Which paid more, FEPI or MSTY?

Over the year to Oct 28, 2026, FEPI paid 22.9% of its starting price in cash and MSTY paid 33.4%, so MSTY 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 MSTY?

With every distribution reinvested, FEPI returned +8.5% and MSTY −43.4% over the year to Oct 28, 2026.

Which is cheaper, FEPI or MSTY?

FEPI charges 0.65% a year and MSTY charges 0.99%, so FEPI is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Income ETFs

FEPI vs MSTY: Dividend Yield & Total Return

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Over the year to Oct 28, 2026, MSTY paid 33.4% of its price in cash against FEPI’s 22.9%, though FEPI returned more with it reinvested.

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Net assets on Oct 27, 2026: $725m for REX FANG & Innovation Equity Premium Income ETF and $1.0bn for YieldMax MSTR Option Income Strategy ETF.

FEPI on its own →MSTY on its own →

At a glance

22.9%

FEPI cash paid, 1 year

33.4%

MSTY cash paid, 1 year

+8.5%

FEPI total return, 1 year

−43.4%

MSTY total return, 1 year

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% 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% of it arrived as cash. Total return, distributions reinvested. 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.

MSTY · 1 year to Oct 28, 2026 5.6 pts ahead of MSTR

MSTY

−43.4%

MSTR

−49.0%

5.6 pts ahead of MSTR

MSTY over 1 year: paid 33.4%, price −75.2%, total −43.4%, MSTR −49.0%, +5.6 pts. Data to Oct 28, 2026.

MSTR

−49.0%

MSTY

−43.4%

5.6 pts ahead of MSTR

Total return, distributions reinvested

5.6 pts ahead of MSTR

MSTY over 1 year: paid 33.4%, price −75.2%, total −43.4%, MSTR −49.0%, +5.6 pts. Data to Oct 28, 2026.

MSTR

−49.0%

MSTY

−43.4%

5.6 pts ahead of MSTR

33.4% of it arrived as cash. Both charts share one scale, with zero at the line. MSTY over 1 year: paid 33.4%, price −75.2%, total −43.4%, MSTR −49.0%, +5.6 pts. Data to Oct 28, 2026.

Data to Oct 28, 2026.

Pair scorecard

FEPI costs 0.34 points a year less; their one-year returns differ by 51.9 points; MSTY is 1.4 times larger.

Points (pts) are percentage points.

FEPI vs MSTY: Dividend Yield & Total Return
Measure	FEPI	MSTY
Paid and earned
Measure	FEPI	MSTY
Total return, 1 year	+8.5%	−43.4%
Price change, 1 year	fell 16.3%	fell 75.2%
Return of capital, issuer estimate		14% of the Oct 30, 2026 payment
Against its benchmark
Measure	FEPI	MSTY
Benchmark	not published	MicroStrategy (MSTR)
Cost and size
Measure	FEPI	MSTY
Expense ratio	0.65%	0.99%
Net assets, as of Oct 27, 2026	$725m	$1.0bn
Holdings
Measure	FEPI	MSTY
Holdings in common	0%

Holdings in common uses holdings dated Jul 31, 2026 and Oct 28, 2026. Method

Risk and return

Mar 1, 2024 to Oct 23, 2026 · 138 weekly returns

FEPI MSTY

Return

Total return edge Tie +36.3% +36.1%

Annualized edge Tie +12.4% +12.3%

Price return edge FEPI −29.2% −89.1%

Risk

Volatility edge FEPI 19.6% 61.8%

Max drawdown edge FEPI −22.7% −76.2%

Risk-adjusted

Sharpe edge FEPI 0.47 0.42

Sortino edge Tie 0.66 0.65

Calmar edge FEPI 0.54 0.16

Reading

FEPI and MSTY returned about the same: +36.3% and +36.1%. FEPI swung less: 19.6% to 61.8%. FEPI fell less at its worst: −22.7% to −76.2%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: FEPI vs MSTY: Dividend Yield & Total Return
Measure	FEPI	MSTY	Edge	How it is measured
Return
Total return	+36.3%	+36.1%	Tie	Price change plus distributions, reinvested.
Annualized	+12.4%	+12.3%	Tie	Total return as a yearly rate.
Price return	−29.2%	−89.1%	FEPI	Price change alone, distributions left out.
Risk
Volatility	19.6%	61.8%	FEPI	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	14.1%	40.0%	FEPI	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−22.7%	−76.2%	FEPI	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.47	0.42	FEPI	Return above Treasury bills per unit of volatility.
Sortino	0.66	0.65	Tie	Return above Treasury bills per unit of downside deviation.
Calmar	0.54	0.16	FEPI	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 138 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, FEPI and MSTY hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 28, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first FEPI MSTY

Only in one fund ↓

Only in FEPI

ALPHABET INC. 7.00%

BROADCOM INC. 6.95%

APPLE INC. 6.90%

NVIDIA CORPORATION 6.68%

ADVANCED MICRO DEVICES, INC. 6.04%

MICRON TECHNOLOGY, INC. 5.88%

META PLATFORMS, INC. 4.25%

MICROSOFT CORPORATION 4.23%

Only in MSTY

United States Treasury Note/Bond 2.375% 05/15/2027 18.81%

MSTR US 11/20/26 C135 6.30%

United States Treasury Note/Bond 3.375% 09/15/2027 5.96%

MSTR 12/18/2026 150.01 C 4.40%

MSTR US 10/30/26 C157.5 0.19%

MSTR US 10/30/26 C160 0.11%

MSTR US 10/30/26 C162.5 0.10%

MSTR US 10/30/26 C148 -0.03%

Check overlap with more funds →

Side by side

FEPI REX FANG & Innovation Equity Premium Income ETF · Covered call, paying weekly MSTY YieldMax MSTR Option Income Strategy ETF · Synthetic covered call on MSTR, paying weekly

Issuer REX YieldMax

Strategy covered call synthetic covered call

Benchmark none MicroStrategy (MSTR)

Pays weekly weekly

Payout rate, annualized 24.6% 60.3%

Expense ratio 0.65% 0.99%

Cash paid, 1 year 22.9% 33.4%

Price change, 1 year −16.3% −75.2%

Total return, 1 year +8.5% −43.4%

Benchmark return, 1 year not published −49.0%

Ahead or behind not available +5.6 pts

Return of capital, latest estimate not published 14%

Age 3.0 years 2.7 years

Net assets, as of Oct 27, 2026 $725m $1.0bn

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: FEPI vs MSTY: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	FEPI	MSTY	FEPI	MSTY	FEPI	MSTY
3 months	+16.3%	+42.2%	7.0%	25.1%	not measured	−13.3 pts
6 months	+8.1%	−9.7%	11.0%	28.9%	not measured	−1.4 pts
1 year	+8.5%	−43.4%	22.9%	33.4%	not measured	+5.6 pts
3 years	+78.0%	–	72.9%	–	not measured	–
Since launchNot the same days: FEPI Oct 2023 · MSTY Feb 2024	+69.0%	+69.4%	69.2%	224.6%	not measured	−34.2 pts

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Client brief · page 1 of 2 Report BR-72035BA986

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

Income paid. FEPI paid 22.9% and MSTY 33.4% (cash paid over 1 year, as a share of its price at the start), a gap of 10.5 points.
Holdings in common. 0% of the weight is in the same securities (holdings dated Jul 31, 2026 and Oct 28, 2026).
One-year total return. Over 1 year to Oct 28, 2026 FEPI returned +8.5% and MSTY −43.4% with distributions reinvested, a gap of 51.9 points.

Data as of Oct 28, 2026.

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About each fund

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.

MSTY

Over the year to Oct 28, 2026, MSTY paid 33.4% of its starting value in cash distributions while its price fell 75.2%. With every distribution reinvested, the fund returned −43.4%. MicroStrategy (MSTR) returned −49.0% over the same days, so a holder was ahead by 5.6 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 60.3%, paid weekly. YieldMax estimates that 14% of the distribution paid Oct 30, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

Questions people ask

Which paid more, FEPI or MSTY?: Over the year to Oct 28, 2026, FEPI paid 22.9% of its starting price in cash and MSTY paid 33.4%, so MSTY 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 MSTY?: With every distribution reinvested, FEPI returned +8.5% and MSTY −43.4% over the year to Oct 28, 2026.
Which is cheaper, FEPI or MSTY?: FEPI charges 0.65% a year and MSTY charges 0.99%, so FEPI is cheaper. Fees come from each fund's prospectus.

Other comparisons

FEPI vs SDVD FEPI vs RYLD FEPI vs NVDY FEPI vs TSLY MSTY vs MSST MSTY vs MTYY MSTY vs TSLY MSTY vs ULTY

Where to next

All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →FEPI on its own →MSTY on its own →FEPI dividend history →FEPI holdings →MSTY dividend history →MSTY holdings →Method →Standards and sources →

Sources and dates

FEPI filings on SEC EDGAR ↗

FEPI prospectus with the expense ratio (SEC) ↗

REX page for FEPI ↗

MSTY filings on SEC EDGAR ↗

MSTY prospectus with the expense ratio (SEC) ↗

MSTY 19a-1 distribution notice ↗

YieldMax page for MSTY ↗

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

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