About Parametric Equity Premium Income ETF (PAPI) — Dividend Analysis 2026
PAPI primarily invests in an equity portfolio of durable dividend payers selected from the Russell 3000 Index using a proprietary investment process that considers 12-month yield and risk level. The fund attempts to achieve broad diversification by weighting all sectors equally and then assigning equal weights to the top-ranking stocks within each sector. In an attempt to generate incremental income, PAPI systematically writes short-dated (2-week) out-of-the-money call options in tranches, with expirations staggered every 3 to 4 days. The call options, which may include FLEX options, are written on the underlying ETF (SPY) or the S&P 500 Index. The fund earns some premium from writing calls, but this caps the funds upside potential. PAPI may incorporate tax loss harvesting within the long equity portfolio to maximize realization of losses. Investors should note that naked call writing, or selling call options without owning the underlying asset, is a high-risk options strategy.
Is PAPI a good dividend investment in 2026?
PAPI offers a 7.32% forward yield with a 50% payout ratio. Strand Safety Score: N/A. The 5-year dividend CAGR of 0% is modest — investors should weigh current income against growth alternatives.
PAPI DRIP calculator — what's the difference?
With DRIP on a $10,000 investment over 10 years, your PAPI portfolio grows to $20.3K vs $17.3K without reinvestment. This is the compound interest effect in action.
PAPI dividend growth history & forecast
PAPI has grown its dividend by 0% over the last year and 0% annually over 5 years. At this pace, an investor who holds for 10+ years will see their yield on cost grow substantially above the current 7.32%.
ETFs do not file income statements or cash flow statements. Their dividend safety depends on the underlying index quality, fund methodology, and holdings composition. Use the Holdings page to analyze individual stocks in this fund.
🌍 PAPI Yield by Country & Account Type
Real after-tax yield depends on where you live and how you hold PAPI.
Gross yield
7.32%
Tax rate
15.00%
After-tax yield
6.22%
Real yield (−CPI)
3.42%
Account/Country
Tax Rate
After-tax Yield
Real Yield
$10K Annual Income
🇺🇸 Roth IRA / 401k
0%
7.32%
4.52%
$732 / yr
🇺🇸 US Taxable (15%) ✓
15%
6.22%
3.42%
$622 / yr
🇺🇸 US Taxable (20%)
20%
5.86%
3.06%
$586 / yr
🇬🇧 UK ISA
0%
7.32%
4.52%
$732 / yr
🇬🇧 UK Taxable
8.75%
6.68%
3.88%
$668 / yr
🇨🇦 TFSA
0%
7.32%
4.52%
$732 / yr
🇨🇦 CA Taxable
25%
5.49%
2.69%
$549 / yr
🇦🇺 Super (pension)
15%
6.22%
3.42%
$622 / yr
🇦🇺 AU Taxable
30%
5.12%
2.32%
$512 / yr
🇩🇪 DE Taxable
26.375%
5.39%
2.59%
$539 / yr
🇫🇷 FR Taxable
30%
5.12%
2.32%
$512 / yr
Real yield = after-tax yield minus US CPI of 2.8%. 12-month CPI (US BLS via FMP economic-indicators). Click any row to select. US withholding tax (30%, reducible by treaty) applies to non-US residents holding US stocks in taxable accounts.
🎯 PAPI Income Goal & Break-Even
Dividend Break-Even
17yr
Years for dividends to fully repay your PAPI investment of $27.45/share (🇺🇸 US Taxable (15%) · 15.00% tax)
$10K invested · 10 Years
Dividends earned (DRIP)
$8.3K
Lost to inflation (2.8% CPI)
−$2.5K
Real purchasing power gain
$5.8K
12-month CPI (US BLS via FMP economic-indicators).
How much do I need to invest in PAPI for:
Shares needed
14,061
Capital required
$385,974
Monthly income
$2,000
Based on current dividend of $2.01/share/yr · 🇺🇸 US Taxable (15%) · static projection (no growth assumed).
📅 PAPI Dividend Payment Schedule
PAPI pays quarterly — 4 times per year. Next ex-div: TBD.
Jan
Feb
Mar
💰
Apr
May
Jun
💰
Jul
Aug
Sep
💰
Oct
Nov
Dec
💰
10 shares
$4.27 / payment
$17.07 / year after tax
100 shares
$42.67 / payment
$170.69 / year after tax
1,000 shares
$426.73 / payment
$1706.94 / year after tax
📊 PAPI vs Financial Services Benchmarks
How PAPI compares to typical Financial Services averages.
Benchmark: Financial Services
Dividend Yield▲+4.42% vs sectorBetter
PAPI
7.32%
avg
2.90%
5Y Dividend CAGR▼-7.10% vs sectorBelow avg
PAPI
0.00%
avg
7.10%
Payout Ratio▼+12.00% vs sectorBelow avg
PAPI
50.00%
avg
38.00%
Benchmarks: S&P 500 sector averages (2024–2026). Sources: Morningstar, Bloomberg, NAREIT. 5Y CAGR for PAPI sourced from FMP /financial-growth endpoint — real data, not estimates.
🏛️ PAPI Insider Activity
No recent SEC filings reported in the last 90 days.
📊 About This Data
Dividend yields, payout ratios, and financial metrics are sourced from Financial Modeling Prep (FMP) and cross-referenced with SEC EDGAR filings. Data is cached and updated every 24 hours via our nightly refresh. DRIP projections are forward-looking estimates, not guarantees.
Educational purposes only. Not financial advice. DividendFlow is not a registered investment advisor. Projections generated by the PAPI dividend calculator are estimates based on historical data and user inputs. Actual future returns, stock prices, and dividend payments will vary. Dividends can be cut or suspended at any time. All investments carry risk, including the loss of principal. Please consult a qualified financial professional before making any investment decisions. Full disclaimer →