Data as of .
FEPI vs QLDY: which paid, and which earned it?
Over the year QLDY paid 29.2% of its price in cash against FEPI’s 23.4%, though FEPI returned more with it reinvested.
ETFIQ Return Stability Score: FEPI scores higher
Was the payout funded by returns, or by your own capital?
A percentile among the 173 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 QLDY hold 0% of their money in the same securities at the same weight.
| Only in FEPI | Only in QLDY |
|---|---|
| ADVANCED MICRO DEVICES, INC. 9.98% | Ndx 12/18/2026 2001.44 C 94.80% |
| MICRON TECHNOLOGY, INC. 8.91% | First American Government Obligations Fund 12/01/2031 4.77% |
| ALPHABET INC. 8.83% | United States Treasury Note/bond 2.375% 05/15/2027 0.53% |
| BROADCOM INC. 8.05% | Ndxp Us 09/21/26 P29500 0.08% |
| NVIDIA CORPORATION 7.76% | Xnd 12/18/2026 10.44 C 0.05% |
| TESLA, INC. 7.47% | Cash & Other -0.06% |
| INTEL CORPORATION 5.24% | Nasdaq-1 Put Opt 09/26 29650 -0.16% |
| 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 and Sep 21, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| FEPI | QLDY | FEPI | QLDY | FEPI | QLDY | |
| 3 months | +2.9% | −6.6% | 6.0% | 8.3% | +5.4 pts | −4.1 pts |
| 6 months | +17.2% | +20.1% | 12.8% | 18.7% | −7.1 pts | −4.2 pts |
| 1 year | +15.7% | +10.6% | 23.4% | 29.2% | −6.1 pts | −11.2 pts |
| Since launch | +69.0% | +10.6% | 66.8% | 29.2% | −28.5 pts | −11.2 pts |
| FEPI REX FANG & Innovation Equity Premium Income ETF Covered call on QQQ, paying weekly | QLDY Defiance Nasdaq 100 LightningSpread(TM) Income ETF Option income on QQQ, paying weekly | |
|---|---|---|
| Issuer | REX | Defiance |
| Strategy | covered call | option income |
| Benchmark | Nasdaq-100 (QQQ), used as the innovation proxy | Nasdaq-100 (QQQ) |
| Pays | weekly | weekly |
| Payout rate, annualized | 24.9% | 19.6% |
| Expense ratio | 0.65% | 1.04% |
| Cash paid, 1 year | 23.4% | 29.2% |
| Price change, 1 year | −10.0% | −20.3% |
| Total return, 1 year | +15.7% | +10.6% |
| Benchmark return, 1 year | +21.8% | +21.8% |
| Ahead or behind | −6.1 pts | −11.2 pts |
| Return of capital, latest estimate | not published | 100% |
| Age | 1073 days | 365 days |
| Net assets | $713m | $52m |
FEPI in plain words
Over the year to Sep 18, 2026, FEPI paid 23.4% of its starting value in cash distributions while its price fell 10.0%. With every distribution reinvested, the fund returned +15.7%. Nasdaq-100 (QQQ), used as the innovation proxy returned +21.8% over the same days, so a holder was behind by 6.1 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 24.9%, paid weekly.
QLDY in plain words
Over the year to Sep 18, 2026, QLDY paid 29.2% of its starting value in cash distributions while its price fell 20.3%. With every distribution reinvested, the fund returned +10.6%. Nasdaq-100 (QQQ) returned +21.8% over the same days, so a holder was behind by 11.2 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 19.6%, paid weekly. Defiance estimates that 100% of the distribution paid Sep 17, 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 QLDY?
- Over the year to Sep 18, 2026, FEPI paid 23.4% of its starting price in cash and QLDY paid 29.2%, so QLDY 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 QLDY?
- With every distribution reinvested, FEPI returned +15.7% and QLDY returned +10.6% over the year to Sep 18, 2026, so FEPI returned more.
- Which is cheaper, FEPI or QLDY?
- FEPI charges 0.65% a year and QLDY charges 1.04%, 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 QLDY, data as of Sep 18, 2026. https://etfiq.com/compare/income/fepi-vs-qldy Free to use with attribution; the underlying files are at Open data.