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PEPS ETF — Parametric Equity Plus ETF
Parametric Equity Plus ETF (PEPS)
Updated October 16, 2026.
Verdict as of October 16, 2026
PEPS's distribution is rated safe by the Dividend Vision Distribution Safety Score™ (94/100, high confidence). It pays quarterly and its distribution rate is 1.03%. The latest total cash payment per current share, $0.085 with an ex-date of September 21, 2026, was 10.4% higher than the previous $0.077. These payments are unclassified; this does not establish a base-dividend change.
Sources: Morgan Stanley, Section 19a-1 notices, scoring methodology.
PEPS is a low-cost ETF. its distribution rate is 1.03%, its trailing-12-month yield is 0.97%, its expense ratio is 0.10%. Dividend Vision Distribution Safety Score™ is 94/100 (Safe). Total return is 33.8% over the past 1.9 years, 3.3 points ahead of SPY at 30.5%.
Parametric Equity Plus ETF is an actively managed exchange-traded fund from Morgan Stanley that invests at least 80% of its assets in equity securities with the goal of providing long-term capital appreciation. The fund offers a modest current distribution rate and pays distributions quarterly, with a low expense ratio of 0.10%. It may appeal to equity-focused investors seeking both growth potential and regular income.
PEPS dividend yield and income
Price as of 2026-10-16.
The distribution rate (1.03%) uses calculation basis unavailable. Trailing-12-month yield (0.97%) is the last year of cash distributions by ex-date divided by the current price. The dividend amount is $0.085. The ex-dividend date is 09/21/2026. The payment date is 09/25/2026.
| Ex-date | Amount | Change from previous payment |
|---|---|---|
| 2026-09-21 | $0.085 | 10.4% Unclassified cash |
| 2026-06-22 | $0.077 | 32.8% Unclassified cash |
| 2026-03-23 | $0.058 | -40.8% Unclassified cash |
| 2025-12-23 | $0.098 | 48.5% Unclassified cash |
| 2025-09-22 | $0.066 | 1.5% Unclassified cash |
| 2025-06-23 | $0.065 | -0.0% Unclassified cash |
| 2025-03-24 | $0.06501 | 55.9% Unclassified cash |
| 2024-12-23 | $0.0417 | — |
| 2024 total (partial launch year) | $0.0417 | — |
| 2025 total | $0.29401 | — |
| 2026 YTD total | $0.22 | 12.2% vs prior-year YTD |
PEPS holdings and sector exposure
Holdings are not available for this snapshot.
PEPS performance versus SPY
Price and return data through 2026-10-16.
Total return is 33.8% over the past 1.9 years, 3.3 points ahead of SPY at 30.5%. Over the past year its total return — price change plus distributions reinvested — is 17.7%. Its deepest 1-year drawdown was 9.8%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | 2.1% | — |
| 3M | 2.1% | — |
| 6M | 10.9% | — |
| YTD | 12.8% | — |
| 1Y | 17.7% | — |
| Since inception (1.9 years) | 33.8% | 16.20% |
PEPS key facts
- Distribution Safety Score™
- 94 · Safe
- Safety-Adjusted Yield
- 0.97%
- Issuer
- Morgan Stanley
- Asset type
- ETF
- Asset class
- Equity
- Inception date
- 11/07/2024
- Expense ratio
- 0.10%
- Distribution rate
- 1.03%
- Distribution frequency
- Quarterly
- Trailing yield
- 0.97%
- Last close
- $32.94 (as of 2026-10-16)
- AUM
- $30,321,224
- Average volume
- 80.0
- Dividend
- $0.085
- Ex-dividend date
- 09/21/2026
- Payment date
- 09/25/2026
- Beta
- 1.0866
How Dividend Vision calculates yield and returns
Distribution rate (1.03%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (0.97%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.
Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology
Sources and review
Primary sources: Morgan Stanley; 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.
PEPS risks and drawbacks
PEPS's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. The deepest 1-year drawdown on record here is 9.8%.
Who may consider PEPS — and who may not
PEPS may suit someone looking for low-cost broad dividend exposure, a high Distribution Safety Score. It is a weaker fit for investors who need monthly cash flow (PEPS pays quarterly); investors hunting double-digit covered-call yields. This is educational context, not a recommendation to buy or sell.
More on PEPS
Frequently asked questions
Does PEPS pay monthly?
No. PEPS currently pays quarterly, not monthly.
What is PEPS's expense ratio?
PEPS's expense ratio is 0.10%.
What is PEPS's dividend yield?
PEPS's distribution rate is 1.03%, paid quarterly, with a 0.10% expense ratio — calculation basis unavailable.
When does PEPS pay a dividend?
PEPS pays quarterly. The dividend amount is $0.085. The ex-dividend date is 09/21/2026. The payment date is 09/25/2026.
How has PEPS performed?
Total return is 33.8% over the past 1.9 years, 3.3 points ahead of SPY at 30.5%. Over the past year its total return — price change plus distributions reinvested — is 17.7%. Its deepest 1-year drawdown was 9.8%.
Is PEPS a good investment?
PEPS's Dividend Vision Distribution Safety Score is 94 (Safe). That is a risk signal, not investment advice. Its distribution rate is 1.03% (calculation basis unavailable). Compare peers below rather than treating any single figure as a buy or sell.
More securities from Morgan Stanley.
Tickers
Holdings as-of date unavailable.
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