SEPI vs. GPIX

Last updated Jun 24, 2026

SEPI (Shelton Equity Premium Income ETF) and GPIX (Goldman Sachs S&P 500 Premium Income ETF) are both Derivative Income funds. Both are actively managed. Their correlation of 0.90 suggests significant overlap in exposure. SEPI charges 0.54%/yr vs 0.29%/yr for GPIX.

Performance

SEPI vs. GPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shelton Equity Premium Income ETF (SEPI) and Goldman Sachs S&P 500 Premium Income ETF (GPIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEPI achieves a 9.44% return, which is significantly higher than GPIX's 7.99% return.

SEPI

• 1D: -0.61%
• 1M: -0.08%
• YTD: 9.44%
• 6M: 9.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GPIX

• 1D: -1.30%
• 1M: -0.78%
• YTD: 7.99%
• 6M: 7.32%
• 1Y: 22.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SEPI vs. GPIX - Yearly Performance Comparison

	2026 (YTD)	2025
SEPI Shelton Equity Premium Income ETF	9.44%	6.25%
GPIX Goldman Sachs S&P 500 Premium Income ETF	7.99%	5.82%

Correlation

The correlation between SEPI and GPIX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 8, 2025	0.90

Return for Risk

SEPI vs. GPIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SEPI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

GPIX

GPIX Risk / Return Rank: 66
GPIX Sharpe Ratio Rank: 65
GPIX Sortino Ratio Rank: 63
GPIX Omega Ratio Rank: 67
GPIX Calmar Ratio Rank: 60
GPIX Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SEPI vs. GPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Shelton Equity Premium Income ETF (SEPI) and Goldman Sachs S&P 500 Premium Income ETF (GPIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SEPI	GPIX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.05	—
Sortino ratio: Return per unit of downside risk	—	2.81	—
Omega ratio: Gain probability vs. loss probability	—	1.39	—
Calmar ratio: Return relative to maximum drawdown	—	2.88	—
Martin ratio: Return relative to average drawdown	—	13.99	—

Drawdowns

SEPI vs. GPIX - Drawdown Comparison

The maximum SEPI drawdown since its inception was -7.66%, smaller than the maximum GPIX drawdown of -17.50%. Use the drawdown chart below to compare losses from any high point for SEPI and GPIX.

Drawdown Indicators

	SEPI	GPIX	Difference
Max Drawdown Largest peak-to-trough decline	-7.66%	-17.50%	+9.84%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.71%	—
Current Drawdown Current decline from peak	-1.87%	-2.22%	+0.35%
Average Drawdown Average peak-to-trough decline	-1.45%	-1.48%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.58%	—

Volatility

Volatility by Period

	SEPI	GPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.26%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.75%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.84%	10.82%	+2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.84%	13.89%	-1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.84%	13.89%	-1.05%

SEPI vs. GPIX - Expense Ratio Comparison

SEPI has a 0.54% expense ratio, which is higher than GPIX's 0.29% expense ratio.

Dividends

SEPI vs. GPIX - Dividend Comparison

SEPI's dividend yield for the trailing twelve months is around 4.75%, less than GPIX's 8.14% yield.

Position	TTM	2025	2024	2023
GPIX Goldman Sachs S&P 500 Premium Income ETF	8.14%	8.01%	7.45%	1.40%
SEPI Shelton Equity Premium Income ETF	4.75%	1.37%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SEPI and GPIX in my portfolio?

With a correlation of 0.90, SEPI and GPIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, SEPI or GPIX?

On fees, GPIX is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SEPI or GPIX?

GPIX is cheaper with a 0.29% expense ratio, compared with 0.54% for SEPI.

Which ETF pays a higher dividend yield, SEPI or GPIX?

GPIX has the higher dividend yield at 8.14%, compared with 4.75% for SEPI.

What is the main difference between SEPI and GPIX?

They also come from different issuers: Shelton and Goldman Sachs. Their fees differ too: 0.54% for SEPI and 0.29% for GPIX.