Data as of Nov 4, 2026.
FEPI vs NLSI: Dividend Yield & Total Return
FEPI and NLSI both write options for income.
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Net assets: $679m on Nov 3, 2026 for REX FANG & Innovation Equity Premium Income ETF, and $5.3m on Oct 28, 2026 for NEOS Long/Short Equity Income ETF.
Not measured
FEPI over 1 year: paid 22.1%, price −19.3%, total +2.9%, not measured against a benchmark. Data to Nov 4, 2026.
FEPI
+2.9%
22.1% as cash
Total return, distributions reinvested
Not measured
FEPI over 1 year: paid 22.1%, price −19.3%, total +2.9%, not measured against a benchmark. Data to Nov 4, 2026.
FEPI
+2.9%
22.1% of it arrived as cash. Total return, distributions reinvested. FEPI over 1 year: paid 22.1%, price −19.3%, total +2.9%, not measured against a benchmark. Data to Nov 4, 2026.
Data to Nov 4, 2026.5 pts ahead of SPY
NLSI since launch: paid 5.0%, price +12.0%, total +17.7%, SPY +12.7%, +5.0 pts. Data to Nov 4, 2026.
SPY
+12.7%
NLSI
+17.7%
5.0% as cash
5 pts ahead of SPY
Total return, distributions reinvested
5 pts ahead of SPY
NLSI since launch: paid 5.0%, price +12.0%, total +17.7%, SPY +12.7%, +5.0 pts. Data to Nov 4, 2026.
SPY
+12.7%
NLSI
+17.7%
5 pts ahead of SPY
5.0% of it arrived as cash. Both charts share one scale, with zero at the line. NLSI since launch: paid 5.0%, price +12.0%, total +17.7%, SPY +12.7%, +5.0 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
FEPI costs 2.24 points a year less; FEPI is far larger, $731m against $5.3m.
Points (pts) are percentage points.
| Measure | FEPI | NLSI |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +2.9% | not published |
| Price change | fell 19.3% (1 year) | rose 12.0% (since Dec 10, 2025) |
| Return of capital, issuer estimate | 100% of the Oct 30, 2026 payment | |
| Against its benchmark | ||
| Benchmark | not published | S&P 500, measured through SPY |
| Against its benchmark, same days | ahead by 5.0 pts | |
| Cost and size | ||
| Expense ratio | 0.65% | 2.89% |
| Net assets, as of Oct 28, 2026 | $731m | $5.3m |
| Holdings | ||
| Holdings in common | 6% | |
What they share
By the books each fund has filed, FEPI and NLSI hold 6% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.
half
6% in common
Only in one fund ↓
Side by side
As of Nov 4, 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
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | FEPI | NLSI | FEPI | NLSI | FEPI | NLSI |
| 3 months | −1.5% | +6.7% | 6.4% | 1.4% | not measured | +6.9 pts |
| 6 months | −2.4% | +21.4% | 11.2% | 3.0% | not measured | +16.4 pts |
| 1 year | +2.9% | – | 22.1% | – | not measured | – |
| 3 years | +55.6% | – | 69.1% | – | not measured | – |
| Since launchNot the same days: FEPI Oct 2023 · NLSI Dec 2025 | +56.7% | +17.7% | 69.6% | 5.0% | not measured | +4.9 pts |
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FEPI
Over the year to Nov 4, 2026, FEPI paid 22.1% of its starting value in cash distributions while its price fell 19.3%. With every distribution reinvested, the fund returned +2.9%. At its price on Nov 4, 2026 the latest distribution annualizes to 24.9%, paid weekly.
NLSI
Over the period from its first trade on Dec 10, 2025 to Nov 4, 2026, NLSI paid 5.0% of its starting value in cash distributions while its price rose 12.0%. With every distribution reinvested, the fund returned +17.7%. S&P 500 (SPY) returned +12.7% over the same days, so a holder was ahead by 5.0 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 5.6%, paid monthly. NEOS estimates that 100% 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
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 NLSI, data as of Nov 4, 2026. https://etfiq.com/compare/income/fepi-vs-nlsi
ETFIQ. (Nov 4, 2026). FEPI against NLSI. Retrieved from https://etfiq.com/compare/income/fepi-vs-nlsi
[FEPI against NLSI (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/fepi-vs-nlsi)
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