Data as of Nov 4, 2026.
SEPI vs TPAY: Dividend Yield & Total Return
SEPI and TPAY both write options for income.
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Net assets: $152m on Jun 30, 2026 for Shelton Equity Premium Income ETF, and $2.1m on Nov 4, 2026 for Roundhill S&P 500 Target 10 Managed Distribution ETF.
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. Total return, distributions reinvested. SEPI over 1 year: paid 8.9%, price +8.3%, total +17.9%, SPY +14.8%, +3.1 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.1 pt behind VOO
TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.
VOO
+12.6%
TPAY
+11.6%
6.6% of it arrived as cash
1 pt behind VOO
Total return, distributions reinvested
1 pt behind VOO
TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.
VOO
+12.6%
TPAY
+11.6%
1 pt behind VOO
6.6% of it arrived as cash. Both charts share one scale, 0 to +17.9%. TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.
Both charts share one scale, 0 to +17.9%. Data to Nov 4, 2026.Pair scorecard
TPAY costs 0.05 points a year less.
Points (pts) are percentage points.
| Measure | SEPI | TPAY |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +17.9% | not published |
| Price change | rose 8.3% (1 year) | rose 4.6% (since Feb 18, 2026) |
| Return of capital, issuer estimate | 99% of the Sep 30, 2026 payment | 100% of the Oct 15, 2026 payment |
| Against its benchmark | ||
| Benchmark | S&P 500, measured through SPY | Vanguard S&P 500 ETF, measured through VOO |
| Against its benchmark, same days | ahead by 3.1 pts | behind by 1.0 pts |
| Cost and size | ||
| Expense ratio | 0.54% | 0.49% |
| Net assets, SEPI as of Jun 30, 2026 and TPAY as of Nov 4, 2026 | $152m | $2.1m |
| Holdings | ||
| Holdings in common | 0% | |
What they share
By the books each fund has filed, SEPI and TPAY hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 4, 2026.
half
0% in common
Only in one fund ↓
Side by side
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
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | SEPI | TPAY | SEPI | TPAY | SEPI | TPAY |
| 3 months | −0.1% | −0.8% | 2.1% | 2.3% | 0.0 pts | −0.7 pts |
| 6 months | +6.8% | +4.2% | 4.4% | 4.7% | +1.8 pts | −0.8 pts |
| 1 year | +17.9% | – | 8.9% | – | +3.1 pts | – |
| Since launchNot the same days: SEPI Sep 2025 · TPAY Feb 2026 | +23.5% | +11.6% | 10.0% | 6.6% | +3.7 pts | −1.1 pts |
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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). That is a tax label, not a measure of erosion.
TPAY
Over the period from its first trade on Feb 18, 2026 to Nov 4, 2026, TPAY paid 6.6% of its starting value in cash distributions while its price rose 4.6%. With every distribution reinvested, the fund returned +11.6%. Vanguard S&P 500 ETF (VOO) returned +12.6% over the same days, so a holder was behind by 1.0 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 9.5%, paid monthly. Roundhill estimates that 100% of the distribution paid Oct 15, 2026 was a return of capital (its 19a-1 notice).
Questions people ask
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, SEPI against TPAY, data as of Nov 4, 2026. https://etfiq.com/compare/income/sepi-vs-tpay
ETFIQ. (Nov 4, 2026). SEPI against TPAY. Retrieved from https://etfiq.com/compare/income/sepi-vs-tpay
[SEPI against TPAY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/sepi-vs-tpay)
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