Shelton Equity Premium Income ETF · AMEX:SEPI
Shelton Equity Premium Income ETF — Shelton Capital Management — Investor Presentation (October 2026)
32 slides from Shelton Equity Premium Income ETF's investor presentation, October 2026
Slide 1: Under the Hood: Strong Demand, Higher Real Rates, and What It Means for Portfolios
THIRD QUARTER 2026 | Shelton Active Allocation Solutions Under the Hood: Strong Demand, Higher Real Rates, and What It Means for Portfolios -- For Financial Professionals Only -- sheltoncap.com/active-allocation-solutions | (800) 955-9988 | [email protected] For Financial Professionals Only 1
Slide 2: Agenda
Agenda » Preliminary Performance » Broad Outlook » Investment Implications » Recent Activity » Current Portfolio Allocations » The Cash Indicator For Financial Professionals Only 2
Slide 3: Preliminary Manager Composite vs Benchmark | September 2026
PRELIMINARY MANAGER COMPOSITE VS BENCHMARK | SEPTEMBER 2026 Since Inception (9/1/2008) 1-YR 3-YRS 5-YRS 7-YRS 10-YRS Trailing Standard Yield YTD Beta Alpha Trailing Trailing Trailing Trailing Trailing Return Deviation SAAS Growth Composite (gross) 1.93% 11.34% 13.27% 15.40% 7.33% 9.63% 9.26% 7.72% 1
Slide 4: Risk/Reward Plot: Since Inception to September 2026
RISK/REWARD PLOT: SINCE INCEPTION TO SEPTEMBER 2026 10% Annualized Return SAAS Growth Composite (gross) SAAS Growth Composite (net) Morningstar Global TME NR USD 8% SAAS Moderate Growth Composite (gross) SAAS Moderate Growth Composite (net) 65% Morningstar Global TME – 35% US Core Bond 6% SAAS Conse
Slide 5: Agenda
Agenda Preliminary Performance » Broad Outlook » Investment Implications » Recent Activity » Current Portfolio Allocations » The Cash Indicator For Financial Professionals Only 5
Slide 6: Broad Outlook
BROAD OUTLOOK » Jobs growth is slow but steady. Labor force growth has slowed, so job gains have reduced too. Soft jobs gains in September underwhelmed while the unemployment rate is still low. » Economic growth has accelerated. Global and U.S. business surveys (PMIs) are at multi-year highs in addi
Slide 7: Broad Outlook
BROAD OUTLOOK U.S. Europe Japan Emerging Markets Monetary Conditions Restrictive Restrictive Neutral Mixed Fiscal Conditions Supportive Neutral Supportive Mixed Leading Economic Indicators Strengthening Directionless Strengthening Directionless Equity Valuations Fairly Valued Fairly Valued Fairly Va
Slide 8: Sample of Recent Additions
SAMPLE OF RECENT ADDITIONS » The big picture: In consideration of the maturing business cycle and the current environment for interest rates, we have shifted away from cyclical businesses whose profits rise and fall with the economy in favor of companies that grow earnings more steadily. We have als
Slide 9: Jobs Growth: Slow but Steady
Jobs Growth: Slow but Steady 5,000 Civilian Labor Force Monthly Change (thousands) Total Nonfarm Payroll Change (thousands) 2,500 0 -2,500 Source: U.S. Federal Reserve -5,000 '81 '86 '91 '96 '01 '06 '11 '16 '21 '26 » In normal periods like today, hiring broadly matches the labor force growth, and un
Slide 10: Core GDP Has Outpaced Headline GDP
Core GDP Has Outpaced Headline GDP 5% Headline GDP Core GDP (real final sales to private domestic purchasers) 4% 3% 2% 1% Source: U.S. Federal Reserve 0% Q1 '24 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 » We think the headline GDP understates the overall U.S. momentum. » Real fi
Slide 11: The U.S. Economy Is Outgrowing Others
The U.S. Economy Is Outgrowing Others 3% 2026 GDP Projection 2027 GDP Projection 2.30% 2.10% 2% 1.30% 1.20% 1.10% 1% 0.80% 0.70% 0.60% Source: IMF 0% United States United Kingdom Euro area Japan » The U.S. also stands out globally as the International Monetary Fund projects faster U.S. economic grow
Slide 12: Rates Are A Growth and Supply Story
Rates Are A Growth and Supply Story 6.0% 10yr Treasury Yield 10yr Breakeven Inflation Rate 10yr Real Interest Rate 4.0% 2.0% Source: U.S. Federal Reserve 0.0% Sep-25 Nov-25 Jan-26 Mar-26 May-26 Jul-26 Sep-26 » The 10yr Treasury increased from about 4.0% last October to over 5.0% today. » At the same
Slide 13: Agenda
Agenda Preliminary Performance Broad Outlook » Investment Implications » Recent Activity » Current Portfolio Allocations » The Cash Indicator For Financial Professionals Only 13
Slide 14: Investment Implications
INVESTMENT IMPLICATIONS » Equities: Higher rates are a headwind for cyclical and rate-sensitive sectors. We continue to favor high-quality U.S. equities with consistent earnings growth, which is reflected in our overweights to information technology and health care. » Fixed Income: We favor the bell
Slide 15: Investment Outlook Summary | Favored Choices
INVESTMENT OUTLOOK SUMMARY | FAVORED CHOICES U.S. » financials*, health care*, momentum, technology* EQUITY Global » dividends, emerging markets xChina* defined-maturity core fixed income, FIXED INCOME multi-sector fixed income*, taxable munis* ALTERNATIVES equity option overlay strategies, multi-se
Slide 16: Agenda
Agenda Preliminary Performance Broad Outlook Investment Implications » Recent Activity » Current Portfolio Allocations » The Cash Indicator For Financial Professionals Only 16
Slide 17: Recent Activity: Net Trade Summary
Recent Activity NET TRADE SUMMARY: JULY 2026 TO SEPTEMBER 2026 Growth ModGrowth ConGrowth IncGrowth Income Weight Action Weight Action Weight Action Weight Action Weight Action Financial Sector SPDR (XLF) 4.0% BUY 3.0% BUY 2.0% BUY -- -- -- -- Health Care Sector SPDR (XLV) 5.0% BUY 3.5% BUY 2.5% BUY
Slide 18: Recent Activity: Net Trade Summary
Recent Activity NET TRADE SUMMARY: JULY 2026 TO SEPTEMBER 2026 Growth ModGrowth ConGrowth IncGrowth Income Weight Action Weight Action Weight Action Weight Action Weight Action Industrial Sector SPDR (XLI) -3.0% SELL -3.0% SELL -2.0% SELL -- -- -- -- iShares AI and Tech (BAI) -4.0% SELL -3.0% SELL -
Slide 19: Agenda
Agenda Preliminary Performance Broad Outlook Investment Implications Recent Activity » Current Portfolio Allocations » The Cash Indicator For Financial Professionals Only 19
Slide 20: Current Portfolio Allocations: Broad Asset Allocation
Current Portfolio Allocations BROAD ASSET ALLOCATION AS OF SEPTEMBER 2026 MStar Shelton Shelton Shelton Shelton 65% TME 50% TME 35% TME Shelton 80% TME Global Mod Con Inc w/ Growth 35% BOND 50% BOND 65% BOND Income 20% BOND TME Growth Growth Growth 100% 7.5% 13.5% 13.0% 22.8% 4.0% 29.5% 32.5% 10.5%
Slide 21: Current Portfolio Allocations: Equity Sector Allocation
Current Portfolio Allocations TRADITIONAL EQUITY SECTOR ALLOCATION AS OF SEPTEMBER 2026 Shelton Shelton Shelton MStar Global TME Growth Mod Growth Con Growth 100% 5.88% 5.92% 5.04% 8.25% Con. Discretionary 3.64% 3.74% 4.11% 3.43% 3.58% 3.47% 4.49% 3.96% Con. Staples 80% 17.94% 18.46% 18.95% Energy 1
Slide 22: Agenda
Agenda Preliminary Performance Broad Outlook Investment Implications Recent Activity Current Portfolio Allocations » The Cash Indicator For Financial Professionals Only 22
Slide 23: The Cash Indicator
THE CASH INDICATOR » The Cash Indicator (CI) currently reads 12.63, well below its long-term median of 25 and far from crossing a cash raise threshold. » While the CI spiked temporarily during the Middle East conflict, it has since settled back down to low levels. » Readings this subdued can reflect
Slide 24: The Cash Indicator
THE CASH INDICATOR 200 Cash Indicator 25% Cash Raise 54 150 Long-Term Median 10/09/26: 25 12.63 50% Cash Raise 100 Current: 50% 12.63 Cash Raise 25% Cash Raise 100 50 Cash Indicator 0 Source: Bloomberg and Shelton Capital Management '86 '90 '94 '98 '02 '06 '10 '14 '18 '22 '26 For Financial Professio
Slide 25: Questions?
Questions? Contact us with any questions or if you’d like more information on any of our Strategies. sheltoncap.com/active-allocation-solutions | (800) 955-9988 | [email protected] For Financial Professionals Only 25
Slide 26: Disclosures
Disclosures Shelton Capital Management is registered with the Securities and Exchange Commission (SEC). Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. Shelton Capital Management only t
Slide 27: Disclosures
Disclosures Performance (continued): The Growth Composite includes all portfolios that mainly invest in equity and alternative ETFs selected from the global investment opportunity set. The Growth Composite has risk characteristics similar to that of the broad equity market and include but are not li
Slide 28: Disclosures
Disclosures Performance (continued): The Conservative Growth Composite includes all portfolios that invest their assets in equity, fixed income and alternative exchange-traded funds selected from the global investment opportunity set. The Conservative Growth Composite has risk characteristics lower
Slide 29: Disclosures
Disclosures Performance (continued): The Income Composite includes all portfolios that invest their assets in equity, fixed income and alternative exchange-traded funds selected from the global investment opportunity set. The Income Composite has risk characteristics lower than that of the broad equ
Slide 30: Disclosures
Disclosures Statistical Definitions: Standard deviation – A statistical measure of volatility, deviation is often used as an indicator of the ‘risk’ associated with a return series. deviation of return measures the average deviations of a return series from its mean. A large deviation implies that t
Slide 31: Disclosures
Disclosures Principal Risks: Allocation risk – The performance of the portfolio relative to its benchmark will depend largely on the decisions to strategic asset allocation and tactical adjustments made to the asset allocation. At times, judgments as to the asset classes in which the portfolio shoul
Slide 32: sheltoncap.com/active-allocation-solutions | (800) 955-9988 | [email protected] For Financial Professionals Only
sheltoncap.com/active-allocation-solutions | (800) 955-9988 | [email protected] For Financial Professionals Only 32
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