Data as of Oct 28, 2026.
FEPI vs ULTY: Dividend Yield & Total Return
Over the year to Oct 28, 2026, ULTY paid 44.3% of its price in cash against FEPI’s 22.9%, though FEPI returned more with it reinvested.
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Net assets on Oct 27, 2026: $725m for REX FANG & Innovation Equity Premium Income ETF and $627m for YieldMax Ultra Option Income Strategy ETF.
Not measured
FEPI over 1 year: paid 22.9%, price −16.3%, total +8.5%, not measured against a benchmark. Data to Oct 28, 2026.
FEPI
+8.5%
22.9% of it arrived as cash
Total return, distributions reinvested
Not measured
FEPI over 1 year: paid 22.9%, price −16.3%, total +8.5%, not measured against a benchmark. Data to Oct 28, 2026.
FEPI
+8.5%
22.9% of it arrived as cash. Total return, distributions reinvested. FEPI over 1 year: paid 22.9%, price −16.3%, total +8.5%, not measured against a benchmark. Data to Oct 28, 2026.
Data to Oct 28, 2026.4.1 pts ahead of its own holdings
ULTY over 1 year: paid 44.3%, price −55.2%, total −11.2%, its own holdings −15.3%, +4.1 pts. Data to Oct 28, 2026.
its own holdings
−15.3%
ULTY
−11.2%
4.1 pts ahead of its own holdings
Total return, distributions reinvested
4.1 pts ahead of its own holdings
ULTY over 1 year: paid 44.3%, price −55.2%, total −11.2%, its own holdings −15.3%, +4.1 pts. Data to Oct 28, 2026.
its own holdings
−15.3%
ULTY
−11.2%
44.3% of it arrived as cash. Both charts share one scale, with zero at the line. ULTY over 1 year: paid 44.3%, price −55.2%, total −11.2%, its own holdings −15.3%, +4.1 pts. Data to Oct 28, 2026.
Data to Oct 28, 2026.Pair scorecard
FEPI costs 0.65 points a year less; their one-year returns differ by 19.7 points; FEPI is 1.2 times larger.
Points (pts) are percentage points.
| Measure | FEPI | ULTY |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +8.5% | −11.2% |
| Price change, 1 year | fell 16.3% | fell 55.2% |
| Return of capital, issuer estimate | 100% of the Oct 29, 2026 payment | |
| Against its benchmark | ||
| Benchmark | not published | its own holdings |
| Cost and size | ||
| Expense ratio | 0.65% | 1.30% |
| Net assets, as of Oct 27, 2026 | $725m | $627m |
| Holdings | ||
| Holdings in common | 17% | |
Holdings in common uses holdings dated Jul 31, 2026 and Oct 28, 2026. Method
Risk and return
Mar 8, 2024 to Oct 23, 2026 · 137 weekly returnsFEPI returned more: +38.5% to −0.3%. FEPI swung less: 19.7% to 24.1%. FEPI fell less at its worst: −22.7% to −25.9%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FEPI | ULTY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +38.5% | −0.3% | FEPI | Price change plus distributions, reinvested. |
| Annualized | +13.2% | −0.1% | FEPI | Total return as a yearly rate. |
| Price return | −28.1% | −88.7% | FEPI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.7% | 24.1% | FEPI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 14.1% | 18.4% | FEPI | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −22.7% | −25.9% | FEPI | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.51 | −0.06 | FEPI | Return above Treasury bills per unit of volatility. |
| Sortino | 0.71 | −0.08 | FEPI | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.58 | 0.00 | FEPI | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 137 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FEPI and ULTY hold 17% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 28, 2026.
half
17% in common
Only in one fund ↓
Side by side
As of Oct 28, 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 | ULTY | FEPI | ULTY | FEPI | ULTY |
| 3 months | +16.3% | +4.2% | 7.0% | 15.4% | not measured | −9.8 pts |
| 6 months | +8.1% | +1.0% | 11.0% | 28.1% | not measured | −6.6 pts |
| 1 year | +8.5% | −11.2% | 22.9% | 44.3% | not measured | +4.1 pts |
| 3 years | +78.0% | – | 72.9% | – | not measured | – |
| Since launchNot the same days: FEPI Oct 2023 · ULTY Feb 2024 | +69.0% | +4.4% | 69.2% | 87.8% | not measured | not measured |
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FEPI and ULTY are built for the same job. How do they differ in cost, holdings and results?
- Income paid. FEPI paid 22.9% and ULTY 44.3% (cash paid over 1 year, as a share of its price at the start), a gap of 21.4 points.
- Holdings in common. 17% of the weight is in the same securities (holdings dated Jul 31, 2026 and Oct 28, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 FEPI returned +8.5% and ULTY −11.2% with distributions reinvested, a gap of 19.7 points.
Data as of Oct 28, 2026.
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FEPI
Over the year to Oct 28, 2026, FEPI paid 22.9% of its starting value in cash distributions while its price fell 16.3%. With every distribution reinvested, the fund returned +8.5%. At its price on Oct 28, 2026 the latest distribution annualizes to 24.6%, paid weekly.
ULTY
Over the year to Oct 28, 2026, ULTY paid 44.3% of its starting value in cash distributions while its price fell 55.2%. With every distribution reinvested, the fund returned −11.2%. ULTY's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Oct 26, 2026) returned −15.3% over the same days, so a holder was ahead by 4.1 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 60.7%, paid weekly. YieldMax estimates that 100% of the distribution paid Oct 29, 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 ULTY, data as of Oct 28, 2026. https://etfiq.com/compare/income/fepi-vs-ulty
ETFIQ. (Oct 28, 2026). FEPI against ULTY. Retrieved from https://etfiq.com/compare/income/fepi-vs-ulty
[FEPI against ULTY (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/income/fepi-vs-ulty)
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