Data as of .
FEPI vs MSFO: which paid, and which earned it?
Over the year MSFO paid 28.6% of its price in cash against FEPI’s 23.4%, though FEPI returned more with it reinvested.
ETFIQ Return Stability Score: MSFO scores higher
Was the payout funded by returns, or by your own capital?
A percentile among the 161 income ETFs writing on an index or proxy. It is a position in a set, not a rating, and neither end of it is a recommendation. All income ETFs ranked by it · How it is computed
What they hold in common
By the books each fund has filed, FEPI and MSFO hold 0% of their money in the same securities at the same weight.
| Only in FEPI | Only in MSFO |
|---|---|
| ADVANCED MICRO DEVICES, INC. 9.98% | TREASURY BILL 32.44% |
| MICRON TECHNOLOGY, INC. 8.91% | TREASURY BILL 31.42% |
| ALPHABET INC. 8.83% | TREASURY BILL 14.95% |
| BROADCOM INC. 8.05% | TREASURY BILL 12.47% |
| NVIDIA CORPORATION 7.76% | TREASURY BILL 8.72% |
| 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 dated Apr 30, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| FEPI | MSFO | FEPI | MSFO | FEPI | MSFO | |
| 3 months | +4.2% | +22.9% | 6.1% | 11.8% | +5.0 pts | −4.2 pts |
| 6 months | +14.6% | +21.4% | 12.1% | 21.0% | −6.1 pts | −4.5 pts |
| 1 year | +17.1% | +1.5% | 23.4% | 28.6% | −5.8 pts | +1.8 pts |
| 3 years | not published | +50.9% | not published | 79.0% | not published | −1.9 pts |
| Since launch | +67.5% | +55.4% | 66.4% | 81.3% | −28.2 pts | −1.6 pts |
| FEPI REX FANG & Innovation Equity Premium Income ETF Covered call on QQQ, paying weekly | MSFO YieldMax(R) MSFT Option Income Strategy ETF Synthetic covered call on MSFT, paying weekly | |
|---|---|---|
| Issuer | REX | YieldMax |
| Strategy | covered call | synthetic covered call |
| Benchmark | Nasdaq-100 (QQQ), used as the innovation proxy | Microsoft (MSFT) |
| Pays | weekly | weekly |
| Payout rate, annualized | 25.2% | 26.1% |
| Expense ratio | 0.65% | 1.03% |
| Cash paid, 1 year | 23.4% | 28.6% |
| Price change, 1 year | −8.5% | −29.8% |
| Total return, 1 year | +17.1% | +1.5% |
| Benchmark return, 1 year | +23.0% | −0.3% |
| Ahead or behind | −5.8 pts | +1.8 pts |
| Return of capital, latest estimate | not published | 92% |
| Age | 1066 days | 1113 days |
FEPI in plain words
Over the year to Sep 11, 2026, FEPI paid 23.4% of its starting value in cash distributions while its price fell 8.5%. With every distribution reinvested, the fund returned +17.1%. Nasdaq-100 (QQQ), used as the innovation proxy returned +23.0% over the same days, so a holder was behind by 5.8 pts. At its price on Sep 11, 2026 the latest distribution annualizes to 25.2%, paid weekly.
MSFO in plain words
Over the year to Sep 11, 2026, MSFO paid 28.6% of its starting value in cash distributions while its price fell 29.8%. With every distribution reinvested, the fund returned +1.5%. Microsoft (MSFT) returned −0.3% over the same days, so a holder was ahead by 1.8 pts. At its price on Sep 11, 2026 the latest distribution annualizes to 26.1%, paid weekly. YieldMax estimates that 92% of the distribution paid Sep 11, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
Questions people ask
- Which paid more, FEPI or MSFO?
- Over the year to Sep 11, 2026, FEPI paid 23.4% of its starting price in cash and MSFO paid 28.6%, so MSFO 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 MSFO?
- With every distribution reinvested, FEPI returned +17.1% and MSFO returned +1.5% over the year to Sep 11, 2026, so FEPI returned more.
- Which is cheaper, FEPI or MSFO?
- FEPI charges 0.65% a year and MSFO charges 1.03%, 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 MSFO, data as of Sep 11, 2026. https://etfiq.com/compare/income/fepi-vs-msfo Free to use with attribution; the underlying files are at Open data.