SEPI vs. PAPI
SEPI (Shelton Equity Premium Income ETF) and PAPI (Parametric Equity Premium Income ETF) are both Derivative Income funds. Both are actively managed. At a 0.23 correlation, their price movements are largely independent. SEPI charges 0.54%/yr vs 0.29%/yr for PAPI.
Performance
SEPI vs. PAPI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SEPI achieves a 11.13% return, which is significantly higher than PAPI's 5.81% return.
SEPI
- 1D
- -0.35%
- 1M
- 5.29%
- YTD
- 11.13%
- 6M
- 11.62%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAPI
- 1D
- -0.26%
- 1M
- 0.28%
- YTD
- 5.81%
- 6M
- 5.78%
- 1Y
- 12.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SEPI vs. PAPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SEPI Shelton Equity Premium Income ETF | 11.13% | 6.85% |
PAPI Parametric Equity Premium Income ETF | 5.81% | 0.98% |
Correlation
The correlation between SEPI and PAPI is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 9, 2025 | 0.23 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SEPI vs. PAPI — Risk / Return Rank
SEPI
PAPI
SEPI vs. PAPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Shelton Equity Premium Income ETF (SEPI) and Parametric Equity Premium Income ETF (PAPI). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Loading charts...
Sharpe Ratios by Period
| SEPI | PAPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.19 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.11 | 0.88 | +1.23 |
Drawdowns
SEPI vs. PAPI - Drawdown Comparison
The maximum SEPI drawdown since its inception was -7.66%, smaller than the maximum PAPI drawdown of -14.27%. Use the drawdown chart below to compare losses from any high point for SEPI and PAPI.
Loading charts...
Drawdown Indicators
| SEPI | PAPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.66% | -14.27% | +6.61% |
Max Drawdown (1Y)Largest decline over 1 year | — | -6.86% | — |
Current DrawdownCurrent decline from peak | -0.35% | -5.06% | +4.71% |
Average DrawdownAverage peak-to-trough decline | -1.45% | -2.73% | +1.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.53% | — |
Volatility
SEPI vs. PAPI - Volatility Comparison
Loading charts...
Volatility by Period
| SEPI | PAPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.23% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 7.00% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 12.53% | 10.55% | +1.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.53% | 11.76% | +0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.53% | 11.76% | +0.77% |
SEPI vs. PAPI - Expense Ratio Comparison
SEPI has a 0.54% expense ratio, which is higher than PAPI's 0.29% expense ratio.
Dividends
SEPI vs. PAPI - Dividend Comparison
SEPI's dividend yield for the trailing twelve months is around 4.68%, less than PAPI's 7.62% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
PAPI Parametric Equity Premium Income ETF | 7.62% | 7.59% | 7.07% | 1.45% |
SEPI Shelton Equity Premium Income ETF | 4.68% | 1.37% | 0.00% | 0.00% |
Frequently Asked Questions
SEPI and PAPI have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PAPI is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PAPI is cheaper with a 0.29% expense ratio, compared with 0.54% for SEPI.
PAPI has the higher dividend yield at 7.62%, compared with 4.68% for SEPI.
They also come from different issuers: Shelton and Morgan Stanley. Their fees differ too: 0.54% for SEPI and 0.29% for PAPI.
Find the right allocation for SEPI and PAPI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer