SEPI vs SPY
Shelton Equity Premium Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, SEPI or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. SEPI led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.95. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 47.3%.
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 | SEPI | SPY |
|---|---|---|
| Expense Ratio | 0.54% | 0.09%Best |
| AUM | $185M | $804.7B |
| Dividend Yield | 7.32% | 0.98% |
| Holdings | 151 | 505 |
| YTD Return | +16.45%Best | +12.89% |
| 1Y Return | +23.39%Best | +17.01% |
| 3Y Return (annualized) | - | +22.46% |
| 5Y Return (annualized) | - | +13.01% |
| Volatility (annualized) | 10.5%Best | 13.2% |
| Max Drawdown | -7.7%Best | -8.9% |
| $10,000 over 1 years | $12,507Best | $11,867 |
| Top 10 Weight | 47.3% | 37.8%Best |
| Fund Family | Shelton Capital Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 8, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1 years row, are measured over the window both funds cover: Sep 8, 2025 to Sep 24, 2026 (1 years).
SEPI vs SPY 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.
SEPI vs SPY Performance
Shelton Equity Premium Income ETF (SEPI) is an ETF from Shelton Capital Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year SEPI returned +23.39% while SPY returned +17.01%. Year to date, SEPI is up 16.45% versus a gain of 12.89% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 13.2% compared with 10.5% for SEPI. 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 -7.7% for SEPI and -8.9% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SEPI charges 0.54% per year while SPY charges 0.09%. On a $10,000 position that is $54 vs $9 annually, a gap of $45 per year that compounds over a long holding period. On income, SEPI currently yields 7.32% against 0.98% for SPY.
Holdings Overlap
100.0% of SEPI's money is in holdings SPY also owns. 46.9% of SPY's money is in holdings SEPI also owns.
Most of SEPI is already inside SPY. Owning both mostly buys the same companies twice.
40 positions in common, counted across the 40 positions we hold weights for in SEPI and 504 in SPY, against full books of 151 and 505.
What only one of them owns
Our book lists 457 positions for SPY that do not appear in our book for SEPI (52.5% of the fund), and 0 for SEPI that do not appear in SPY (0.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SEPI | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 5.82% | 7.26% | 1.44% |
| NVDANvidia Corp | 4.67% | 8.01% | 3.34% |
| MSFTMicrosoft Corp | 4.60% | 5.66% | 1.06% |
| AMZNAmazon.Com Inc | 3.67% | 3.79% | 0.12% |
| GOOGLAlphabet Inc,class A | 4.46% | 2.99% | 1.47% |
| AMDAdvanced Micro Devices Inc | 5.82% | 1.14% | 4.68% |
| MUMicron Technology, Inc. | 5.32% | 1.60% | 3.72% |
| CATCaterpillar, Inc. | 5.26% | 0.55% | 4.71% |
| AVGOBroadcom Inc | 2.93% | 2.66% | 0.27% |
| METAMeta Platforms Inc | 3.07% | 1.93% | 1.14% |
100.0% of SEPI is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SEPI or SPY?
SEPI has an expense ratio of 0.54% while SPY charges 0.09%. SPY is the cheaper option, by $45 a year on a $10,000 investment.
Which performed better, SEPI or SPY?
Over the past year SEPI returned +23.39% vs +17.01% for SPY, so SEPI leads on 1-year performance. Over the longest common window we track (1 years), SEPI annualized +25.07% vs +18.67% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SEPI or SPY?
SPY has been the more volatile fund at 13.2% annualized versus 10.5% for SEPI. Worst drawdown: SEPI -7.7% vs SPY -8.9%.
Should I hold both SEPI and SPY?
SEPI and SPY have a monthly-return correlation of 0.95, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SEPI and SPY?
100.0% of SEPI's money is in holdings SPY also owns. 46.9% of SPY's is in holdings SEPI also owns. They hold 40 positions in common, counted across the 40 positions we hold weights for in SEPI and 504 in SPY.
Which pays a higher dividend, SEPI or SPY?
SEPI yields 7.32% while SPY yields 0.98%, so SEPI currently pays the higher dividend yield.
Is SPY better than SEPI?
SPY has a lower expense ratio. SEPI led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.95. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 47.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.