Data as of .
FEPI vs ULTY: which paid, and which earned it?
Over the year ULTY paid 46.9% 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 161 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 ULTY hold 24% of their money in the same securities at the same weight.
| Holding | FEPI | ULTY |
|---|---|---|
| ALPHABET INC. | 8.83% | 5.66% |
| AMAZON.COM, INC. | 5.21% | 5.16% |
| NVIDIA CORPORATION | 7.76% | 4.80% |
| PALANTIR TECHNOLOGIES INC. | 5.17% | 4.40% |
| ADVANCED MICRO DEVICES, INC. | 9.98% | 4.15% |
| Only in FEPI | Only in ULTY |
|---|---|
| MICRON TECHNOLOGY, INC. 8.91% | Analog Devices Inc 5.47% |
| BROADCOM INC. 8.05% | Lam Research Corp 4.99% |
| TESLA, INC. 7.47% | Ciena Corp 4.95% |
| INTEL CORPORATION 5.24% | Quanta Services Inc 4.95% |
| MICROSOFT CORPORATION 5.19% | Lumentum Holdings Inc 4.86% |
| APPLOVIN CORPORATION 5.16% | IREN Ltd 4.80% |
| NETFLIX, INC. 5.16% | Strategy Inc 4.65% |
| ORACLE CORPORATION 5.16% | Astera Labs Inc 4.56% |
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.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| FEPI | ULTY | FEPI | ULTY | FEPI | ULTY | |
| 3 months | +4.2% | −0.3% | 6.1% | 14.2% | +5.0 pts | −3.6 pts |
| 6 months | +14.6% | +11.2% | 12.1% | 29.8% | −6.1 pts | −4.8 pts |
| 1 year | +17.1% | −5.8% | 23.4% | 46.9% | −5.8 pts | −23.3 pts |
| Since launch | +67.5% | +9.0% | 66.4% | 86.7% | −28.2 pts | −45.9 pts |
| FEPI REX FANG & Innovation Equity Premium Income ETF Covered call on QQQ, paying weekly | ULTY YieldMax(R) Ultra Option Income Strategy ETF Synthetic covered call on SPY, paying weekly | |
|---|---|---|
| Issuer | REX | YieldMax |
| Strategy | covered call | synthetic covered call |
| Benchmark | Nasdaq-100 (QQQ), used as the innovation proxy | S&P 500 (SPY), used as a default proxy |
| Pays | weekly | weekly |
| Payout rate, annualized | 25.2% | 61.5% |
| Expense ratio | 0.65% | 1.30% |
| Cash paid, 1 year | 23.4% | 46.9% |
| Price change, 1 year | −8.5% | −53.3% |
| Total return, 1 year | +17.1% | −5.8% |
| Benchmark return, 1 year | +23.0% | +17.5% |
| Ahead or behind | −5.8 pts | −23.3 pts |
| Return of capital, latest estimate | not published | 100% |
| Age | 1066 days | 925 days |
FEPI in plain words
Over the year to Sep 11, 2026, FEPI paid 23.4% of its starting value in cash distributions while its price fell 8.5%. With every distribution reinvested, the fund returned +17.1%. Nasdaq-100 (QQQ), used as the innovation proxy returned +23.0% over the same days, so a holder was behind by 5.8 pts. At its price on Sep 11, 2026 the latest distribution annualizes to 25.2%, paid weekly.
ULTY in plain words
Over the year to Sep 11, 2026, ULTY paid 46.9% of its starting value in cash distributions while its price fell 53.3%. With every distribution reinvested, the fund returned −5.8%. S&P 500 (SPY), used as a default proxy returned +17.5% over the same days, so a holder was behind by 23.3 pts. At its price on Sep 11, 2026 the latest distribution annualizes to 61.5%, paid weekly. YieldMax estimates that 100% of the distribution paid Sep 10, 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 ULTY?
- Over the year to Sep 11, 2026, FEPI paid 23.4% of its starting price in cash and ULTY paid 46.9%, so ULTY 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 ULTY?
- With every distribution reinvested, FEPI returned +17.1% and ULTY returned −5.8% over the year to Sep 11, 2026, so FEPI returned more.
- Which is cheaper, FEPI or ULTY?
- FEPI charges 0.65% a year and ULTY charges 1.30%, 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 ULTY, data as of Sep 11, 2026. https://etfiq.com/compare/income/fepi-vs-ulty Free to use with attribution; the underlying files are at Open data.