PAYR vs TSPX
Federated Hermes Enhanced Income ETF vs Twin Oak Active Opportunities ETF
Which is better, PAYR or TSPX?
TSPX has been ahead.
PAYR has a lower expense ratio. TSPX led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PAYR | TSPX |
|---|---|---|
| Expense Ratio | 0.40%Best | 1.04% |
| AUM | $82M | $247M |
| Dividend Yield | 8.32% | 1.96% |
| Holdings | 55 | 4 |
| YTD Return | +6.04% | +10.71%Best |
| 1Y Return | +9.06% | +11.30%Best |
| Volatility (annualized) | 12.7% | 10.4%Best |
| Max Drawdown | -8.8% | -8.1%Best |
| $10,000 over 1 years | $10,927 | $10,982Best |
| Fund Family | Federated Hermes Funds | Twin Oak |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Allocation/Balanced | Allocation/Balanced |
| Inception | Oct 7, 2025 | Feb 20, 2025 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1 years row, are measured over the window both funds cover: Oct 8, 2025 to Oct 14, 2026 (1 years).
PAYR vs TSPX growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1 years both funds cover.
PAYR vs TSPX Performance
Federated Hermes Enhanced Income ETF (PAYR) is an ETF from Federated Hermes Funds and Twin Oak Active Opportunities ETF (TSPX) is an ETF from Twin Oak. Over the past year PAYR returned +9.06% while TSPX returned +11.30%. Year to date, PAYR is up 6.04% versus a gain of 10.71% for TSPX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PAYR has been the more volatile fund, with annualized monthly volatility of 12.7% compared with 10.4% for TSPX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -8.8% for PAYR and -8.1% for TSPX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.06. They move largely independently of each other.
Fees and Cost Over Time
PAYR charges 0.40% per year while TSPX charges 1.04%. On a $10,000 position that is $40 vs $104 annually, a gap of $64 per year that compounds over a long holding period. On income, PAYR currently yields 8.32% against 1.96% for TSPX.
Holdings Overlap
We hold position weights for 46 holdings in PAYR and 3 in TSPX, totalling 91.8% and 99.6% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 46 positions we hold weights for in PAYR and 3 in TSPX, against full books of 55 and 4.
You are not choosing between two funds in isolation.
Whichever of PAYR and TSPX you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PAYR or TSPX?
PAYR has an expense ratio of 0.40% while TSPX charges 1.04%. PAYR is the cheaper option, by $64 a year on a $10,000 investment.
Which performed better, PAYR or TSPX?
Over the past year PAYR returned +9.06% vs +11.30% for TSPX, so TSPX leads on 1-year performance. Over the longest common window we track (1 years), PAYR annualized +9.27% vs +9.82% for TSPX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PAYR or TSPX?
PAYR has been the more volatile fund at 12.7% annualized versus 10.4% for TSPX. Worst drawdown: PAYR -8.8% vs TSPX -8.1%.
Should I hold both PAYR and TSPX?
PAYR and TSPX have a monthly-return correlation of 0.06, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, PAYR or TSPX?
PAYR yields 8.32% while TSPX yields 1.96%, so PAYR currently pays the higher dividend yield.
Is TSPX better than PAYR?
PAYR has a lower expense ratio. TSPX led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.