Data as of Nov 4, 2026.
FEPI vs QLDY: Dividend Yield & Total Return
Over the year to Nov 4, 2026, QLDY paid 35.3% of its price in cash against FEPI’s 22.1%, and returned more with it reinvested.
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Net assets on Nov 3, 2026: $679m for REX FANG & Innovation Equity Premium Income ETF and $53m for Defiance Nasdaq 100 LightningSpread 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, 2026.3.2 pts behind QQQ
QLDY over 1 year: paid 35.3%, price −27.2%, total +9.1%, QQQ +12.3%, −3.2 pts. Data to Nov 4, 2026.
QQQ
+12.3%
QLDY
+9.1%
35.3% of it arrived as cash
3.2 pts behind QQQ
Total return, distributions reinvested
3.2 pts behind QQQ
QLDY over 1 year: paid 35.3%, price −27.2%, total +9.1%, QQQ +12.3%, −3.2 pts. Data to Nov 4, 2026.
QQQ
+12.3%
QLDY
+9.1%
35.3% as cash
3.2 pts behind QQQ
35.3% of it arrived as cash. Both charts share one scale, with zero at the line. QLDY over 1 year: paid 35.3%, price −27.2%, total +9.1%, QQQ +12.3%, −3.2 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
FEPI costs 0.39 points a year less; their one-year returns differ by 6.2 points; FEPI is 12.8 times larger.
Points (pts) are percentage points.
| Measure | FEPI | QLDY |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +2.9% | +9.1% |
| Price change, 1 year | fell 19.3% | fell 27.2% |
| Return of capital, issuer estimate | 0% of the Nov 2, 2026 payment | |
| Against its benchmark | ||
| Benchmark | not published | Nasdaq-100, measured through QQQ |
| Cost and size | ||
| Expense ratio | 0.65% | 1.04% |
| Net assets, as of Nov 3, 2026 | $679m | $53m |
| Holdings | ||
| Holdings in common | 0% | |
Risk and return
Sep 26, 2025 to Oct 30, 2026 · 57 weekly returnsFrom Sep 2025 to Oct 2026, QLDY returned more: +13.0% to +7.7%. FEPI swung less: 19.2% to 21.4%. FEPI fell less at its worst: −11.5% to −13.1%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FEPI | QLDY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +7.7% | +13.0% | QLDY | Price change plus distributions, reinvested. |
| Annualized | +7.0% | +11.8% | QLDY | Total return as a yearly rate. |
| Price return | −16.9% | −27.2% | FEPI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.2% | 21.4% | FEPI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.8% | 14.3% | FEPI (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −11.5% | −13.1% | FEPI | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.25 | 0.45 | QLDY | Return above Treasury bills per unit of volatility. |
| Sortino | 0.35 | 0.68 | QLDY | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.61 | 0.90 | QLDY | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 57 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FEPI and QLDY hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 4, 2026.
half
0% 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 | QLDY | FEPI | QLDY | FEPI | QLDY |
| 3 months | −1.5% | −4.5% | 6.4% | 9.5% | not measured | −1.1 pts |
| 6 months | −2.4% | −3.1% | 11.2% | 18.5% | not measured | −2.8 pts |
| 1 year | +2.9% | +9.1% | 22.1% | 35.3% | not measured | −3.2 pts |
| 3 years | +55.6% | – | 69.1% | – | not measured | – |
| Since launchNot the same days: FEPI Oct 2023 · QLDY Sep 2025 | +56.7% | +13.2% | 69.6% | 39.1% | not measured | −3.7 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.
QLDY
Over the year to Nov 4, 2026, QLDY paid 35.3% of its starting value in cash distributions while its price fell 27.2%. With every distribution reinvested, the fund returned +9.1%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was behind by 3.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 19.7%, paid weekly. Defiance estimates that 0% of the distribution paid Nov 2, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
Questions people ask
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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.
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ETFIQ, FEPI against QLDY, data as of Nov 4, 2026. https://etfiq.com/compare/income/fepi-vs-qldy
ETFIQ. (Nov 4, 2026). FEPI against QLDY. Retrieved from https://etfiq.com/compare/income/fepi-vs-qldy
[FEPI against QLDY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/fepi-vs-qldy)
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