Data as of .
BALQ vs SEPI: which paid, and which earned it?
BALQ and SEPI both write options for income.
What they hold in common
By the books each fund has filed, BALQ and SEPI hold 39% of their money in the same securities at the same weight.
| Holding | BALQ | SEPI |
|---|---|---|
| APPLE | 7.63% | 5.24% |
| MICRON TECHNOLOGY | 5.06% | 6.53% |
| ADVANCED MICRO DEVICES | 4.31% | 7.54% |
| NVIDIA | 8.62% | 4.04% |
| ALPHABET CLASS A | 3.44% | 4.68% |
| MICROSOFT | 6.72% | 3.42% |
| AMAZON.COM INC | 4.76% | 3.36% |
| BROADCOM INC | 2.99% | 3.08% |
| META PLATFORMS CLASS A | 3.31% | 2.79% |
| WALMART INC | 2.36% | 1.69% |
| GOLDMAN SACHS GROUP | 0.71% | 3.91% |
| VERIZON COMMUNICATIONS INC | 0.52% | 0.81% |
| Only in BALQ | Only in SEPI |
|---|---|
| ALPHABET CLASS C 3.09% | JOHNSON & JOHNSON 3.31% |
| TESLA INC 2.73% | EXXON MOBIL CORP 3.08% |
| BLK CSH FND TREASURY SL AGENCY 2.70% | EBAY INC 2.47% |
| INTEL CORPORATION 2.62% | DUKE ENERGY CORP 2.08% |
| COSTCO WHOLESALE CORP 2.61% | GENERAL MOTORS COMPANY 1.96% |
| CISCO SYSTEMS INC 2.15% | CARDINAL HEALTH INC 1.91% |
| PALANTIR TECHNOLOGIES CLASS A 1.96% | BERKSHIRE HATHAWAY INC 1.87% |
| LAM RESEARCH 1.94% | AKAMAI TECHNOLOGIES INC 1.80% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and Sep 18, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| BALQ | SEPI | BALQ | SEPI | BALQ | SEPI | |
| 3 months | −0.5% | +5.4% | 2.8% | 2.1% | +1.9 pts | +3.2 pts |
| 6 months | +27.2% | +20.5% | 6.5% | 4.7% | +3.0 pts | +2.5 pts |
| 1 year | not published | +21.8% | not published | 7.5% | not published | +5.2 pts |
| Since launch | +21.4% | +24.4% | 8.5% | 7.7% | +5.3 pts | +5.4 pts |
| BALQ iShares Nasdaq Premium Income Active ETF Covered call on QQQ, paying monthly | SEPI Shelton Equity Premium Income ETF Covered call on SPY, paying monthly | |
|---|---|---|
| Issuer | iShares | Shelton |
| Strategy | covered call | covered call |
| Benchmark | Nasdaq-100 (QQQ) | S&P 500 (SPY) |
| Pays | monthly | monthly |
| Payout rate, annualized | 8.9% | 8.3% |
| Expense ratio | 0.35% | 0.54% |
| Cash paid, 1 year | 8.5% (since launch on Dec 3, 2025) | 7.5% |
| Price change, 1 year | +11.9% | +13.4% |
| Total return, 1 year | +21.4% (since launch on Dec 3, 2025) | +21.8% |
| Benchmark return, 1 year | +16.1% | +16.6% |
| Ahead or behind | +5.3 pts | +5.2 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 289 days | 375 days |
| Net assets | $29m | $152m |
BALQ in plain words
Over the period since launch on Dec 3, 2025 to Sep 18, 2026, BALQ paid 8.5% of its starting value in cash distributions while its price rose 11.9%. With every distribution reinvested, the fund returned +21.4%. Nasdaq-100 (QQQ) returned +16.1% over the same days, so a holder was ahead by 5.3 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 8.9%, paid monthly.
SEPI in plain words
Over the year to Sep 18, 2026, SEPI paid 7.5% of its starting value in cash distributions while its price rose 13.4%. With every distribution reinvested, the fund returned +21.8%. S&P 500 (SPY) returned +16.6% over the same days, so a holder was ahead by 5.2 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 8.3%, paid monthly.
Questions people ask
- Which is cheaper, BALQ or SEPI?
- BALQ charges 0.35% a year and SEPI charges 0.54%, so BALQ is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, BALQ against SEPI, data as of Sep 18, 2026. https://etfiq.com/compare/income/balq-vs-sepi Free to use with attribution; the underlying files are at Open data.