CEPI vs YETH

CEPIBREX Crypto Equity Premium Income ETF

YETHCRoundhill Ether Covered Call Strategy ETF

In short

CEPI Crypto exposure without the coins. CEPI owns a basket of miners, exchanges and digital-payment stocks, then sells options against them for income, so the sector's volatility becomes the fuel for the premium.

YETH Ether's volatility, repackaged as weekly income. YETH doesn't hold ether: it builds the exposure with options on spot ether ETFs, then sells weekly calls against that position, swapping the biggest upside weeks for premium.

Stated mandate

CEPI The fund seeks current income and capital appreciation, while targeting most of the returns of the S&P 500 Total Return Index with lower volatility and additional income.

YETH The Fund seeks current income and secondary exposure to the price return of Ether ETFs traded on U.S.-regulated exchanges. It uses synthetic covered calls, primarily through options on Ether ETFs, to create that exposure while generating income.

Why people hold it

• CEPI Charges 0.85% a year, below the 0.96% median for crypto-linked income funds.
• Spreads across roughly 80 crypto and digital-payment stocks from the BITA Crypto Assets & Digital Payments Index, rather than leaning on one bitcoin proxy.
• Sits in the top quartile of the crypto-income group we track, one of the stronger builds in a crowded niche.
• A plain 1940 Act fund holding stocks, not coins: no wallet, no exchange account, 1099 at tax time.

• YETH The income engine is mechanical: sell weekly FLEX calls on ether ETFs, then distribute on a weekly schedule the fund expects (but doesn't guarantee) to keep.roundhillinvestments.com
• No wallets, no keys, no custody. An at-the-money FLEX call stands in for the coin, all inside a 1940 Act fund that reports like any other ETF.roundhillinvestments.com
• At 0.96%, the fee sits right at the median for crypto options-income funds, and the overall build lands in the upper half of that 19-fund group.
• Trading since September 2024, weeks after US spot ether ETFs listed, so it has a live record through real ether drawdowns rather than a backtest.roundhillinvestments.com

Worth knowing

• CEPI Writing options for income trades away part of any big rally in crypto equities. Premium now, capped upside later.
• A December 2024 launch that still trades lightly next to the giant income ETFs, so spreads can run wider.
• Exposure leans on derivatives, including synthetic single-stock positions, so the options book drives results as much as the shares behind it.

• YETH Upside is capped every week calls are written. A ripping ether rally leaves you with the premium and only part of the move.roundhillinvestments.com
• Distributions can exceed income and gains. The excess is return of capital: your own money coming back, with NAV lower for it.roundhillinvestments.com
• Ether's downside comes through largely intact; premium cushions, it doesn't hedge. Cheaper crypto-income builds exist, including SPBC at 0.54%.

Full CEPI profile⁠

Full YETH profile⁠