Data as of Oct 28, 2026.
FEPI vs YMAX: Dividend Yield & Total Return
Over the year to Oct 28, 2026, YMAX paid 36.1% 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 $352m for YieldMax Universe Fund of Option Income ETFs.
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% cash
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, 2026.14.9 pts behind its own holdings
YMAX over 1 year: paid 36.1%, price −42.4%, total −4.0%, its own holdings +10.9%, −14.9 pts. Data to Oct 28, 2026.
its own holdings
+10.9%
YMAX
−4.0%
14.9 pts behind its own holdings
Total return, distributions reinvested
14.9 pts behind its own holdings
YMAX over 1 year: paid 36.1%, price −42.4%, total −4.0%, its own holdings +10.9%, −14.9 pts. Data to Oct 28, 2026.
its own holdings
+10.9%
YMAX
−4.0%
14.9 pts behind its own holdings
36.1% of it arrived as cash. Both charts share one scale, with zero at the line. YMAX over 1 year: paid 36.1%, price −42.4%, total −4.0%, its own holdings +10.9%, −14.9 pts. Data to Oct 28, 2026.
Data to Oct 28, 2026.Pair scorecard
FEPI costs 0.68 points a year less; their one-year returns differ by 12.5 points; FEPI is 2.1 times larger.
Points (pts) are percentage points.
| Measure | FEPI | YMAX |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +8.5% | −4.0% |
| Price change, 1 year | fell 16.3% | fell 42.4% |
| Return of capital, issuer estimate | 35% of the Oct 29, 2026 payment | |
| Against its benchmark | ||
| Benchmark | not published | its own holdings |
| Cost and size | ||
| Expense ratio | 0.65% | 1.33% |
| Net assets, as of Oct 27, 2026 | $725m | $352m |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Jul 31, 2026 and Oct 28, 2026. Method
Risk and return
Jan 26, 2024 to Oct 23, 2026 · 143 weekly returnsFEPI returned slightly more: +41.8% to +38.1%. FEPI swung less: 19.4% to 21.8%. FEPI fell slightly less at its worst: −22.7% to −24.1%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FEPI | YMAX | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +41.8% | +38.1% | FEPI (slight) | Price change plus distributions, reinvested. |
| Annualized | +13.5% | +12.5% | FEPI (slight) | Total return as a yearly rate. |
| Price return | −27.9% | −64.9% | FEPI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.4% | 21.8% | FEPI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.9% | 15.1% | FEPI (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −22.7% | −24.1% | FEPI (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.53 | 0.45 | FEPI | Return above Treasury bills per unit of volatility. |
| Sortino | 0.74 | 0.65 | FEPI | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.60 | 0.52 | FEPI | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 143 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FEPI and YMAX hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 28, 2026.
half
0% 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 | YMAX | FEPI | YMAX | FEPI | YMAX |
| 3 months | +16.3% | +10.0% | 7.0% | 10.6% | not measured | −18.4 pts |
| 6 months | +8.1% | +10.4% | 11.0% | 22.3% | not measured | −15.1 pts |
| 1 year | +8.5% | −4.0% | 22.9% | 36.1% | not measured | −14.9 pts |
| 3 years | +78.0% | – | 72.9% | – | not measured | – |
| Since launchNot the same days: FEPI Oct 2023 · YMAX Jan 2024 | +69.0% | +43.9% | 69.2% | 93.4% | not measured | not measured |
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FEPI and YMAX are built for the same job. How do they differ in cost, holdings and results?
- Income paid. FEPI paid 22.9% and YMAX 36.1% (cash paid over 1 year, as a share of its price at the start), a gap of 13.2 points.
- Holdings in common. 0% 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 YMAX −4.0% with distributions reinvested, a gap of 12.5 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.
YMAX
Over the year to Oct 28, 2026, YMAX paid 36.1% of its starting value in cash distributions while its price fell 42.4%. With every distribution reinvested, the fund returned −4.0%. YMAX's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Oct 26, 2026) returned +10.9% over the same days, so a holder was behind by 14.9 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 39.9%, paid weekly. YieldMax estimates that 35% 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.
Cite this pageCitation, APA and Markdown
ETFIQ, FEPI against YMAX, data as of Oct 28, 2026. https://etfiq.com/compare/income/fepi-vs-ymax
ETFIQ. (Oct 28, 2026). FEPI against YMAX. Retrieved from https://etfiq.com/compare/income/fepi-vs-ymax
[FEPI against YMAX (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/income/fepi-vs-ymax)
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