SEPI vs SPY
Shelton Equity Premium Income ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SEPI delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SEPI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.54% | 0.09% | |
| AUM | $185M | $814.4B | |
| Dividend Yield | 6.77% | 1.01% | |
| Holdings | 151 | 505 | |
| YTD Return | +13.97% | +12.60% | |
| 1Y Return | +23.60% | +20.83% | |
| 3Y Return (annualized) | - | +20.98% | |
| 5Y Return (annualized) | - | +12.56% | |
| Volatility (annualized) | 10.7% | 15.3% | |
| Max Drawdown | -7.7% | -56.5% | |
| Fund Family | Shelton Capital Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 8, 2025 | Jan 22, 1993 |
SEPI vs SPY Performance
Shelton Equity Premium Income ETF (SEPI) is a ETF from Shelton Capital Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SEPI returned +23.60% while SPY returned +20.83%. Year to date, SEPI is up 13.97% versus a gain of 12.60% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 10.7% 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 -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 0.96. 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 6.77% against 1.01% for SPY.
Holdings Overlap
SEPI and SPY share 40 holdings out of 504 unique holdings combined, representing a 40.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $45 per year of difference.
Which performed better, SEPI or SPY?
Over the past year SEPI returned +23.60% vs +20.83% for SPY, so SEPI leads on 1-year performance. Past performance does not guarantee future results.
Which is riskier, SEPI or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 10.7% for SEPI. Worst drawdown: SEPI -7.7% vs SPY -56.5%.
Should I hold both SEPI and SPY?
SEPI and SPY have a monthly-return correlation of 0.96, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SEPI and SPY?
SEPI and SPY share 40 common holdings with a 40.8% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, SEPI or SPY?
SEPI yields 6.77% while SPY yields 1.01%, so SEPI currently pays the higher dividend yield.
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