PAPI ETF — Parametric Equity Premium Income ETF
Parametric Equity Premium Income ETF (PAPI)
PAPI is an ETF that tracks the Basket (Morgan Stanley Asia Pacific Income ETF holdings). As of August 20, 2026, its distribution rate is 7.15%, its trailing-12-month yield is 7.29%, its expense ratio is 0.29%. Dividend Vision Distribution Safety Score™ is 79/100 (Generally safe). Fund total return is 39.0% over the past 2.8 years, 47.5 points behind SPY at 86.5%.
At the current 7.15% distribution rate, a $10,000 investment would generate approximately $715 per year, or $59.58 per month on an equivalent basis.
PAPI dividend yield and income
Data as of August 20, 2026.
The distribution rate (7.15%) is the latest posted forward yield, paid monthly. Trailing-12-month yield (7.29%) is the last year of payments divided by the current price. The last dividend was $0.1676. The last ex-dividend date was 07/31/2026. It was paid on 08/06/2026. At 7.15%, $10,000 would generate about $715 a year ($59.58 monthly-equivalent).
| Ex-date | Amount | vs year-ago payment |
|---|---|---|
| 2026-06-30 | $0.203 | 10.3% |
| 2026-05-29 | $0.156 | 5.4% |
| 2026-04-30 | $0.155 | -23.6% |
| 2026-03-31 | $0.238 | 23.3% |
| 2026-02-27 | $0.164 | 22.4% |
| 2026-01-30 | $0.161 | 15.8% |
| 2025-12-23 | $0.179 | 9.1% |
| 2025-11-28 | $0.148 | -3.9% |
| 2025-10-31 | $0.149 | 12.0% |
| 2025-09-30 | $0.18 | 5.3% |
| 2025-08-29 | $0.152 | 3.4% |
| 2025-07-31 | $0.147 | 20.5% |
| 2025-06-30 | $0.184 | 12.2% |
| 2025-05-30 | $0.148 | -20.0% |
| 2025-04-30 | $0.203 | 18.0% |
| 2025-03-31 | $0.193 | 7.2% |
| 2025-02-28 | $0.134 | -5.6% |
| 2025-01-31 | $0.139 | 20.9% |
| 2024-12-23 | $0.164 | -21.2% |
| 2024-11-29 | $0.154 | -7.2% |
| 2024-10-31 | $0.133 | — |
| 2024-09-30 | $0.171 | — |
| 2024-08-30 | $0.147 | — |
| 2024-07-31 | $0.122 | — |
| 2024-06-28 | $0.164 | — |
| 2024-05-31 | $0.185 | — |
| 2024-04-30 | $0.172 | — |
| 2024-03-28 | $0.18 | — |
| 2024-02-29 | $0.142 | — |
| 2024-01-31 | $0.115 | — |
| 2023-12-21 | $0.208 | — |
| 2023-11-30 | $0.166 | — |
| 2023 total | $0.374 | — |
| 2024 total | $1.849 | 394.4% |
| 2025 total | $1.956 | 5.8% |
| 2026 YTD total | $1.077 | 7.6% |
PAPI dividend growth
Trailing-12-month distributions versus the preceding 12 months changed 9.66%. That is the seasonality-immune income comparison, not a single quarterly check versus the prior quarter. An annualized trend fit on recent payments is 15.70%. That fit can move with uneven quarterly amounts and is not the same as a trailing-12-month cut. The deepest trailing-12-month payout decline in the past five years is -9.77%.
| Window | Change |
|---|---|
| 1Y | 29.7% |
PAPI performance versus SPY
Data as of August 20, 2026.
Fund total return is 39.0% over the past 2.8 years, 47.5 points behind SPY at 86.5%. Its deepest 1-year drawdown was 6.9%.
| Window | Total return | CAGR |
|---|---|---|
| Since inception (2.8 years) | 39.0% | 12.30% |
PAPI key facts
Data as of August 20, 2026.
- Distribution Safety Score™
- 79 · Generally safe
- Safety-Adjusted Yield
- 5.65%
- Issuer
- Morgan Stanley
- Asset type
- ETF
- Asset class
- Equity
- Inception date
- 09/30/2024
- Expense ratio
- 0.29%
- Distribution rate
- 7.15%
- Distribution frequency
- Monthly
- Trailing yield
- 7.29%
- Last close
- $28.12
- AUM
- $462,389,524
- Average volume
- 43230.0
- Last dividend
- $0.1676
- Ex-dividend date
- 07/31/2026
- Payment date
- 08/06/2026
- Beta
- 0.0
- P/E ratio
- 19.5838
How Dividend Vision calculates yield and returns
Distribution rate (7.15%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (7.29%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 20, 2026.
Distribution rate methodology · Distribution Safety Score methodology · SEC yield
Sources and review
Data as of August 20, 2026.
Primary sources: Morgan Stanley fund page; Index: Basket (Morgan Stanley Asia Pacific Income ETF holdings); prices and distributions from Dividend Vision, derived from vendor EOD data.
Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.
PAPI risks and drawbacks
Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 6.9%.
Who may consider PAPI — and who may not
It is a weaker fit for investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.
Frequently asked questions
Does PAPI pay monthly?
Yes. PAPI currently pays monthly.
What index does PAPI track?
PAPI tracks the Basket (Morgan Stanley Asia Pacific Income ETF holdings).
What is PAPI's expense ratio?
PAPI's expense ratio is 0.29%.
What is PAPI's dividend yield?
PAPI currently yields 7.15%, paid monthly, with a 0.29% expense ratio.
How has PAPI's dividend grown?
Trailing-12-month distributions versus the preceding 12 months changed 9.66%. That is not a single quarter versus the prior quarter.
When does PAPI pay a dividend?
PAPI pays monthly. The last dividend was $0.1676. The last ex-dividend date was 07/31/2026. It was paid on 08/06/2026.
How has PAPI performed?
Fund total return is 39.0% over the past 2.8 years, 47.5 points behind SPY at 86.5%. Its deepest 1-year drawdown was 6.9%.
Is PAPI a good investment?
PAPI's Dividend Vision Distribution Safety Score is 79 (Generally safe). That is a risk signal, not investment advice. It currently yields 7.15%. Compare peers below rather than treating any single figure as a buy or sell.
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