than the headline names in derivative income.

Full PAYR profile⁠

Full YLDE profile⁠

PAYR vs YLDE 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 YLDE Cost

Overpaying YLDE vs PAYR

$1,515

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

  • PAYR 0.40%

    $8,090

  • YLDE 0.48%

    $9,605

$10,000
30 years

Cost over time

  • PAYR 0.40%
  • YLDE 0.48%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530YLDE $9,605PAYR $8,090

Year by year

YearPAYRYLDEOverpaying
10$723$865$142
20$2,793$3,328$535
30$8,090$9,605$1,515

Expense ratio

  • 0.40%PAYR, cheaper
  • 0.48%YLDE
  • Middle half of Active Option Income funds
  • Median 0.95%

PAYR 5th cheapest of 50 funds

YLDE 8th cheapest of 50 funds

PAYR vs YLDE Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
PAYR No data
YLDE 7.23%
Payout (12M)
PAYR No data
YLDE $4.15
Last payment
PAYR $0.29
YLDE $0.31
Ex-dividend
PAYR Oct 30, 2026
YLDE Oct 1, 2026
Paid on
PAYR Pays Nov 2, 2026
YLDE Oct 6, 2026
Frequency
PAYR Monthly
YLDE Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

PAYRMonthly · 13 paymentsAll PAYR payments⁠
One bar per payment. 13 payments from 2023 to 2026 YTD. Oct 31, 2025 $0.16; Nov 28, 2025 $0.43; Dec 31, 2025 $0.41; Jan 30, 2026 $0.29; Feb 27, 2026 $0.33; Mar 31, 2026 $0.57; Apr 30, 2026 $0.18; May 29, 2026 $0.49; Jun 30, 2026 $0.46; Jul 31, 2026 $0.33; Aug 31, 2026 $0.32; Sep 30, 2026 $0.38; Oct 30, 2026 $0.29. Use the arrow keys to read each point.$0$0.5020232026YTD
YLDEMonthly · 28 paymentsAll YLDE payments⁠
One bar per payment. 28 payments from 2023 to 2026 YTD. Mar 28, 2023 $0.16; Jun 27, 2023 $0.22; Sep 26, 2023 $0.20; Dec 26, 2023 $0.15; Mar 25, 2024 $0.17; Jun 25, 2024 $0.20; Sep 25, 2024 $0.20; Dec 26, 2024 $0.29; Mar 3, 2025 $0.08; Apr 1, 2025 $0.08; May 1, 2025 $0.28; Jun 2, 2025 $0.26; Jul 1, 2025 $0.52; Aug 1, 2025 $0.26; Sep 2, 2025 $0.25; Oct 1, 2025 $0.27; Nov 3, 2025 $0.28; Dec 1, 2025 $0.27; Dec 26, 2025 $0.53; Feb 2, 2026 $0.27; Mar 2, 2026 $0.28; Apr 1, 2026 $0.30; May 1, 2026 $0.31; Jun 1, 2026 $0.31; Jul 1, 2026 $0.32; Aug 3, 2026 $0.64; Sep 1, 2026 $0.32; Oct 1, 2026 $0.31. Use the arrow keys to read each point.$0$0.5020232026YTD

PAYR vs YLDE 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 2025YLDE 10.3%
Return per unit of riskSharpe ratio, 3 years
PAYR 1.36since Nov 2025YLDE 1.24
Worst fallMax drawdown, 5 years
PAYR −7.0%since Oct 2025YLDE −20.2%
Market sensitivityBeta, 5 years
PAYR 0.01YLDE 0.60

PAYR and YLDE in the news

All news⁠

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