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PAYR vs SEPI

Federated Hermes Enhanced Income ETF

PAYRACboe

Shelton Equity Premium Income ETF

SEPIANYSE Arca

Overlap

Expense ratio

PAYR −0.14pt a year

PAYR0.40%SEPI0.54%

Avg volume · 30D

SEPI 3.4×the volume

PAYR18.1KSEPI60.7K

PAYR vs SEPI Performance

Oct 31, 2025 – Oct 30, 2026

+25.2%PAYR+15.6%SEPI

Oct 31, 2025 to Oct 30, 2026. PAYR +25.2%. SEPI +15.6%. Use the arrow keys to read each point.0%5%10%20%Oct 2025Apr 2026Oct 2026
Expense ratio
PAYR 0.40%, better
SEPI 0.54%
Fund size
PAYR $91M
SEPI $190M
1Y total return
PAYR +25.2%, better
SEPI +15.6%
Yield (12M)
PAYR No data
SEPI 8.34%
Holdings
PAYR 58
SEPI 43
Avg volume (30D)
PAYR 18.1K sh
SEPI 60.7K sh, better
NAV per share
PAYR $56.43
SEPI $27.80
52W range

ETF.net Grade

PAYR: Cost 92, Risk 75, Mission not scored, Tradability 56, Holdings 73, Durability 55. SEPI: Cost 84, Risk 64, Mission not scored, Tradability 66, Holdings 86, Durability 54.
Pillar letters and Scores for PAYR, SEPI, with each pillar’s weight
PillarPAYRSEPI
Cost30% weightA92HigherA84
Mission25% weightNot scoredNot scored
Risk15% weightA75HigherB64
Tradability15% weightB56B66Higher
Holdings10% weightA73A86Higher
Durability5% weightB55HigherC54

Rank among Active Option Income funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. PAYR and SEPI are both graded against the same 50 Active Option Income funds, so their Grades compare head to head.

Active Option Income⁠

Category · 50 funds
See all 50 ›

PAYR ranks 4th and SEPI 6th of 50 funds in the Active Option Income Category.

  1. Rank 1ARECIColumbia Research Enhanced Core Premium Income ETScore 83
  2. Rank 2ATCALT. Rowe Price Capital Appreciation Premium Income ETFScore 80
  3. Rank 2AYLDEFranklin ClearBridge Enhanced Income ETFScore 80
  4. Rank 4APAYRFederated Hermes Enhanced Income ETFScore 76
  5. Rank 4ARDVIFT Vest Rising Dividend Achievers Target Income ETFScore 76
  6. Rank 6AIINCAlki Consolidated Income ETFScore 74
  7. Rank 6ASEPIShelton Equity Premium Income ETFScore 74
  8. Rank 9ASTOXHorizon Core Equity ETFScore 72

Our read on each fund

ETF.net Research

PAYRAFederated Hermes Enhanced Income ETF

SEPIAShelton Equity Premium Income ETF

In short

PAYR No data

SEPI Most equity premium income funds sell index options or lean on bank-issued notes. Shelton writes covered calls on the individual large-cap stocks it actually owns, a hands-on take from a firm that has run option-income strategies for years.

Stated mandate

PAYR No data

SEPI The Fund seeks high current income and capital appreciation when consistent with that income. It invests primarily in income-producing U.S. equity securities.

Why people hold it

PAYR No data

  • SEPI Costs 0.54% a year against a 0.95% median for the equity premium income crowd, a rare thing for a stock-picking, name-by-name options strategy.
  • Sells calls on the individual stocks in the portfolio rather than index options or synthetic notes, so premium is harvested name by name instead of at the index level.sheltoncap.comprnewswire.com
  • Under the hood you own a real large-cap equity book (at least 80% of assets in common stocks), not a derivative stand-in for one.aaii.com
  • The portfolio lines up tightly with the stated income-plus-appreciation mandate, putting it among the stronger builds in a very crowded peer group.

Worth knowing

PAYR No data

  • SEPI Covered calls trade upside for cash: when a held stock runs past its strike, gains on that position are capped. That is the bargain being struck.sheltoncap.com
  • Index-overlay rivals such as PAPI (0.29%) and TCAL (0.34%) charge less. The extra basis points here buy single-stock selection and single-stock call writing.
  • Launched in 2025, so it is still building scale and a track record, and its distributions have not settled into the fixed monthly rhythm some rivals run on.

Full PAYR profile⁠

Full SEPI profile⁠

PAYR vs SEPI Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

PAYR vs SEPI Cost

Overpaying SEPI vs PAYR

$2,630

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PAYR 0.40%

    $8,090

  • SEPI 0.54%

    $10,720

$10,000
30 years

Cost over time

  • PAYR 0.40%
  • SEPI 0.54%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530SEPI $10,720PAYR $8,090

Year by year

YearPAYRSEPIOverpaying
10$723$971$248
20$2,793$3,724$931
30$8,090$10,720$2,630

Expense ratio

  • 0.40%PAYR, cheaper
  • 0.54%SEPI
  • Middle half of Active Option Income funds
  • Median 0.95%

PAYR 5th cheapest of 50 funds

SEPI 9th cheapest of 50 funds

PAYR vs SEPI Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
PAYR No data
SEPI 8.34%
Payout (12M)
PAYR No data
SEPI $2.32
Last payment
PAYR $0.29
SEPI $0.20
Ex-dividend
PAYR Oct 30, 2026
SEPI Oct 29, 2026
Paid on
PAYR Pays Nov 2, 2026
SEPI Oct 30, 2026
Frequency
PAYR Monthly
SEPI Monthly

Distribution history

Per share, 2025 to 2026, same scale for both

PAYRMonthly · 13 paymentsAll PAYR payments⁠
One bar per payment. 13 payments from 2025 to 2026 YTD. Oct 31, 2025 $0.16; Nov 28, 2025 $0.43; Dec 31, 2025 $0.41; Jan 30, 2026 $0.29; Feb 27, 2026 $0.33; Mar 31, 2026 $0.57; Apr 30, 2026 $0.18; May 29, 2026 $0.49; Jun 30, 2026 $0.46; Jul 31, 2026 $0.33; Aug 31, 2026 $0.32; Sep 30, 2026 $0.38; Oct 30, 2026 $0.29. Use the arrow keys to read each point.$0$0.502026YTD
SEPIMonthly · 13 paymentsAll SEPI payments⁠
One bar per payment. 13 payments from 2025 to 2026 YTD. Oct 30, 2025 $0.17; Nov 28, 2025 $0.17; Dec 30, 2025 $0.19; Jan 29, 2026 $0.19; Feb 26, 2026 $0.19; Mar 30, 2026 $0.19; Apr 29, 2026 $0.19; May 28, 2026 $0.20; Jun 29, 2026 $0.20; Jul 30, 2026 $0.20; Aug 28, 2026 $0.20; Sep 29, 2026 $0.20; Oct 29, 2026 $0.20. Use the arrow keys to read each point.$0$0.502026YTD

PAYR vs SEPI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
PAYR 14.6%since Nov 2025SEPI 10.8%since Oct 2025
Return per unit of riskSharpe ratio, 3 years
PAYR 1.36since Nov 2025SEPI 1.18since Oct 2025
Worst fallMax drawdown, 5 years
PAYR −7.0%since Oct 2025SEPI −7.7%since Sep 2025
Market sensitivityBeta, 5 years
PAYR 0.01SEPI 0.76

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