CEPI vs SPY
REX Crypto Equity Premium Income ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | CEPI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.09% | |
| AUM | $112M | $789.1B | |
| Dividend Yield | 42.28% | 1.01% | |
| Holdings | 130 | 505 | |
| YTD Return | +13.07% | +13.39% | |
| 1Y Return | +16.70% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 26.5% | 15.3% | |
| Max Drawdown | -28.9% | -56.5% | |
| Fund Family | REX Shares | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 4, 2024 | Jan 22, 1993 |
CEPI vs SPY Performance
REX Crypto Equity Premium Income ETF (CEPI) is a ETF from REX Shares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CEPI returned +16.70% while SPY returned +22.52%. Year to date, CEPI is up 13.07% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
CEPI has been the more volatile fund, with annualized monthly volatility of 26.5% compared with 15.3% for SPY. 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 -28.9% for CEPI and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CEPI charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, CEPI currently yields 42.28% against 1.01% for SPY.
Holdings Overlap
CEPI and SPY share 11 holdings out of 518 unique holdings combined, representing a 12.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CEPI or SPY?
CEPI has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, CEPI or SPY?
Over the past year CEPI returned +16.70% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), CEPI annualized +11.82% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, CEPI or SPY?
CEPI has been the more volatile fund at 26.5% annualized versus 15.3% for SPY. Worst drawdown: CEPI -28.9% vs SPY -56.5%.
Should I hold both CEPI and SPY?
CEPI and SPY have a monthly-return correlation of 0.84, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CEPI and SPY?
CEPI and SPY share 11 common holdings with a 12.3% weight overlap. Combined, they hold 518 unique securities.
Which pays a higher dividend, CEPI or SPY?
CEPI yields 42.28% while SPY yields 1.01%, so CEPI currently pays the higher dividend yield.
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