SEPI vs. OVL
SEPI (Shelton Equity Premium Income ETF) and OVL (Overlay Shares Large Cap Equity ETF) are both Derivative Income funds. Both are actively managed. Their correlation of 0.89 suggests significant overlap in exposure. SEPI charges 0.54%/yr vs 0.79%/yr for OVL.
Performance
SEPI vs. OVL - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SEPI having a 9.44% return and OVL slightly higher at 9.88%.
SEPI
- 1D
- -0.61%
- 1M
- -0.08%
- YTD
- 9.44%
- 6M
- 9.06%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OVL
- 1D
- -1.51%
- 1M
- -1.82%
- YTD
- 9.88%
- 6M
- 8.68%
- 1Y
- 27.58%
- 3Y*
- 22.39%
- 5Y*
- 13.33%
- 10Y*
- —
SEPI vs. OVL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SEPI Shelton Equity Premium Income ETF | 9.44% | 6.25% |
OVL Overlay Shares Large Cap Equity ETF | 9.88% | 6.75% |
Correlation
The correlation between SEPI and OVL is 0.89, 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 | 0.89 |
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Return for Risk
SEPI vs. OVL — Risk / Return Rank
SEPI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
OVL
SEPI vs. OVL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Shelton Equity Premium Income ETF (SEPI) and Overlay Shares Large Cap Equity ETF (OVL). 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 | OVL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.34 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.17 | — |
| Martin ratioReturn relative to average drawdown | — | 13.34 | — |
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Drawdowns
SEPI vs. OVL - Drawdown Comparison
The maximum SEPI drawdown since its inception was -7.66%, smaller than the maximum OVL drawdown of -35.49%. Use the drawdown chart below to compare losses from any high point for SEPI and OVL.
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Drawdown Indicators
| SEPI | OVL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.66% | -35.49% | +27.83% |
Max Drawdown (1Y)Largest decline over 1 year | — | -8.73% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -21.73% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.23% | — |
Current DrawdownCurrent decline from peak | -1.87% | -3.85% | +1.98% |
Average DrawdownAverage peak-to-trough decline | -1.45% | -6.69% | +5.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.07% | — |
Volatility
SEPI vs. OVL - Volatility Comparison
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Volatility by Period
| SEPI | OVL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.43% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.39% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 12.84% | 14.67% | -1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.84% | 19.90% | -7.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.84% | 22.55% | -9.71% |
SEPI vs. OVL - Expense Ratio Comparison
SEPI has a 0.54% expense ratio, which is lower than OVL's 0.79% expense ratio.
Dividends
SEPI vs. OVL - Dividend Comparison
SEPI's dividend yield for the trailing twelve months is around 4.75%, less than OVL's 6.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
OVL Overlay Shares Large Cap Equity ETF | 6.36% | 2.99% | 3.10% | 3.33% | 3.85% | 3.63% | 2.43% | 0.50% |
SEPI Shelton Equity Premium Income ETF | 4.75% | 1.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SEPI and OVL have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SEPI is cheaper at 0.54% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SEPI is cheaper with a 0.54% expense ratio, compared with 0.79% for OVL.
OVL has the higher dividend yield at 6.36%, compared with 4.75% for SEPI.
They also come from different issuers: Shelton and Liquid Strategies. Their fees differ too: 0.54% for SEPI and 0.79% for OVL.
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