Data as of .
PAPI vs SEPI: which paid, and which earned it?
Over the year PAPI paid 7.9% of its price in cash against SEPI’s 7.5%, though SEPI returned more with it reinvested.
ETFIQ Return Stability Score: SEPI scores higher
Was the payout funded by returns, or by your own capital?
A percentile among the 173 income ETFs writing on an index or proxy. It is a position in a set, not a rating, and neither end of it is a recommendation. All income ETFs ranked by it · How it is computed
What they hold in common
By the books each fund has filed, PAPI and SEPI hold 7% of their money in the same securities at the same weight.
| Holding | PAPI | SEPI |
|---|---|---|
| Alphabet, Inc. | 0.59% | 4.68% |
| Merck & Co., Inc. | 0.59% | 2.67% |
| Cardinal Health, Inc. | 0.59% | 1.91% |
| Johnson & Johnson | 0.56% | 3.31% |
| Norfolk Southern Corp. | 0.52% | 1.14% |
| RTX Corp. | 0.52% | 1.26% |
| Duke Energy Corp. | 0.51% | 2.08% |
| United Parcel Service, Inc. | 0.51% | 0.61% |
| Procter & Gamble Co. (The) | 0.49% | 0.83% |
| Verizon Communications, Inc. | 0.48% | 0.81% |
| Exxon Mobil Corp. | 0.47% | 3.08% |
| Salesforce, Inc. | 0.46% | 1.06% |
| Only in PAPI | Only in SEPI |
|---|---|
| Corning, Inc. 1.01% | ADVANCED MICRO DEVICES INC 7.54% |
| TD SYNNEX Corp. 0.81% | CATERPILLAR INC 7.20% |
| Cisco Systems, Inc. 0.77% | MICRON TECHNOLOGY INC 6.53% |
| Power Integrations, Inc. 0.73% | APPLE INC 5.24% |
| Royalty Pharma plc 0.73% | NVIDIA CORP 4.04% |
| Millicom International Cellular SA 0.72% | GOLDMAN SACHS GROUP INC (THE) 3.91% |
| Avnet, Inc. 0.71% | AMAZON.COM INC 3.36% |
| Texas Instruments, Inc. 0.71% | BROADCOM INC 3.08% |
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.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| PAPI | SEPI | PAPI | SEPI | PAPI | SEPI | |
| 3 months | +4.7% | +5.4% | 2.0% | 2.1% | +2.5 pts | +3.2 pts |
| 6 months | +5.6% | +20.5% | 4.0% | 4.7% | −12.4 pts | +2.5 pts |
| 1 year | +12.8% | +21.8% | 7.9% | 7.5% | −3.8 pts | +5.2 pts |
| Since launch | +35.6% | +24.4% | 22.5% | 7.7% | −49.6 pts | +5.4 pts |
| PAPI Parametric Equity Premium Income ETF Covered call on SPY, paying monthly | SEPI Shelton Equity Premium Income ETF Covered call on SPY, paying monthly | |
|---|---|---|
| Issuer | Parametric | Shelton |
| Strategy | covered call | covered call |
| Benchmark | S&P 500 (SPY) | S&P 500 (SPY) |
| Pays | monthly | monthly |
| Payout rate, annualized | 7.2% | 8.3% |
| Expense ratio | 0.29% | 0.54% |
| Cash paid, 1 year | 7.9% | 7.5% |
| Price change, 1 year | +4.5% | +13.4% |
| Total return, 1 year | +12.8% | +21.8% |
| Benchmark return, 1 year | +16.6% | +16.6% |
| Ahead or behind | −3.8 pts | +5.2 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 1065 days | 375 days |
| Net assets | $400m | $152m |
PAPI in plain words
Over the year to Sep 18, 2026, PAPI paid 7.9% of its starting value in cash distributions while its price rose 4.5%. With every distribution reinvested, the fund returned +12.8%. S&P 500 (SPY) returned +16.6% over the same days, so a holder was behind by 3.8 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 7.2%, 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 paid more, PAPI or SEPI?
- Over the year to Sep 18, 2026, PAPI paid 7.9% of its starting price in cash and SEPI paid 7.5%, so PAPI paid more. Cash paid is not the same as money made: the price change matters too.
- Which returned more once distributions are counted, PAPI or SEPI?
- With every distribution reinvested, PAPI returned +12.8% and SEPI returned +21.8% over the year to Sep 18, 2026, so SEPI returned more.
- Which is cheaper, PAPI or SEPI?
- PAPI charges 0.29% a year and SEPI charges 0.54%, so PAPI 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, PAPI against SEPI, data as of Sep 18, 2026. https://etfiq.com/compare/income/papi-vs-sepi Free to use with attribution; the underlying files are at Open data.