Data as of .
SEPI vs ULTY: which paid, and which earned it?
Over the year ULTY paid 44.9% 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, SEPI and ULTY hold 15% of their money in the same securities at the same weight.
| Holding | SEPI | ULTY |
|---|---|---|
| ADVANCED MICRO DEVICES INC | 7.54% | 5.23% |
| ALPHABET INC | 4.68% | 4.39% |
| CATERPILLAR INC | 7.20% | 3.07% |
| NVIDIA CORP | 4.04% | 2.36% |
| Only in SEPI | Only in ULTY |
|---|---|
| MICRON TECHNOLOGY INC 6.53% | MercadoLibre Inc 4.99% |
| APPLE INC 5.24% | Lumentum Holdings Inc 4.75% |
| GOLDMAN SACHS GROUP INC (THE) 3.91% | Strategy Inc 4.66% |
| MICROSOFT CORP 3.42% | Comfort Systems USA Inc 4.61% |
| AMAZON.COM INC 3.36% | Lam Research Corp 4.34% |
| JOHNSON & JOHNSON 3.31% | Coherent Corp 4.30% |
| EXXON MOBIL CORP 3.08% | Palantir Technologies Inc 4.27% |
| BROADCOM INC 3.08% | Analog Devices Inc 4.11% |
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 | |||
|---|---|---|---|---|---|---|
| SEPI | ULTY | SEPI | ULTY | SEPI | ULTY | |
| 3 months | +5.4% | −1.1% | 2.1% | 13.7% | +3.2 pts | −3.3 pts |
| 6 months | +20.5% | +14.0% | 4.7% | 30.1% | +2.5 pts | −4.0 pts |
| 1 year | +21.8% | −7.8% | 7.5% | 44.9% | +5.2 pts | −24.3 pts |
| Since launch | +24.4% | +10.7% | 7.7% | 86.9% | +5.4 pts | −44.1 pts |
| SEPI Shelton Equity Premium Income ETF Covered call on SPY, paying monthly | ULTY YieldMax(R) Ultra Option Income Strategy ETF Synthetic covered call on SPY, paying weekly | |
|---|---|---|
| Issuer | Shelton | YieldMax |
| Strategy | covered call | synthetic covered call |
| Benchmark | S&P 500 (SPY) | S&P 500 (SPY), used as a default proxy |
| Pays | monthly | weekly |
| Payout rate, annualized | 8.3% | 59.8% |
| Expense ratio | 0.54% | 1.30% |
| Cash paid, 1 year | 7.5% | 44.9% |
| Price change, 1 year | +13.4% | −54.1% |
| Total return, 1 year | +21.8% | −7.8% |
| Benchmark return, 1 year | +16.6% | +16.6% |
| Ahead or behind | +5.2 pts | −24.3 pts |
| Return of capital, latest estimate | not published | 100% |
| Age | 375 days | 932 days |
| Net assets | $152m | $721m |
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.
ULTY in plain words
Over the year to Sep 18, 2026, ULTY paid 44.9% of its starting value in cash distributions while its price fell 54.1%. With every distribution reinvested, the fund returned −7.8%. S&P 500 (SPY), used as a default proxy returned +16.6% over the same days, so a holder was behind by 24.3 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 59.8%, paid weekly. YieldMax estimates that 100% of the distribution paid Sep 17, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
Questions people ask
- Which paid more, SEPI or ULTY?
- Over the year to Sep 18, 2026, SEPI paid 7.5% of its starting price in cash and ULTY paid 44.9%, so ULTY paid more. Cash paid is not the same as money made: the price change matters too.
- Which returned more once distributions are counted, SEPI or ULTY?
- With every distribution reinvested, SEPI returned +21.8% and ULTY returned −7.8% over the year to Sep 18, 2026, so SEPI returned more.
- Which is cheaper, SEPI or ULTY?
- SEPI charges 0.54% a year and ULTY charges 1.30%, so SEPI 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, SEPI against ULTY, data as of Sep 18, 2026. https://etfiq.com/compare/income/sepi-vs-ulty Free to use with attribution; the underlying files are at Open data.