PAPIvsHCOWETF Comparison
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Parametric Equity Premium Income ETF (PAPI) and Amplify Cash Flow High Income ETF (HCOW) belong to the same industry segment: Options Strategies. PAPI's top 3 sector exposures are Technology, Non-Energy Materials and Consumer Non-Cyclicals. In contrast, HCOW's top sector exposures are Industrials, Finance and Technology. PAPI is less expensive with a Total Expense Ratio (TER) of 0.29%, versus 0.65% for HCOW. PAPI is up 11.41% year-to-date (YTD) with +$147M in YTD flows. HCOW performs worse with 8.72% YTD performance, and +$4M in YTD flows. Run a side-by-side ETF comparison of PAPI and HCOW below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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PAPI vs HCOW performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PAPI HCOW | +4.15%+3.71% | +6.00%+6.59% | +11.41%+8.72% | +15.83%+16.42% | n/an/a | n/an/a |
| Flows | PAPI HCOW | +$27M- | +$63M+$1M | +$147M+$4M | +$185M+$4M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PAPI HCOW | +9.55%+12.63% | +10.24%+13.76% | n/an/a | n/an/a |
| Max drawdown | PAPI HCOW | -2.98%-3.52% | -6.88%-6.31% | n/an/a | n/an/a |
| Max drawdown duration | PAPI HCOW | 41d16d | 135d65d | n/an/a | n/an/a |
Trading data
PAPI | HCOW | |
Last sale 7/24/2026 at 7:59 PM | $27.70 | $24.76 |
| Previous close 07/24/2026 | $27.43 | $24.13 |
| Consolidated volume 07/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 7/24/2026 at 7:59 PM
Live
Closed
PAPI | HCOW | |
|---|---|---|
| Last price | $27.70 | $24.76 |
| 1D performance | +0.98% | +2.62% |
| AuM | $439.64 M | $17.05 M |
| E/R | 0.29% | 0.65% |
Characteristics
PAPI | HCOW | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Morgan Stanley | Amplify ETFs |
| Benchmark | - | - |
| N° of holdings | 188 | 40 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 19, 2023 | September 20, 2023 |
| ESG | No | No |
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Exposure
Countries
PAPI
USA
94.1%
Other
5.9%
HCOW
USA
96.49%
Other
3.51%
Sectors
PAPI
Technology
11.85%
Non-Energy Materi.
11.32%
Consumer Non-Cycl.
10.82%
Healthcare
10.66%
Finance
10.34%
Utilities
9.93%
Other
35.08%
HCOW
Industrials
20.3%
Finance
14.39%
Technology
12.89%
Non-Energy Materi.
12.74%
Healthcare
11.36%
Energy
8.69%
Other
19.63%
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Diversification
PAPI
Total weight of top 15 holdings out of 15
11.22%
HCOW
Total weight of top 15 holdings out of 15
47.58%
Top 15 holdings
Data as of June 30, 2026
PAPI
Morgan Stanley Instl. Liquidity Funds - Government Portfolio
1.06%
Corning, Inc.
1.01%
TD SYNNEX Corp.
0.80%
Cisco Systems, Inc.
0.76%
Power Integrations, Inc.
0.73%
Royalty Pharma Plc
0.72%
Millicom International Cellular SA
0.72%
Texas Instruments Incorporated
0.71%
Avnet, Inc.
0.71%
Cummins, Inc.
0.70%
Reynolds Consumer Products, Inc.
0.68%
Target Corp.
0.67%
MSC Industrial Direct Co., Inc.
0.66%
Valero Energy Corp.
0.65%
Best Buy Co., Inc.
0.64%
HCOW
Oshkosh Corp.
3.51%
Owens Corning
3.45%
Crown Holdings, Inc.
3.40%
Williams-Sonoma, Inc.
3.39%
Booking Holdings, Inc.
3.32%
Tetra Tech, Inc.
3.16%
Pentair plc
3.14%
Avery Dennison Corp.
3.12%
Allison Transmission Holdings, Inc.
3.09%
Hasbro, Inc.
3.05%
AECOM
3.04%
Constellation Brands, Inc.
3.02%
Cencora, Inc.
2.98%
Roper Technologies, Inc.
2.97%
EQT Corp.
2.94%
Frequently asked questions about PAPI and HCOW
How have the PAPI and HCOW ETFs performed in 2026?
As of July 24, 2026, PAPI is up 11.41% year-to-date (YTD), while HCOW has returned 8.72%. That puts PAPI better performer ahead so far this year.
Which ETF is attracting more investor money: PAPI or HCOW?
Year-to-date, the PAPI ETF saw +$147M in flows, compared to +$4M for HCOW.
Which ETF is more volatile: PAPI or HCOW?
Over the past year, PAPI had a volatility of 10.24%, while HCOW experienced 13.76%.
Which ETF is bigger: PAPI or HCOW?
As of July 24, 2026, PAPI holds $439.64 M in assets under management (AUM), while HCOW manages $17.05 M.
What sectors do the PAPI and HCOW ETFs invest in?
PAPI leans toward sectors like Technology, Non-Energy Materials and Consumer Non-Cyclicals. Meanwhile, HCOW focuses on Industrials, Finance and Technology.
What are the top holdings of the PAPI ETF and HCOW ETF?
PAPI top holdings include Morgan Stanley Instl. Liquidity Funds - Government Portfolio, Corning, Inc. and TD SYNNEX Corp.. HCOW holds in its top three: Oshkosh Corp., Owens Corning and Crown Holdings, Inc..
Which ETF is more diversified: PAPI or HCOW?
PAPI holds 189 securities with 11.22% of its assets in the top 15. HCOW has 40 securities and a top 15 weight of 47.58%.
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