Data as of .
FEPI vs TPAY: which paid, and which earned it?
FEPI and TPAY both write options for income.
What they hold in common
By the books each fund has filed, FEPI and TPAY hold 0% of their money in the same securities at the same weight.
| Only in FEPI | Only in TPAY |
|---|---|
| ADVANCED MICRO DEVICES, INC. 9.98% | SPY 03/12/2027 33.67 C 61.75% |
| MICRON TECHNOLOGY, INC. 8.91% | SPY 04/16/2027 33.18 C 33.20% |
| ALPHABET INC. 8.83% | SPYM 03/12/2027 3.33 C 5.05% |
| BROADCOM INC. 8.05% | |
| NVIDIA CORPORATION 7.76% | |
| 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 and Sep 18, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| FEPI | TPAY | FEPI | TPAY | FEPI | TPAY | |
| 3 months | +2.9% | +1.5% | 6.0% | 2.4% | +5.4 pts | −0.8 pts |
| 6 months | +17.2% | +17.3% | 12.8% | 5.3% | −7.1 pts | −0.7 pts |
| 1 year | +15.7% | not published | 23.4% | not published | −6.1 pts | not published |
| Since launch | +69.0% | +11.0% | 66.8% | 5.8% | −28.5 pts | −0.8 pts |
| FEPI REX FANG & Innovation Equity Premium Income ETF Covered call on QQQ, paying weekly | TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF Option income on SPY, paying monthly | |
|---|---|---|
| Issuer | REX | Roundhill |
| Strategy | covered call | option income |
| Benchmark | Nasdaq-100 (QQQ), used as the innovation proxy | S&P 500 (SPY) |
| Pays | weekly | monthly |
| Payout rate, annualized | 24.9% | 9.5% |
| Expense ratio | 0.65% | 0.49% |
| Cash paid, 1 year | 23.4% | 5.8% (since launch on Feb 18, 2026) |
| Price change, 1 year | −10.0% | +4.9% |
| Total return, 1 year | +15.7% | +11.0% (since launch on Feb 18, 2026) |
| Benchmark return, 1 year | +21.8% | +11.8% |
| Ahead or behind | −6.1 pts | −0.8 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 1073 days | 212 days |
| Net assets | $713m | $2m |
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.
TPAY in plain words
Over the period since launch on Feb 18, 2026 to Sep 18, 2026, TPAY paid 5.8% of its starting value in cash distributions while its price rose 4.9%. With every distribution reinvested, the fund returned +11.0%. S&P 500 (SPY) returned +11.8% over the same days, so a holder was behind by 0.8 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 9.5%, paid monthly.
Questions people ask
- Which is cheaper, FEPI or TPAY?
- FEPI charges 0.65% a year and TPAY charges 0.49%, so TPAY 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 TPAY, data as of Sep 18, 2026. https://etfiq.com/compare/income/fepi-vs-tpay Free to use with attribution; the underlying files are at Open data.