Data as of . Every figure is the income desk's own, on published data.
FEPI vs YMAX
What they hold in common
By the books each fund has filed, FEPI and YMAX hold 0% of their money in the same securities at the same weight.
| Only in FEPI | Only in YMAX |
|---|---|
| ADVANCED MICRO DEVICES, INC. 9.98% | YieldMax AMD Option Income Strategy ETF 6.95% |
| MICRON TECHNOLOGY, INC. 8.91% | Yieldmax Amzn Option Income ETF 5.36% |
| ALPHABET INC. 8.83% | Yieldmax Tsm Option Income Strategy ETF 5.01% |
| BROADCOM INC. 8.05% | YieldMax Crypto Industry & Tec 4.99% |
| NVIDIA CORPORATION 7.76% | YieldMax GOOGL Option Income S 4.88% |
| TESLA, INC. 7.47% | YieldMax MARA Option Income Strategy ETF 4.80% |
| INTEL CORPORATION 5.24% | YieldMax AI & Tech Portfolio Option Inco 4.72% |
| AMAZON.COM, INC. 5.21% | YieldMax Semiconductor Portfolio Option 4.66% |
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 | |||
|---|---|---|---|---|---|---|
| FEPI | YMAX | FEPI | YMAX | FEPI | YMAX | |
| 3 months | +2.7% | +7.1% | 6.0% | 10.9% | +0.6 pts | +2.4 pts |
| 6 months | +14.8% | +18.0% | 11.7% | 24.4% | −5.3 pts | +2.8 pts |
| 1 year | +17.8% | +3.5% | 23.2% | 40.0% | −7.8 pts | −16.5 pts |
| Since launch | +66.6% | +44.0% | 66.0% | 91.0% | −30.1 pts | −24.0 pts |
| FEPI REX FANG & Innovation Equity Premium Income ETF | YMAX YieldMax(R) Universe Fund of Option Income ETFs | |
|---|---|---|
| Issuer | REX | YieldMax |
| Strategy | covered call | synthetic covered call |
| Benchmark | Nasdaq-100 (QQQ), used as the innovation proxy | S&P 500 (SPY), used as a default proxy |
| Pays | weekly | weekly |
| Payout rate, annualised | 25.1% | 40.6% |
| Expense ratio | 0.65% | 1.33% |
| Cash paid, 1 year | 23.2% | 40.0% |
| Price change, 1 year | −7.5% | −38.7% |
| Total return, 1 year | +17.8% | +3.5% |
| Benchmark return, 1 year | +25.6% | +20.0% |
| Ahead or behind | −7.8 pts | −16.5 pts |
| Return of capital, latest estimate | not published | 43% |
| Age | 1059 days | 961 days |
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.
YMAX in plain words
Over the year to Sep 4, 2026, YMAX paid 40.0% of its starting value in cash distributions while its price fell 38.7%. With every distribution reinvested, the fund returned +3.5%. S&P 500 (SPY), used as a default proxy returned +20.0% over the same days, so a holder was behind by 16.5 pts. At its price on Sep 4, 2026 the latest distribution annualises to 40.6%, paid weekly. YieldMax estimates that 43% of the distribution paid Sep 3, 2026 was a return of capital (19a-1 notice, estimated, a tax characterisation rather than a measure of erosion).
Questions people ask
- Which paid more, FEPI or YMAX?
- Over the year to Sep 4, 2026, FEPI paid 23.2% of its starting price in cash and YMAX paid 40.0%, so YMAX paid more. Cash paid is not the same as money made: the price change matters too.
- Which returned more once distributions are counted, FEPI or YMAX?
- With every distribution reinvested, FEPI returned +17.8% and YMAX returned +3.5% over the year to Sep 4, 2026, so FEPI returned more.
- Which is cheaper, FEPI or YMAX?
- FEPI charges 0.65% a year and YMAX charges 1.33%, 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, FEPI against YMAX, data as of Sep 4, 2026. https://etfiq.com/compare/income/FEPI-YMAX.html Free to use with attribution; the underlying files are at Open data.