Which paid more, FTQI or SEPI?

Over the year to Nov 4, 2026, FTQI paid 12.1% of its starting price in cash and SEPI paid 8.9%, so FTQI paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, FTQI or SEPI?

With every distribution reinvested, FTQI returned +16.5% and SEPI +17.9% over the year to Nov 4, 2026.

Which is cheaper, FTQI or SEPI?

FTQI charges 0.75% a year and SEPI charges 0.54%, so SEPI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

FTQI vs SEPI: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, FTQI paid 12.1% of its price in cash against SEPI’s 8.9%, though SEPI returned more with it reinvested.

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Net assets: $997m on Nov 3, 2026 for First Trust Nasdaq BuyWrite Income ETF, and $152m on Jun 30, 2026 for Shelton Equity Premium Income ETF.

FTQI on its own →SEPI on its own →

At a glance

12.1%

FTQI cash paid, 1 year

8.9%

SEPI cash paid, 1 year

+16.5%

FTQI total return, 1 year

+17.9%

SEPI total return, 1 year

FTQI · 1 year to Nov 4, 2026 4.2 pts ahead of QQQ

FTQI

+16.5%

QQQ

+12.3%

4.2 pts ahead of QQQ

FTQI over 1 year: paid 12.1%, price +3.5%, total +16.5%, QQQ +12.3%, +4.2 pts. Data to Nov 4, 2026.

QQQ

+12.3%

FTQI

+16.5%

12.1% of it arrived as cash

4.2 pts ahead of QQQ

Total return, distributions reinvested

4.2 pts ahead of QQQ

FTQI over 1 year: paid 12.1%, price +3.5%, total +16.5%, QQQ +12.3%, +4.2 pts. Data to Nov 4, 2026.

QQQ

+12.3%

FTQI

+16.5%

12.1% as cash

4.2 pts ahead of QQQ

12.1% of it arrived as cash. Total return, distributions reinvested. FTQI over 1 year: paid 12.1%, price +3.5%, total +16.5%, QQQ +12.3%, +4.2 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

SEPI · 1 year to Nov 4, 2026 3.1 pts ahead of SPY

SEPI

+17.9%

SPY

+14.8%

3.1 pts ahead of SPY

SEPI over 1 year: paid 8.9%, price +8.3%, total +17.9%, SPY +14.8%, +3.1 pts. Data to Nov 4, 2026.

SPY

+14.8%

SEPI

+17.9%

8.9% of it arrived as cash

3.1 pts ahead of SPY

Total return, distributions reinvested

3.1 pts ahead of SPY

SEPI over 1 year: paid 8.9%, price +8.3%, total +17.9%, SPY +14.8%, +3.1 pts. Data to Nov 4, 2026.

SPY

+14.8%

SEPI

+17.9%

8.9% cash

3.1 pts ahead of SPY

8.9% of it arrived as cash. Both charts share one scale, 0 to +17.9%. SEPI over 1 year: paid 8.9%, price +8.3%, total +17.9%, SPY +14.8%, +3.1 pts. Data to Nov 4, 2026.

Both charts share one scale, 0 to +17.9%. Data to Nov 4, 2026.

Pair scorecard

SEPI costs 0.21 points a year less; their one-year returns differ by 1.4 points.

Points (pts) are percentage points.

FTQI vs SEPI: Dividend Yield & Total Return
Measure	FTQI	SEPI
Paid and earned
Measure	FTQI	SEPI
Total return, 1 year	+16.5%	+17.9%
Price change, 1 year	rose 3.5%	rose 8.3%
Against its benchmark
Measure	FTQI	SEPI
Benchmark	Nasdaq-100, measured through QQQ	S&P 500, measured through SPY
Cost and size
Measure	FTQI	SEPI
Expense ratio	0.75%	0.54%
Net assets, FTQI as of Nov 3, 2026 and SEPI as of Jun 30, 2026	$997m	$152m
Holdings
Measure	FTQI	SEPI
Holdings in common	31%

ETFIQ Distribution Coverage Score · SEPI scores higher How much of what it paid out did its total return cover?

IQ Income Score74FTQI85.9SEPI

How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed

FTQI 74

SEPI 85.9

0.3, the lowest in this set 99.7, the highest

One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →

Method

Risk and return

Sep 19, 2025 to Oct 30, 2026 · 58 weekly returns

FTQI SEPI

Return

Total return edge FTQI (slight) +19.7% +18.9%

Annualized edge FTQI (slight) +17.5% +16.8%

Price return edge SEPI +4.3% +8.5%

Risk

Volatility edge FTQI 8.9% 10.2%

Max drawdown edge FTQI −4.7% −6.6%

Downside capture 58.3% 77.5%

Beta 0.45 0.80

Risk-adjusted

Sharpe edge FTQI 1.44 1.20

Sortino edge FTQI 2.64 2.13

Treynor 0.123 0.153

Calmar edge FTQI 3.75 2.54

Against the benchmark

Alpha −2.0% a year +4.6% a year

Alpha t-stat −0.90 1.36

Information ratio −0.84 0.65

Tracking error 13.4% 4.2%

Each against its own benchmark: FTQI against QQQ, Jan 17, 2014 to Oct 30, 2026; SEPI against SPY, Sep 19, 2025 to Oct 30, 2026.

Reading

From Sep 2025 to Oct 2026, FTQI returned slightly more: +19.7% to +18.9%. FTQI swung less: 8.9% to 10.2%. FTQI fell less at its worst: −4.7% to −6.6%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: FTQI vs SEPI: Dividend Yield & Total Return
Measure	FTQI	SEPI	Edge	How it is measured
Return
Total return	+19.7%	+18.9%	FTQI (slight)	Price change plus distributions, reinvested.
Annualized	+17.5%	+16.8%	FTQI (slight)	Total return as a yearly rate.
Price return	+4.3%	+8.5%	SEPI	Price change alone, distributions left out.
Risk
Volatility	8.9%	10.2%	FTQI	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	4.8%	5.8%	FTQI	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−4.7%	−6.6%	FTQI	Deepest fall from a high to the low after it.
Upside capture	31.2%	83.6%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	58.3%	77.5%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.45	0.80	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.55	0.88	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	1.44	1.20	FTQI	Return above Treasury bills per unit of volatility.
Sortino	2.64	2.13	FTQI	Return above Treasury bills per unit of downside deviation.
Treynor	0.123	0.153		Return above Treasury bills per unit of beta.
Calmar	3.75	2.54	FTQI	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	QQQ	SPY		The ETF each fund is measured against.
Alpha	−2.0% a year	+4.6% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.90	1.36	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−6.4% to +2.4%	−2.2% to +11.5%	Includes zero	The 95% range for the yearly alpha.
Information ratio	−0.84	0.65		Return against its benchmark per unit of tracking error.
Tracking error	13.4%	4.2%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 58 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

31%

By the books each fund has filed, FTQI and SEPI hold 31% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.

50%

0 half 100%

half

31% in common

Positions both hold · largest shared weight first FTQI SEPI

Apple Inc. 8.98% 5.45%

Advanced Micro Devices, Inc. 4.73% 7.84%

NVIDIA Corporation 6.22% 4.20%

Amazon.com, Inc. 4.23% 3.50%

Meta Platforms, Inc. (Class A) 2.67% 2.90%

Micron Technology, Inc. 2.01% 6.79%

Alphabet Inc. (Class A) 1.72% 4.86%

Broadcom Inc. 1.64% 3.20%

Microsoft Corporation 1.55% 3.55%

Netflix, Inc. 1.14% 1.26%

eBay Inc. 0.94% 2.57%

Caterpillar Inc. 0.66% 7.49%

Only in one fund ↓

Only in FTQI

Cisco Systems, Inc. 3.10%

Tesla, Inc. 3.05%

Palantir Technologies Inc. (Class A) 2.60%

Alphabet Inc. (Class C) 1.72%

Seagate Technology Holdings Plc 1.59%

Costco Wholesale Corporation 1.54%

AbbVie Inc. 1.48%

Palo Alto Networks, Inc. 1.43%

Only in SEPI

GOLDMAN SACHS GROUP INC (THE) 4.07%

MERCK & COMPANY INC 2.78%

ARISTA NETWORKS INC 2.27%

DUKE ENERGY CORP 2.17%

GENERAL MOTORS COMPANY 2.03%

CARDINAL HEALTH INC 1.98%

BERKSHIRE HATHAWAY INC 1.94%

AKAMAI TECHNOLOGIES INC 1.87%

Check overlap with more funds →

Side by side

FTQI First Trust Nasdaq BuyWrite Income ETF · Covered call on QQQ, paying monthly SEPI Shelton Equity Premium Income ETF · Covered call on SPY, paying monthly

Issuer First Trust Shelton

Strategy covered call covered call

Benchmark Nasdaq-100 (QQQ) S&P 500 (SPY)

Pays monthly monthly

Payout rate, annualized 12.3% 8.5%

Expense ratio 0.75% 0.54%

Cash paid, 1 year 12.1% 8.9%

Price change, 1 year +3.5% +8.3%

Total return, 1 year +16.5% +17.9%

Benchmark return, 1 year +12.3% +14.8%

Ahead or behind +4.2 pts +3.1 pts

Return of capital, latest estimate 99% 99%

Age 12.8 years 1.2 years

Net assets, FTQI as of Nov 3, 2026 and SEPI as of Jun 30, 2026 $997m $152m

As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.

Window by window

Window by window: FTQI vs SEPI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	FTQI	SEPI	FTQI	SEPI	FTQI	SEPI
3 months	+0.4%	−0.1%	3.0%	2.1%	+3.8 pts	0.0 pts
6 months	+6.6%	+6.8%	6.0%	4.4%	+6.9 pts	+1.8 pts
1 year	+16.5%	+17.9%	12.1%	8.9%	+4.3 pts	+3.1 pts
3 years	+60.8%	–	38.1%	–	−30.5 pts	–
Since launchNot the same days: FTQI Jan 2014 · SEPI Sep 2025	+138.8%	+23.5%	81.1%	10.0%	−641.3 pts	+3.7 pts

– means no data for this window. Open this comparison in the app →

Client brief

No client brief for this pair: the two funds' holdings are dated 126 days apart.

Alert

About each fund

FTQI

Over the year to Nov 4, 2026, FTQI paid 12.1% of its starting value in cash distributions while its price rose 3.5%. With every distribution reinvested, the fund returned +16.5%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was ahead by 4.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 12.3%, paid monthly. First Trust estimates that 99% of the distribution paid Oct 30, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

SEPI

Over the year to Nov 4, 2026, SEPI paid 8.9% of its starting value in cash distributions while its price rose 8.3%. With every distribution reinvested, the fund returned +17.9%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was ahead by 3.1 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 8.5%, paid monthly. Shelton estimates that 99% of the distribution paid Sep 30, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which paid more, FTQI or SEPI?: Over the year to Nov 4, 2026, FTQI paid 12.1% of its starting price in cash and SEPI paid 8.9%, so FTQI paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, FTQI or SEPI?: With every distribution reinvested, FTQI returned +16.5% and SEPI +17.9% over the year to Nov 4, 2026.
Which is cheaper, FTQI or SEPI?: FTQI charges 0.75% a year and SEPI charges 0.54%, so SEPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

FTQI vs XSPI FTQI vs JOYT FTQI vs XYLG FTQI vs XDTE SEPI vs GPIQ SEPI vs QYLD SEPI vs QQQI SEPI vs QLDY

Where to next

Nasdaq-100 (QQQ) →S&P 500 (SPY) →FTQI on its own →SEPI on its own →FTQI dividend history →FTQI holdings →SEPI dividend history →SEPI holdings →Method →Standards and sources →

Sources and dates

FTQI filings on SEC EDGAR ↗

FTQI prospectus with the expense ratio (SEC) ↗

FTQI 19a-1 distribution notice ↗

First Trust page for FTQI ↗

SEPI filings on SEC EDGAR ↗

SEPI prospectus with the expense ratio (SEC) ↗

SEPI 19a-1 distribution notice ↗

Shelton website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, FTQI against SEPI, data as of Nov 4, 2026. https://etfiq.com/compare/income/ftqi-vs-sepi

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