# Parametric Equity Premium Income ETF (PAPI) — Overview

PAPI · NYSE · Fund

Canonical page: https://www.lighthorse.io/tickers/papi

## Price

Last close $27.39 on Oct 15, 2026. 52-week range $25.24 – $28.45.

## Fund profile

PAPI is actively managed to invest in a broad equity portfolio of US dividend payers, while utilizing a laddered, naked call writing strategy on the S&P 500. The fund seeks to provide monthly income and capital appreciation.

| Metric | Value |
| --- | --- |
| Issuer | Morgan Stanley Investment Management Inc. |
| Industry | — |
| Inception | Oct 16, 2023 |
| Assets under management | $514.2M |
| Expense ratio | 0.29% |
| Net asset value | $27.14 (as of Oct 14, 2026) |
| Distributions | Monthly |
| Leverage | 1x |

## Frequently Asked Questions

### What is Parametric Equity Premium Income ETF (PAPI)?

PAPI is actively managed to invest in a broad equity portfolio of US dividend payers, while utilizing a laddered, naked call writing strategy on the S&P 500. The fund seeks to provide monthly income and capital appreciation.

### What is PAPI's expense ratio?

Parametric Equity Premium Income ETF charges an annual expense ratio of 0.29%. The fund is issued by Morgan Stanley Investment Management Inc..

### How large is PAPI?

Parametric Equity Premium Income ETF manages $514.2M in assets and has traded since Oct 16, 2023.

### How do I buy shares of Parametric Equity Premium Income ETF (PAPI)?

PAPI trades commission-free with a Light Horse Securities brokerage account — from the mobile app, the web at [Light Horse Dashboard](https://portal.lighthorse.io), the trading API, or an [AI agent connected over MCP](/instructions/ai/claude). The trade panel on this page places the order once you are signed in.

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Quotes and charts are not real-time and must not be relied on for trade decisions or valuation.

This page is for informational purposes only. Nothing on it is a recommendation, solicitation or offer to buy or sell any security, nor investment, legal or tax advice. Light Horse Securities Inc does not verify third-party data and is not responsible for its accuracy, completeness or timeliness.

Data provided by [AInvest](https://www.ainvest.com).