Data as of . Every figure is the income desk's own, on published data.
APLY vs FEPI
What they hold in common
By the books each fund has filed, APLY and FEPI hold 0% of their money in the same securities at the same weight.
| Only in APLY | Only in FEPI |
|---|---|
| TREASURY BILL 27.23% | ADVANCED MICRO DEVICES, INC. 9.98% |
| TREASURY BILL 19.97% | MICRON TECHNOLOGY, INC. 8.91% |
| TREASURY BILL 19.80% | ALPHABET INC. 8.83% |
| TREASURY BILL 19.47% | BROADCOM INC. 8.05% |
| TREASURY BILL 13.52% | NVIDIA CORPORATION 7.76% |
| TESLA, INC. 7.47% | |
| INTEL CORPORATION 5.24% | |
| AMAZON.COM, INC. 5.21% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings as filed for Apr 30, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| APLY | FEPI | APLY | FEPI | APLY | FEPI | |
| 3 months | +0.6% | +2.7% | 8.1% | 6.0% | −3.6 pts | +0.6 pts |
| 6 months | +15.5% | +14.8% | 17.8% | 11.7% | −9.0 pts | −5.3 pts |
| 1 year | +18.6% | +17.8% | 30.9% | 23.2% | −15.3 pts | −7.8 pts |
| 3 years | +39.1% | n/a | 65.7% | n/a | −31.8 pts | n/a |
| Since launch | +51.5% | +66.6% | 74.1% | 66.0% | −43.8 pts | −30.1 pts |
| APLY YieldMax(R) AAPL Option Income Strategy ETF | FEPI REX FANG & Innovation Equity Premium Income ETF | |
|---|---|---|
| Issuer | YieldMax | REX |
| Strategy | synthetic covered call | covered call |
| Benchmark | Apple (AAPL) | Nasdaq-100 (QQQ), used as the innovation proxy |
| Pays | weekly | weekly |
| Payout rate, annualised | 26.2% | 25.1% |
| Expense ratio | 1.04% | 0.65% |
| Cash paid, 1 year | 30.9% | 23.2% |
| Price change, 1 year | −14.8% | −7.5% |
| Total return, 1 year | +18.6% | +17.8% |
| Benchmark return, 1 year | +33.9% | +25.6% |
| Ahead or behind | −15.3 pts | −7.8 pts |
| Return of capital, latest estimate | 92% | not published |
| Age | 1235 days | 1059 days |
APLY in plain words
Over the year to Sep 4, 2026, APLY paid 30.9% of its starting value in cash distributions while its price fell 14.8%. With every distribution reinvested, the fund returned +18.6%. Apple (AAPL) returned +33.9% over the same days, so a holder was behind by 15.3 pts. At its price on Sep 4, 2026 the latest distribution annualises to 26.2%, paid weekly. YieldMax estimates that 92% of the distribution paid Sep 4, 2026 was a return of capital (19a-1 notice, estimated, a tax characterisation rather than a measure of erosion).
FEPI in plain words
Over the year to Sep 4, 2026, FEPI paid 23.2% of its starting value in cash distributions while its price fell 7.5%. With every distribution reinvested, the fund returned +17.8%. Nasdaq-100 (QQQ), used as the innovation proxy returned +25.6% over the same days, so a holder was behind by 7.8 pts. At its price on Sep 4, 2026 the latest distribution annualises to 25.1%, paid weekly.
Questions people ask
- Which paid more, APLY or FEPI?
- Over the year to Sep 4, 2026, APLY paid 30.9% of its starting price in cash and FEPI paid 23.2%, so APLY paid more. Cash paid is not the same as money made: the price change matters too.
- Which returned more once distributions are counted, APLY or FEPI?
- With every distribution reinvested, APLY returned +18.6% and FEPI returned +17.8% over the year to Sep 4, 2026, so APLY returned more.
- Which is cheaper, APLY or FEPI?
- APLY charges 1.04% a year and FEPI charges 0.65%, so FEPI is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, APLY against FEPI, data as of Sep 4, 2026. https://etfiq.com/compare/income/APLY-FEPI.html Free to use with attribution; the underlying files are at Open data.