Skip to content
etf.net

PAYR vs YLDW

Federated Hermes Enhanced Income ETF

PAYRACboe

Westwood Enhanced Income Opportunity ETF

YLDWBNYSE Arca

Overlap

Expense ratio

PAYR −0.39pt a year

PAYR0.40%YLDW0.79%

Avg volume · 30D

PAYR 2.8×the volume

PAYR18.1KYLDW6.46K

PAYR vs YLDW Performance

Dec 31, 2025 – Oct 30, 2026

+20.0%PAYR+5.3%YLDW

Dec 31, 2025 to Oct 30, 2026. PAYR +20.0%. YLDW +5.3%. Use the arrow keys to read each point.0%10%15%Dec 2025Jun 2026Oct 2026
Expense ratio
PAYR 0.40%, better
YLDW 0.79%
Fund size
PAYR $91M
YLDW $43M
1Y total return
PAYR +25.2%
YLDW No data
Holdings
PAYR 58
YLDW 101
Avg volume (30D)
PAYR 18.1K sh, better
YLDW 6.46K sh
NAV per share
PAYR $56.43
YLDW $25.21
52W range

ETF.net Grade

PAYR: Cost 92, Risk 75, Mission not scored, Tradability 56, Holdings 73, Durability 55. YLDW: Cost 65, Risk 68, Mission not scored, Tradability 46, Holdings 68, Durability 48.
Pillar letters and Scores for PAYR, YLDW, with each pillar’s weight
PillarPAYRYLDW
Cost30% weightA92HigherB65
Mission25% weightNot scoredNot scored
Risk15% weightA75HigherB68
Tradability15% weightB56HigherC46
Holdings10% weightA73HigherB68
Durability5% weightB55HigherC48

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 YLDW 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 YLDW 15th 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
  6. Rank 14BHCOWAmplify COWS Covered Call ETFScore 63
  7. Rank 15BYLDWWestwood Enhanced Income Opportunity ETFScore 60
  8. Rank 16BEDGEMRBL Enhanced Equity ETFScore 58

Our read on each fund

ETF.net Research

PAYRAFederated Hermes Enhanced Income ETF

YLDWBWestwood Enhanced Income Opportunity ETF

In short

PAYR No data

YLDW Most covered-call funds write options over a basket of stocks. YLDW writes over a mixed income portfolio (equities, investment grade and high yield bonds, convertibles, preferreds), stacking premium on top of coupons and dividends.

Stated mandate

PAYR No data

YLDW The Fund seeks current income first and long-term capital appreciation second. It invests primarily in dividend-paying or interest-bearing securities and uses covered calls to generate realized gains and distributable cash flow.

Why people hold it

PAYR No data

  • YLDW The option overlay sits on a multi-asset income sleeve, not just dividend stocks, so premium layers on top of bond coupons, preferred payments and dividends.westwoodgroup.com
  • 0.79% a year, below the median fee among actively managed options-income ETFs.
  • Actively managed with no index to track: the team can rotate across bond sectors, hybrids and equity income as conditions shift. Income is set on a monthly schedule.westwoodgroup.com
  • Lands in the upper half of its options-income peer group, with a wider spread of income sources than a single-sleeve covered-call fund.

Worth knowing

PAYR No data

  • YLDW Launched December 2025, so the operating record is short and the asset base small. Thin trading can mean wider spreads than in the category's household names.
  • Cheaper overlays sit in the same cohort: PAPI charges 0.29% and DIVO 0.56%.
  • Covered calls trade upside for premium: gains above the strike on written positions go to the option buyer, and premium income moves with option pricing.westwoodgroup.com

Full PAYR profile⁠

Full YLDW profile⁠

PAYR vs YLDW 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 YLDW Cost

Overpaying YLDW vs PAYR

$7,084

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

  • PAYR 0.40%

    $8,090

  • YLDW 0.79%

    $15,174

$10,000
30 years

Cost over time

  • PAYR 0.40%
  • YLDW 0.79%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530YLDW $15,174PAYR $8,090

Year by year

YearPAYRYLDWOverpaying
10$723$1,405$682
20$2,793$5,331$2,538
30$8,090$15,174$7,084

Expense ratio

  • 0.40%PAYR, cheaper
  • 0.79%YLDW
  • Middle half of Active Option Income funds
  • Median 0.95%

PAYR 5th cheapest of 50 funds

YLDW 17th cheapest of 50 funds

PAYR vs YLDW Dividends

Last 12 months to Oct 30, 2026
Last payment
PAYR $0.29
YLDW $0.18
Ex-dividend
PAYR Oct 30, 2026
YLDW Oct 29, 2026
Paid on
PAYR Pays Nov 2, 2026
YLDW Pays Nov 3, 2026
Frequency
PAYR Monthly
YLDW Monthly

Distribution history

Per share, 2025 to 2026, same scale for both

PAYRMonthly · 13 paymentsAll PAYR payments⁠
One bar per payment. 13 payments from 2025 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$0.502026YTD
YLDWMonthly · 11 paymentsAll YLDW payments⁠
One bar per payment. 11 payments from 2025 to 2026 YTD. Dec 30, 2025 $0.10; Jan 29, 2026 $0.15; Feb 26, 2026 $0.15; Mar 30, 2026 $0.14; Apr 29, 2026 $0.15; May 28, 2026 $0.15; Jun 29, 2026 $0.15; Jul 30, 2026 $0.18; Aug 28, 2026 $0.18; Sep 29, 2026 $0.18; Oct 29, 2026 $0.18. Use the arrow keys to read each point.$0$0.502026YTD

PAYR vs YLDW 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 2025YLDW No data
Return per unit of riskSharpe ratio, 3 years
PAYR 1.36since Nov 2025YLDW No data
Worst fallMax drawdown, 5 years
PAYR −7.0%since Oct 2025YLDW No data
Market sensitivityBeta, 5 years
PAYR 0.01YLDW 0.50

Popular comparisons

  • PAYRAvsRECIA

    Federated Hermes Enhanced Income ETF · Columbia Research Enhanced Core Premium Income ET

    Expense ratio
    0.40% · 0.30%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • YLDWBvsRECIA

    Westwood Enhanced Income Opportunity ETF · Columbia Research Enhanced Core Premium Income ET

    Expense ratio
    0.79% · 0.30%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • PAYRAvsTCALA

    Federated Hermes Enhanced Income ETF · T. Rowe Price Capital Appreciation Premium Income ETF

    Expense ratio
    0.40% · 0.34%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • YLDWBvsTCALA

    Westwood Enhanced Income Opportunity ETF · T. Rowe Price Capital Appreciation Premium Income ETF

    Expense ratio
    0.79% · 0.34%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • PAYRAvsYLDEA

    Federated Hermes Enhanced Income ETF · Franklin ClearBridge Enhanced Income ETF

    Expense ratio
    0.40% · 0.48%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • YLDWBvsYLDEA

    Westwood Enhanced Income Opportunity ETF · Franklin ClearBridge Enhanced Income ETF

    Expense ratio
    0.79% · 0.48%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.