Which paid more, FEPI or XPAY?

Over the year to Nov 4, 2026, FEPI paid 22.1% of its starting price in cash and XPAY paid 19.7%, so FEPI 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 XPAY?

With every distribution reinvested, FEPI returned +2.9% and XPAY +14.0% over the year to Nov 4, 2026.

Which is cheaper, FEPI or XPAY?

FEPI charges 0.65% a year and XPAY charges 0.49%, so XPAY is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

FEPI vs XPAY: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, FEPI paid 22.1% of its price in cash against XPAY’s 19.7%, though XPAY returned more with it reinvested.

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Net assets: $679m on Nov 3, 2026 for REX FANG & Innovation Equity Premium Income ETF, and $187m on Nov 4, 2026 for Roundhill S&P 500 Target 20 Managed Distribution ETF.

FEPI on its own →XPAY on its own →

At a glance

22.1%

FEPI cash paid, 1 year

19.7%

XPAY cash paid, 1 year

+2.9%

FEPI total return, 1 year

+14.0%

XPAY total return, 1 year

FEPI · 1 year to Nov 4, 2026 Not measured

FEPI

+2.9%

none

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.

XPAY · 1 year to Nov 4, 2026 0.8 pts behind VOO

XPAY

+14.0%

VOO

+14.8%

0.8 pts behind VOO

XPAY over 1 year: paid 19.7%, price −7.2%, total +14.0%, VOO +14.8%, −0.8 pts. Data to Nov 4, 2026.

VOO

+14.8%

XPAY

+14.0%

19.7% of it arrived as cash

0.8 pts behind VOO

Total return, distributions reinvested

0.8 pts behind VOO

XPAY over 1 year: paid 19.7%, price −7.2%, total +14.0%, VOO +14.8%, −0.8 pts. Data to Nov 4, 2026.

VOO

+14.8%

XPAY

+14.0%

19.7% as cash

0.8 pts behind VOO

19.7% of it arrived as cash. Both charts share one scale, with zero at the line. XPAY over 1 year: paid 19.7%, price −7.2%, total +14.0%, VOO +14.8%, −0.8 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

XPAY costs 0.16 points a year less; their one-year returns differ by 11.1 points; FEPI is 3.7 times larger.

Points (pts) are percentage points.

FEPI vs XPAY: Dividend Yield & Total Return
Measure	FEPI	XPAY
Paid and earned
Measure	FEPI	XPAY
Total return, 1 year	+2.9%	+14.0%
Price change, 1 year	fell 19.3%	fell 7.2%
Return of capital, issuer estimate		100% of the Oct 15, 2026 payment
Against its benchmark
Measure	FEPI	XPAY
Benchmark	not published	Vanguard S&P 500 ETF, measured through VOO
Cost and size
Measure	FEPI	XPAY
Expense ratio	0.65%	0.49%
Net assets, as of Nov 3, 2026	$679m	$183m
Holdings
Measure	FEPI	XPAY
Holdings in common	0%

Method

Risk and return

Nov 8, 2024 to Oct 30, 2026 · 103 weekly returns

FEPI XPAY

Return

Total return edge XPAY +18.8% +27.3%

Annualized edge XPAY +9.1% +12.9%

Price return edge XPAY −27.4% −14.6%

Risk

Volatility edge XPAY 20.1% 14.9%

Max drawdown edge XPAY −22.7% −17.1%

Risk-adjusted

Sharpe edge XPAY 0.33 0.62

Sortino edge XPAY 0.46 0.93

Calmar edge XPAY 0.40 0.76

Reading

From Nov 2024 to Oct 2026, XPAY returned more: +27.3% to +18.8%. XPAY swung less: 14.9% to 20.1%. XPAY fell less at its worst: −17.1% to −22.7%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: FEPI vs XPAY: Dividend Yield & Total Return
Measure	FEPI	XPAY	Edge	How it is measured
Return
Total return	+18.8%	+27.3%	XPAY	Price change plus distributions, reinvested.
Annualized	+9.1%	+12.9%	XPAY	Total return as a yearly rate.
Price return	−27.4%	−14.6%	XPAY	Price change alone, distributions left out.
Risk
Volatility	20.1%	14.9%	XPAY	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	14.5%	9.9%	XPAY	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−22.7%	−17.1%	XPAY	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.33	0.62	XPAY	Return above Treasury bills per unit of volatility.
Sortino	0.46	0.93	XPAY	Return above Treasury bills per unit of downside deviation.
Calmar	0.40	0.76	XPAY	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 103 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, FEPI and XPAY hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 4, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first FEPI XPAY

Only in one fund ↓

Only in FEPI

ALPHABET INC. 7.00%

BROADCOM INC. 6.95%

APPLE INC. 6.90%

NVIDIA CORPORATION 6.68%

ADVANCED MICRO DEVICES, INC. 6.04%

MICRON TECHNOLOGY, INC. 5.88%

META PLATFORMS, INC. 4.25%

MICROSOFT CORPORATION 4.23%

Only in XPAY

SPY 12/10/2027 38.04 C 94.39%

Check overlap with more funds →

Side by side

FEPI REX FANG & Innovation Equity Premium Income ETF · Covered call, paying weekly XPAY Roundhill S&P 500 Target 20 Managed Distribution ETF · Option income on VOO, paying monthly

Issuer REX Roundhill

Strategy covered call option income

Benchmark none Vanguard S&P 500 ETF (VOO)

Pays weekly monthly

Payout rate, annualized 24.9% 21.1%

Expense ratio 0.65% 0.49%

Cash paid, 1 year 22.1% 19.7%

Price change, 1 year −19.3% −7.2%

Total return, 1 year +2.9% +14.0%

Benchmark return, 1 year not published +14.8%

Ahead or behind not available −0.8 pts

Return of capital, latest estimate not published 100%

Age 3.1 years 2.0 years

Net assets, FEPI as of Nov 3, 2026 and XPAY as of Nov 4, 2026 $679m $187m

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

Window by window: FEPI vs XPAY: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	FEPI	XPAY	FEPI	XPAY	FEPI	XPAY
3 months	−1.5%	−0.3%	6.4%	5.0%	not measured	−0.2 pts
6 months	−2.4%	+4.9%	11.2%	10.0%	not measured	−0.1 pts
1 year	+2.9%	+14.0%	22.1%	19.7%	not measured	−0.9 pts
3 years	+55.6%	–	69.1%	–	not measured	–
Since launchNot the same days: FEPI Oct 2023 · XPAY Oct 2024	+56.7%	+35.6%	69.6%	39.0%	not measured	−2.6 pts

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About each fund

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.

XPAY

Over the year to Nov 4, 2026, XPAY paid 19.7% of its starting value in cash distributions while its price fell 7.2%. With every distribution reinvested, the fund returned +14.0%. Vanguard S&P 500 ETF (VOO) returned +14.8% over the same days, so a holder was behind by 0.8 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 21.1%, paid monthly. Roundhill estimates that 100% of the distribution paid Oct 15, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

Questions people ask

Which paid more, FEPI or XPAY?: Over the year to Nov 4, 2026, FEPI paid 22.1% of its starting price in cash and XPAY paid 19.7%, so FEPI 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 XPAY?: With every distribution reinvested, FEPI returned +2.9% and XPAY +14.0% over the year to Nov 4, 2026.
Which is cheaper, FEPI or XPAY?: FEPI charges 0.65% a year and XPAY charges 0.49%, so XPAY is cheaper. Fees come from each fund's prospectus.

Other comparisons

FEPI vs TSPY FEPI vs OVLH FEPI vs OVL FEPI vs XIJN XPAY vs YYY XPAY vs SIXH XPAY vs QDTE XPAY vs SDVD

Where to next

Vanguard S&P 500 ETF (VOO) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →FEPI on its own →XPAY on its own →FEPI dividend history →FEPI holdings →XPAY dividend history →XPAY holdings →Method →Standards and sources →

Sources and dates

FEPI filings on SEC EDGAR ↗

FEPI prospectus with the expense ratio (SEC) ↗

REX page for FEPI ↗

XPAY filings on SEC EDGAR ↗

XPAY prospectus with the expense ratio (SEC) ↗

XPAY 19a-1 distribution notice ↗

Roundhill page for XPAY ↗

Links are sources, not endorsements. A comparison is not a recommendation.

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.

Cite this pageCitation, APA and Markdown

ETFIQ, FEPI against XPAY, data as of Nov 4, 2026. https://etfiq.com/compare/income/fepi-vs-xpay

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.