Which paid more, AIPI or FEPI?

Over the year to Oct 28, 2026, AIPI paid 30.4% of its starting price in cash and FEPI paid 22.9%, so AIPI paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, AIPI or FEPI?

With every distribution reinvested, AIPI returned +15.5% and FEPI +8.5% over the year to Oct 28, 2026.

Which is cheaper, AIPI or FEPI?

AIPI and FEPI both charge 0.65% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Income ETFs

AIPI vs FEPI: Dividend Yield & Total Return

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Over the year to Oct 28, 2026, AIPI paid 30.4% of its price in cash against FEPI’s 22.9%, and returned more with it reinvested.

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Net assets on Oct 27, 2026: $490m for REX AI EQUITY PREMIUM INCOME ETF and $725m for REX FANG & Innovation Equity Premium Income ETF.

AIPI on its own →FEPI on its own →

At a glance

30.4%

AIPI cash paid, 1 year

22.9%

FEPI cash paid, 1 year

+15.5%

AIPI total return, 1 year

+8.5%

FEPI total return, 1 year

AIPI · 1 year to Oct 28, 2026 1.9 pts ahead of SPY

AIPI

+15.5%

SPY

+13.6%

1.9 pts ahead of SPY

AIPI over 1 year: paid 30.4%, price −19.4%, total +15.5%, SPY +13.6%, +1.9 pts. Data to Oct 28, 2026.

SPY

+13.6%

AIPI

+15.5%

30.4% of it arrived as cash

1.9 pts ahead of SPY

Total return, distributions reinvested

1.9 pts ahead of SPY

AIPI over 1 year: paid 30.4%, price −19.4%, total +15.5%, SPY +13.6%, +1.9 pts. Data to Oct 28, 2026.

SPY

+13.6%

AIPI

+15.5%

30.4% as cash

1.9 pts ahead of SPY

30.4% of it arrived as cash. Total return, distributions reinvested. AIPI over 1 year: paid 30.4%, price −19.4%, total +15.5%, SPY +13.6%, +1.9 pts. Data to Oct 28, 2026.

Data to Oct 28, 2026.

FEPI · 1 year to Oct 28, 2026 Not measured

FEPI

+8.5%

none

Not measured

FEPI over 1 year: paid 22.9%, price −16.3%, total +8.5%, not measured against a benchmark. Data to Oct 28, 2026.

FEPI

+8.5%

22.9% of it arrived as cash

Total return, distributions reinvested

Not measured

FEPI over 1 year: paid 22.9%, price −16.3%, total +8.5%, not measured against a benchmark. Data to Oct 28, 2026.

FEPI

+8.5%

22.9% cash

22.9% of it arrived as cash. Both charts share one scale, with zero at the line. FEPI over 1 year: paid 22.9%, price −16.3%, total +8.5%, not measured against a benchmark. Data to Oct 28, 2026.

Data to Oct 28, 2026.

Pair scorecard

Both cost 0.65% a year; their one-year returns differ by 7.0 points; FEPI is 1.5 times larger.

Points (pts) are percentage points.

AIPI vs FEPI: Dividend Yield & Total Return
Measure	AIPI	FEPI
Paid and earned
Measure	AIPI	FEPI
Total return, 1 year	+15.5%	+8.5%
Price change, 1 year	fell 19.4%	fell 16.3%
Return of capital, issuer estimate	100% of the Oct 8, 2026 payment
Against its benchmark
Measure	AIPI	FEPI
Benchmark	S&P 500, measured through SPY	not published
Cost and size
Measure	AIPI	FEPI
Expense ratio	0.65%	0.65%
Net assets, as of Oct 27, 2026	$490m	$725m
Holdings
Measure	AIPI	FEPI
Holdings in common	38%

Holdings in common uses holdings dated May 31, 2026 and Jul 31, 2026. Method

Risk and return

Jun 14, 2024 to Oct 23, 2026 · 123 weekly returns

AIPI FEPI

Return

Total return edge AIPI +44.7% +31.0%

Annualized edge AIPI +16.9% +12.1%

Price return edge FEPI −34.5% −27.6%

Risk

Volatility edge FEPI (slight) 21.3% 19.9%

Max drawdown edge FEPI (slight) −24.9% −22.7%

Risk-adjusted

Sharpe edge AIPI 0.64 0.46

Sortino edge AIPI 0.92 0.65

Calmar edge AIPI 0.68 0.53

Reading

AIPI returned more: +44.7% to +31.0%. FEPI swung slightly less: 19.9% to 21.3%. FEPI fell slightly less at its worst: −22.7% to −24.9%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: AIPI vs FEPI: Dividend Yield & Total Return
Measure	AIPI	FEPI	Edge	How it is measured
Return
Total return	+44.7%	+31.0%	AIPI	Price change plus distributions, reinvested.
Annualized	+16.9%	+12.1%	AIPI	Total return as a yearly rate.
Price return	−34.5%	−27.6%	FEPI	Price change alone, distributions left out.
Risk
Volatility	21.3%	19.9%	FEPI (slight)	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	15.0%	14.2%	FEPI (slight)	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−24.9%	−22.7%	FEPI (slight)	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.64	0.46	AIPI	Return above Treasury bills per unit of volatility.
Sortino	0.92	0.65	AIPI	Return above Treasury bills per unit of downside deviation.
Calmar	0.68	0.53	AIPI	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 123 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

38%

By the books each fund has filed, AIPI and FEPI hold 38% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jul 31, 2026.

50%

0 half 100%

half

38% in common

Positions both hold · largest shared weight first AIPI FEPI

NVIDIA CORPORATION 8.92% 6.68%

MICRON TECHNOLOGY, INC. 4.50% 5.88%

PALANTIR TECHNOLOGIES INC. 9.11% 4.22%

ADVANCED MICRO DEVICES, INC. 3.60% 6.04%

INTEL CORPORATION 2.90% 4.10%

APPLE INC. 2.80% 6.90%

MICROSOFT CORPORATION 2.73% 4.23%

BROADCOM INC. 2.67% 6.95%

META PLATFORMS, INC. 2.61% 4.25%

AMAZON.COM, INC. 2.54% 4.21%

ALPHABET INC. 2.48% 7.00%

Only in one fund ↓

Only in AIPI

CROWDSTRIKE HOLDINGS, INC. 12.93%

Astera Labs, Inc 7.80%

DATADOG, INC. 7.21%

SUPER MICRO COMPUTER, INC. 4.28%

IONQ Inc 3.92%

PALO ALTO NETWORKS, INC. 3.91%

QUALCOMM INCORPORATED 3.57%

SERVICENOW, INC. 3.43%

Only in FEPI

ORACLE CORPORATION 4.23%

TESLA, INC. 4.22%

NETFLIX, INC. 4.21%

SANDISK CORPORATION 4.09%

Check overlap with more funds →

Side by side

AIPI REX AI EQUITY PREMIUM INCOME ETF · Covered call on SPY, paying weekly FEPI REX FANG & Innovation Equity Premium Income ETF · Covered call, paying weekly

Issuer REX REX

Strategy covered call covered call

Benchmark S&P 500 (SPY) none

Pays weekly weekly

Payout rate, annualized 34.3% 24.6%

Expense ratio 0.65% 0.65%

Cash paid, 1 year 30.4% 22.9%

Price change, 1 year −19.4% −16.3%

Total return, 1 year +15.5% +8.5%

Benchmark return, 1 year +13.6% not published

Ahead or behind +1.9 pts not available

Return of capital, latest estimate 100% not published

Age 2.4 years 3.0 years

Net assets, as of Oct 27, 2026 $490m $725m

As of Oct 28, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.

Window by window

Window by window: AIPI vs FEPI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	AIPI	FEPI	AIPI	FEPI	AIPI	FEPI
3 months	+19.0%	+16.3%	9.7%	7.0%	+12.9 pts	not measured
6 months	+18.5%	+8.1%	15.9%	11.0%	+9.4 pts	not measured
1 year	+15.5%	+8.5%	30.4%	22.9%	+1.9 pts	not measured
3 years	–	+78.0%	–	72.9%	–	not measured
Since launchNot the same days: AIPI Jun 2024 · FEPI Oct 2023	+58.9%	+69.0%	67.1%	69.2%	+8.5 pts	not measured

– means no data for this window. Open this comparison in the app →

Client brief · page 1 of 2 Report BR-2F32665EC7

AIPI and FEPI are built for the same job. How do they differ in cost, holdings and results?

Income paid. AIPI paid 30.4% and FEPI 22.9% (cash paid over 1 year, as a share of its price at the start), a gap of 7.5 points.
Holdings in common. 38% of the weight is in the same securities (holdings dated May 31, 2026 and Jul 31, 2026).
One-year total return. Over 1 year to Oct 28, 2026 AIPI returned +15.5% and FEPI +8.5% with distributions reinvested, a gap of 7.0 points.

Data as of Oct 28, 2026.

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About each fund

AIPI

Over the year to Oct 28, 2026, AIPI paid 30.4% of its starting value in cash distributions while its price fell 19.4%. With every distribution reinvested, the fund returned +15.5%. S&P 500 (SPY) returned +13.6% over the same days, so a holder was ahead by 1.9 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 34.3%, paid weekly. REX estimates that 100% of the distribution paid Oct 8, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

FEPI

Over the year to Oct 28, 2026, FEPI paid 22.9% of its starting value in cash distributions while its price fell 16.3%. With every distribution reinvested, the fund returned +8.5%. At its price on Oct 28, 2026 the latest distribution annualizes to 24.6%, paid weekly.

Questions people ask

Which paid more, AIPI or FEPI?: Over the year to Oct 28, 2026, AIPI paid 30.4% of its starting price in cash and FEPI paid 22.9%, so AIPI paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, AIPI or FEPI?: With every distribution reinvested, AIPI returned +15.5% and FEPI +8.5% over the year to Oct 28, 2026.
Which is cheaper, AIPI or FEPI?: AIPI and FEPI both charge 0.65% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

AIPI vs NVDY AIPI vs GPIQ AIPI vs QYLD AIPI vs QQQI FEPI vs KHPI FEPI vs DUBS FEPI vs PBP FEPI vs IVVW

Where to next

S&P 500 (SPY) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →AIPI on its own →FEPI on its own →AIPI dividend history →AIPI holdings →FEPI dividend history →FEPI holdings →Method →Standards and sources →

Sources and dates

AIPI and FEPI filings on SEC EDGAR ↗

AIPI prospectus with the expense ratio (SEC) ↗

AIPI 19a-1 distribution notice ↗

REX page for AIPI ↗

FEPI prospectus with the expense ratio (SEC) ↗

REX page for FEPI ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, AIPI against FEPI, data as of Oct 28, 2026. https://etfiq.com/compare/income/aipi-vs-fepi

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.