Data as of Nov 4, 2026.
SEPI vs ULTY: Dividend Yield & Total Return
Over the year to Nov 4, 2026, ULTY paid 46.0% of its price in cash against SEPI’s 8.9%, though SEPI returned more with it reinvested.
askIQ about this page
askIQ about SEPI and ULTY
Net assets: $152m on Jun 30, 2026 for Shelton Equity Premium Income ETF, and $576m on Nov 3, 2026 for YieldMax Ultra Option Income Strategy 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% 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%
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, 2026.4.4 pts ahead of its own holdings
ULTY over 1 year: paid 46.0%, price −55.5%, total −12.4%, its own holdings −16.8%, +4.4 pts. Data to Nov 4, 2026.
its own holdings
−16.8%
ULTY
−12.4%
4.4 pts ahead of its own holdings
Total return, distributions reinvested
4.4 pts ahead of its own holdings
ULTY over 1 year: paid 46.0%, price −55.5%, total −12.4%, its own holdings −16.8%, +4.4 pts. Data to Nov 4, 2026.
its own holdings
−16.8%
ULTY
−12.4%
46.0% of it arrived as cash. Both charts share one scale, with zero at the line. ULTY over 1 year: paid 46.0%, price −55.5%, total −12.4%, its own holdings −16.8%, +4.4 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
SEPI costs 0.76 points a year less; their one-year returns differ by 30.3 points.
Points (pts) are percentage points.
| Measure | SEPI | ULTY |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +17.9% | −12.4% |
| Price change, 1 year | rose 8.3% | fell 55.5% |
| Return of capital, issuer estimate | 99% of the Sep 30, 2026 payment | 100% of the Nov 5, 2026 payment |
| Against its benchmark | ||
| Benchmark | S&P 500, measured through SPY | its own holdings |
| Cost and size | ||
| Expense ratio | 0.54% | 1.30% |
| Net assets, SEPI as of Jun 30, 2026 and ULTY as of Nov 3, 2026 | $152m | $576m |
| Holdings | ||
| Holdings in common | 17% | |
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
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 →
Risk and return
Sep 19, 2025 to Oct 30, 2026 · 58 weekly returnsFrom Sep 2025 to Oct 2026, SEPI returned more: +18.9% to −18.1%. SEPI swung less: 10.2% to 19.9%. SEPI fell less at its worst: −6.6% to −21.8%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | SEPI | ULTY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +18.9% | −18.1% | SEPI | Price change plus distributions, reinvested. |
| Annualized | +16.8% | −16.4% | SEPI | Total return as a yearly rate. |
| Price return | +8.5% | −62.0% | SEPI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 10.2% | 19.9% | SEPI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 5.8% | 16.7% | SEPI | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −6.6% | −21.8% | SEPI | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 1.20 | −0.99 | SEPI | Return above Treasury bills per unit of volatility. |
| Sortino | 2.13 | −1.18 | SEPI | Return above Treasury bills per unit of downside deviation. |
| Calmar | 2.54 | −0.75 | SEPI | Annualized return divided by the max drawdown. |
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
By the books each fund has filed, SEPI and ULTY hold 17% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 4, 2026.
half
17% 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 | ULTY | SEPI | ULTY | SEPI | ULTY |
| 3 months | −0.1% | −8.3% | 2.1% | 14.3% | 0.0 pts | +3.4 pts |
| 6 months | +6.8% | −9.9% | 4.4% | 26.6% | +1.8 pts | +1.6 pts |
| 1 year | +17.9% | −12.4% | 8.9% | 46.0% | +3.1 pts | +4.4 pts |
| Since launchNot the same days: SEPI Sep 2025 · ULTY Feb 2024 | +23.5% | −1.9% | 10.0% | 87.9% | +3.7 pts | not measured |
No client brief for this pair: the two funds' holdings are dated 127 days apart.
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.
ULTY
Over the year to Nov 4, 2026, ULTY paid 46.0% of its starting value in cash distributions while its price fell 55.5%. With every distribution reinvested, the fund returned −12.4%. ULTY's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Nov 2, 2026) returned −16.8% over the same days, so a holder was ahead by 4.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 60.9%, paid weekly. YieldMax estimates that 100% of the distribution paid Nov 5, 2026 was a return of capital (its 19a-1 notice).
Questions people ask
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, SEPI against ULTY, data as of Nov 4, 2026. https://etfiq.com/compare/income/sepi-vs-ulty
ETFIQ. (Nov 4, 2026). SEPI against ULTY. Retrieved from https://etfiq.com/compare/income/sepi-vs-ulty
[SEPI against ULTY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/sepi-vs-ulty)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.