CEPI vs SPY
REX Crypto Equity Premium Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, CEPI or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 51.7%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CEPI | SPY |
|---|---|---|
| Expense Ratio | 0.85% | 0.09%Best |
| AUM | $125M | $823.2B |
| Dividend Yield | 43.98% | 0.99% |
| Holdings | 149 | 1,515 |
| YTD Return | +13.66%Best | +13.53% |
| 1Y Return | +2.47% | +17.47%Best |
| 3Y Return (annualized) | - | +22.36% |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 25.9% | 12.3%Best |
| Max Drawdown | -28.9% | -18.8%Best |
| $10,000 over 1.9 years | $12,185 | $13,031Best |
| Top 10 Weight | 51.7% | 38.2%Best |
| Fund Family | REX Shares | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 4, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.9 years row, are measured over the window both funds cover: Dec 4, 2024 to Oct 14, 2026 (1.9 years).
CEPI vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.9 years both funds cover.
CEPI vs SPY Performance
REX Crypto Equity Premium Income ETF (CEPI) is an ETF from REX Shares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CEPI returned +2.47% while SPY returned +17.47%. Year to date, CEPI is up 13.66% versus a gain of 13.53% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CEPI has been the more volatile fund, with annualized monthly volatility of 25.9% compared with 12.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -28.9% for CEPI and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CEPI charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, CEPI currently yields 43.98% against 0.99% for SPY.
Holdings Overlap
51.2% of CEPI's money is in holdings SPY also owns. 14.2% of SPY's money is in holdings CEPI also owns.
The two portfolios partly overlap.
11 positions in common, counted across the 26 positions we hold weights for in CEPI and 504 in SPY, against full books of 149 and 1,515.
What only one of them owns
Our book lists 485 positions for SPY that do not appear in our book for CEPI (84.9% of the fund), and 13 for CEPI that do not appear in SPY (40.9%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in CEPI | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 4.92% | 7.78% | 2.86% |
| TSLATesla Inc | 5.38% | 1.54% | 3.84% |
| AMDAdvanced Micro Devices Inc | 5.64% | 1.22% | 4.42% |
| MUMicron Technology, Inc. | 4.87% | 1.59% | 3.28% |
| VVisa Inc Class A | 5.35% | 0.95% | 4.40% |
| MAMastercard Inc | 5.28% | 0.71% | 4.57% |
| PYPLPaypal Holdings Inc | 5.07% | 0.07% | 5.00% |
| COINCoinbase Global, Inc. | 4.98% | 0.06% | 4.92% |
| HOODRobinhood Markets Inc - A | 4.83% | 0.14% | 4.69% |
| IBKRInteractive Brokers Group Inc | 2.56% | 0.06% | 2.50% |
51.2% of CEPI is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CEPI or SPY?
CEPI has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option, by $76 a year on a $10,000 investment.
Which performed better, CEPI or SPY?
Over the past year CEPI returned +2.47% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), CEPI annualized +10.96% vs +14.95% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CEPI or SPY?
CEPI has been the more volatile fund at 25.9% annualized versus 12.3% for SPY. Worst drawdown: CEPI -28.9% vs SPY -18.8%.
Should I hold both CEPI and SPY?
CEPI and SPY have a monthly-return correlation of 0.82, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CEPI and SPY?
51.2% of CEPI's money is in holdings SPY also owns. 14.2% of SPY's is in holdings CEPI also owns. They hold 11 positions in common, counted across the 26 positions we hold weights for in CEPI and 504 in SPY.
Which pays a higher dividend, CEPI or SPY?
CEPI yields 43.98% while SPY yields 0.99%, so CEPI currently pays the higher dividend yield.
Is SPY better than CEPI?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 51.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.