Data as of .
SCEP vs SPYI: which paid, and which earned it?
SCEP and SPYI both write options for income.
What they hold in common
By the books each fund has filed, SCEP and SPYI hold 39% of their money in the same securities at the same weight.
| Holding | SCEP | SPYI |
|---|---|---|
| APPLE INC | 5.71% | 7.52% |
| NVIDIA CORP | 5.70% | 8.28% |
| AMAZON.COM INC | 4.68% | 3.82% |
| MICROSOFT CORP | 3.49% | 5.62% |
| ALPHABET INC | 5.98% | 3.12% |
| BROADCOM INC | 5.61% | 2.59% |
| META PLATFORMS INC | 2.23% | 2.22% |
| ADVANCED MICRO DEVICES INC | 2.19% | 1.41% |
| JOHNSON & JOHNSON | 1.54% | 0.99% |
| VISA INC | 1.98% | 0.93% |
| WALMART INC | 1.05% | 0.72% |
| ABBVIE INC | 1.62% | 0.71% |
| Only in SCEP | Only in SPYI |
|---|---|
| JP MORGAN CHASE & COMPANY 3.55% | Alphabet Inc 2.50% |
| WILLIAMS COMPANIES INC (THE) 2.15% | Micron Technology Inc 1.74% |
| VERTIV HOLDINGS COMPANY 1.82% | Tesla Inc 1.58% |
| CHUBB LTD (SWITZERLAND) 1.56% | Berkshire Hathaway Inc 1.43% |
| SHERWIN-WILLIAMS COMPANY (THE) 1.26% | JPMORGAN CHASE & CO. 1.43% |
| ELI LILLY & COMPANY 1.25% | Eli Lilly & Co 1.42% |
| MKS INC 1.22% | ExxonMobil Holdings Corp 1.03% |
| PROCTER & GAMBLE COMPANY (THE) 1.03% | Intel Corp 0.82% |
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 21, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| SCEP | SPYI | SCEP | SPYI | SCEP | SPYI | |
| 3 months | −0.1% | +3.1% | 1.7% | 3.0% | −2.4 pts | +0.9 pts |
| 6 months | +8.3% | +14.4% | 3.7% | 6.5% | −9.7 pts | −3.6 pts |
| 1 year | not published | +15.3% | not published | 13.1% | not published | −1.2 pts |
| 3 years | not published | +57.2% | not published | 38.6% | not published | −21.2 pts |
| Since launch | +3.5% | +77.1% | 5.0% | 50.3% | −8.2 pts | −25.3 pts |
| SCEP STERLING CAPITAL HEDGED EQUITY PREMIUM INCOME ETF Covered call on SPY, paying monthly | SPYI NEOS S&P 500(R) High Income ETF Option income on SPY, paying monthly | |
|---|---|---|
| Issuer | Sterling Capital | NEOS |
| Strategy | covered call | option income |
| Benchmark | S&P 500 (SPY) | S&P 500 (SPY) |
| Pays | monthly | monthly |
| Payout rate, annualized | 7.1% | 12.1% |
| Expense ratio | 0.65% | 0.68% |
| Cash paid, 1 year | 5.0% (since launch on Dec 11, 2025) | 13.1% |
| Price change, 1 year | −1.6% | +1.2% |
| Total return, 1 year | +3.5% (since launch on Dec 11, 2025) | +15.3% |
| Benchmark return, 1 year | +11.7% | +16.6% |
| Ahead or behind | −8.2 pts | −1.2 pts |
| Return of capital, latest estimate | not published | 93% |
| Age | 281 days | 1480 days |
| Net assets | $235m | $12.2bn |
SCEP in plain words
Over the period since launch on Dec 11, 2025 to Sep 18, 2026, SCEP paid 5.0% of its starting value in cash distributions while its price fell 1.6%. With every distribution reinvested, the fund returned +3.5%. S&P 500 (SPY) returned +11.7% over the same days, so a holder was behind by 8.2 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 7.1%, paid monthly.
SPYI in plain words
Over the year to Sep 18, 2026, SPYI paid 13.1% of its starting value in cash distributions while its price rose 1.2%. With every distribution reinvested, the fund returned +15.3%. S&P 500 (SPY) returned +16.6% over the same days, so a holder was behind by 1.2 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 12.1%, paid monthly. NEOS estimates that 93% of the distribution paid Jun 18, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
Questions people ask
- Which is cheaper, SCEP or SPYI?
- SCEP charges 0.65% a year and SPYI charges 0.68%, so SCEP 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, SCEP against SPYI, data as of Sep 18, 2026. https://etfiq.com/compare/income/scep-vs-spyi Free to use with attribution; the underlying files are at Open data.