At a glance
SEPQ charges 0.65% a year, above the 0.53% average of the 8 funds most like it (the 6th cheapest of 9). It has $80.1M in assets, the 6th largest of that group; it paid 11.65% of its price in distributions over the past 12 months, monthly. Over the past year it returned +14.2% with distributions reinvested (S&P 500: +11.5%), 4th of those 9 funds; over three years it returned +24.1% a year. Its ten largest positions make up 45.1% of the fund, out of 102 in all.
The short version
STF Tactical Growth & Income ETF (SEPQ) is an actively managed fund that uses a computer-driven model to shift between large Nasdaq-listed stocks, long-term US Treasuries and cash, and it may sell call options for income. As of June 30, 2026, it held about 99% stocks, led by NVIDIA and Apple. It pays monthly, with a trailing yield of 11.65% as of October 27, 2026, but its 0.65% expense ratio is above the 0.53% peer average.
Price history
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SEPQ +14.2% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| SEPQ official prospectus, to Dec 31, 2025 | — | +18.88% | — | — | — | +12.92% |
| SEPQ price data to Oct 27, 2026 | +17.6% | +14.2% | +24.1% | — | — | +14.4% |
- Over the year to Oct 27, 2026, SEPQ returned +14.2%, 4th of 9 among similar funds.
- Its worst full calendar year was 2024 (+18.5%); its best was 2023 (+34.9%).
- The deepest fall in its price history was 23.4% (Jun 2, 2022 to Dec 28, 2022), recovered by Dec 8, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +17.6% | — |
| 2025 | +19.1% | +18.88% |
| 2024 | +18.5% | +18.74% |
| 2023 | +34.9% | +35.15% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $2.6300 | |
| 2025 | $2.9100 | +2.5% |
| 2024 | $2.8400 | +15.0% |
| 2023 | $2.4700 |
What's inside
As of Jun 30, 2026, the fund held 102 securities; the ten largest made up 45.14% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA Corp | 7.64% | |
| Apple Inc | 6.59% | |
| Micron Technology Inc | 6.01% | |
| Advanced Micro Devices Inc | 4.39% | |
| Microsoft Corp | 4.29% | |
| Amazon.com Inc | 3.75% | |
| Alphabet Inc | 3.22% | |
| Tesla Inc | 3.14% | |
| Intel Corp | 3.10% | |
| Broadcom Inc | 3.00% | |
| Alphabet Inc | 2.94% | |
| Meta Platforms Inc | 2.79% | |
| Applied Materials Inc | 2.68% | |
| Lam Research Corp | 2.50% | |
| Walmart Inc | 2.43% |
By country
United States 95.97%Netherlands 1.35%Canada 0.8%United Kingdom 0.41%Uruguay 0.4%By asset type
Stocks 99.23%By sector
Sectors of the companies held, for the 91.7% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $3.6M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +14.26%, +10.76%, +0.53%.
How it works
SEPQ does not track an index. Its adviser, Shelton Capital Management, picks investments with its own model, called the TUG (tactical unconstrained growth) model. The model relies mostly on numbers. It tracks price trends, volatility and how stocks and bonds move relative to each other. That includes several moving averages (average prices over set periods) of large Nasdaq-listed companies.
When the model's stock signal is strong, the fund holds Nasdaq-listed companies worth $5 billion or more, or ETFs that track them. When signals weaken, it can move some or all of its money into long-term US Treasuries, Treasury bills or cash. As of June 30, 2026, it had 99.2% of assets in 102 stocks. The largest were NVIDIA (7.6%), Apple (6.6%) and Micron Technology (6.0%).
The fund may also run an options spread. It sells call options on an index, covering up to 100% of its stocks, to collect premium (the price an option buyer pays). It spends part of that premium on calls with higher strike prices on the same index. The sold calls limit gains above their strike price. The bought calls can win back some of the upside in a sharp rally. The options usually last about a month and settle in cash. The fund reported no options positions on June 30, 2026.
What it really costs
- SEPQ charges 0.65% a year, versus an average of 0.53% for the similar funds below (6th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $66 in the first year and $810 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| SEPQ | $66 | $208 | $362 | $810 |
Structure and tax notes
- Generates much of its income from selling options (directly or through notes). That income is usually taxed as ordinary income rather than as qualified dividends, and the strategy gives up some upside in strong markets.
In a retirement portfolio
Its tech-heavy stock portfolio, one-year beta of 1.26 and short record since 2022 make it a higher-risk add-on rather than a core holding.
SEPQ could add growth and monthly income. But when its model favors stocks, it behaves like a concentrated tech fund. Its one-year beta (how strongly it moves with the market) was 1.26. The fund launched May 18, 2022, so it missed the 2008 and 2020 crashes and the start of the 2022 bear market. Its deepest drop, 23.4%, ran from June 2 to December 28, 2022. It took about 11 months to get back to its old high, on December 8, 2023. Every full calendar year since then has been a gain, and the weakest was 18.74% in 2024. Selling during a drop like 2022's would lock in losses.
The trailing yield was 11.65% as of October 27, 2026, paid monthly. Option income is usually taxed as ordinary income. Under the SEC's standard example, the 0.65% expense ratio costs $66 in the first year on $10,000. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want monthly income alongside large Nasdaq growth stocks; the trailing yield was 11.65% as of October 27, 2026.
- Those open to an active, trend-following model that can move from stocks into long-term Treasuries or cash when its signals weaken.
- Investors comfortable with heavy tech exposure: technology was 55.9% of holdings as of June 30, 2026, led by NVIDIA, Apple and Micron.
Look elsewhere if
- Cost-focused investors: the 0.65% expense ratio is above the 0.53% average for similar funds and well above GPIQ's 0.29%.
- Anyone who needs steady values: the fund fell 23.4% in 2022 and had a one-year beta of 1.26.
- Taxable investors who want qualified dividends, since option income is usually taxed as ordinary income, or anyone wanting a record longer than 2022.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| SEPQ this fund | — | 0.65% | $80.1M | +14.2% | +24.1% |
| QQQI NEOS Nasdaq 100 High Income ETF | 95% | 0.68% | $13.11B | +5.8% | — |
| QQQH NEOS Nasdaq 100 Hedged Equity Income ETF | 95% | 0.68% | $389.0M | +7.4% | — |
| GPIQ Nasdaq-100 Core Premium Income ETF | 93% | 0.29% | $5.11B | +16.1% | +25.6% |
| QYLD Global X NASDAQ 100 Covered Call ETF | 91% | 0.6% | $8.09B | +18.9% | +17.4% |
| QRMI Global X NASDAQ 100 Risk Managed Income ETF | 90% | 0.6% | $14.3M | +5.1% | +9.2% |
| QYLG Global X Nasdaq 100 Covered Call & Growth E… | 90% | 0.35% | $158.3M | +17.3% | +23.1% |
| QHDG Innovator Hedged Nasdaq-100 ETF | 89% | 0.79% | $3.0M | +1.1% | — |
Questions investors ask
Is SEPQ good for retirement income?
SEPQ may suit retirees who want monthly income and can handle stock-like swings. Its trailing yield was 11.65% as of October 27, 2026. But as of June 30, 2026, it held about 99% stocks, mostly technology, and its deepest drop was 23.4% in 2022. Option income is usually taxed as ordinary income, and payouts can vary. It fits better as a higher-risk add-on than as a core income holding.
Does SEPQ pay monthly dividends?
Yes. SEPQ pays distributions every month. In the 12 months to October 27, 2026, it paid $3.14 per share, a trailing yield of 11.65%. Much of its income can come from selling call options. That income is usually taxed as ordinary income, not as lower-taxed qualified dividends. Monthly amounts aren't fixed and can rise or fall with markets and the fund's options activity.
What's the difference between SEPQ and GPIQ?
The biggest differences are cost and flexibility. GPIQ, the Nasdaq-100 Core Premium Income ETF, also holds large Nasdaq stocks and sells options, and the two share 93% of their holdings. GPIQ charges 0.29% a year, while SEPQ charges 0.65%. SEPQ's model can also move into long-term Treasuries or cash. As of October 27, 2026, SEPQ returned 14.2% over one year and 24.1% a year over three years. GPIQ returned 16.1% and 25.6%.
What does SEPQ hold?
As of June 30, 2026, SEPQ held 102 stocks, which made up 99.2% of assets. The largest were NVIDIA (7.6%), Apple (6.6%), Micron Technology (6.0%), Advanced Micro Devices (4.4%) and Microsoft (4.3%). The top 10 made up 45% of the fund, and technology made up 55.9%. The mix can change a lot, because the fund's model can move money into long-term Treasuries or cash.
How has SEPQ performed since launch?
SEPQ has gained in every full calendar year since it launched in May 2022. Its prospectus shows returns of 35.15% in 2023, 18.74% in 2024 and 18.88% in 2025. That works out to 12.92% a year from launch through December 31, 2025. Its strongest quarter gained 17.45% (ended June 30, 2025), and its weakest lost 7.37% (ended March 31, 2025). Past results don't predict future returns.