Data as of .
CEPI vs NEHI: which paid, and which earned it?
CEPI and NEHI both write options for income.
What they hold in common
By the books each fund has filed, CEPI and NEHI hold 0% of their money in the same securities at the same weight.
| Only in CEPI | Only in NEHI |
|---|---|
| Advanced Micro Devices Inc 6.59% | United States Treasury Bill 11/05/2026 49.17% |
| Micron Technology Inc 5.71% | ETHA 10/16/2026 12 C 33.20% |
| Applied Digital Corp 5.64% | iShares Ethereum Trust ETF 19.39% |
| Strategy Inc 5.58% | ETHA 10/16/2026 12 P -0.16% |
| MARA Holdings Inc 5.57% | ETHA 10/16/2026 22 C -0.48% |
| IREN Ltd 5.29% | ETHA 10/16/2026 20 C -1.10% |
| TSMC 4.72% | |
| NVIDIA Corp 4.55% |
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 dated Apr 30, 2026 and Sep 21, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| CEPI | NEHI | CEPI | NEHI | CEPI | NEHI | |
| 3 months | +0.9% | +40.9% | 9.6% | 9.2% | +3.1 pts | −13.7 pts |
| 6 months | +29.4% | +16.5% | 22.2% | 14.7% | −4.4 pts | −7.2 pts |
| 1 year | +18.1% | not published | 35.3% | not published | +6.0 pts | not published |
| Since launch | +26.2% | −16.3% | 51.2% | 18.6% | −1.0 pts | −0.3 pts |
| CEPI REX Crypto Equity Premium Income ETF Covered call on BITQ, paying weekly | NEHI NEOS Ethereum High Income ETF Option income on ETHA, paying monthly | |
|---|---|---|
| Issuer | REX | NEOS |
| Strategy | covered call | option income |
| Benchmark | Crypto industry (BITQ), used as the crypto proxy | Ether (ETHA) |
| Pays | weekly | monthly |
| Payout rate, annualized | 41.0% | 31.6% |
| Expense ratio | 0.85% | 0.98% |
| Cash paid, 1 year | 35.3% | 18.6% (since launch on Dec 3, 2025) |
| Price change, 1 year | −22.5% | −36.5% |
| Total return, 1 year | +18.1% | −16.3% (since launch on Dec 3, 2025) |
| Benchmark return, 1 year | +12.1% | −16.0% |
| Ahead or behind | +6.0 pts | −0.3 pts |
| Return of capital, latest estimate | 100% | 93% |
| Age | 653 days | 289 days |
| Net assets | $123m | $110m |
CEPI in plain words
Over the year to Sep 18, 2026, CEPI paid 35.3% of its starting value in cash distributions while its price fell 22.5%. With every distribution reinvested, the fund returned +18.1%. Crypto industry (BITQ), used as the crypto proxy returned +12.1% over the same days, so a holder was ahead by 6.0 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 41.0%, paid weekly. REX estimates that 100% of the distribution paid Aug 27, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
NEHI in plain words
Over the period since launch on Dec 3, 2025 to Sep 18, 2026, NEHI paid 18.6% of its starting value in cash distributions while its price fell 36.5%. With every distribution reinvested, the fund returned −16.3%. Ether (ETHA) returned −16.0% over the same days, so a holder was about even. At its price on Sep 18, 2026 the latest distribution annualizes to 31.6%, paid monthly. NEOS estimates that 93% of the distribution paid Jun 18, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
Questions people ask
- Which is cheaper, CEPI or NEHI?
- CEPI charges 0.85% a year and NEHI charges 0.98%, so CEPI 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, CEPI against NEHI, data as of Sep 18, 2026. https://etfiq.com/compare/income/cepi-vs-nehi Free to use with attribution; the underlying files are at Open data.