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FEPI REX FANG & Innovation Equity Premium Income ETF

Covered call on QQQ, paying weekly

Over the year to Sep 11, 2026, FEPI paid 23.4% in cash and still finished 5.8 points behind QQQ.

REX · Income ETFs · data as of

Key facts

23.4%Cash paid, 1 year, on its starting price
+17.1%Total return, 1 year
−5.8 ptsAgainst QQQ
25.2%Latest payout, annualized

Method

ETFIQ Return Stability Score

37.9joint 119th of 161

FEPI paid 23.4% in cash. Its price fell 8.5%, so 36% of what you were paid came back out of your own capital.

Was the payout funded by returns, or by your own capital?

Against its benchmark
MLPD −38.1 ptsMDST −30.2 ptsSLTY −29.1 ptsBLOX −27.8 ptsEIPI −27.8 ptsYQQQ −27.6 ptsULTY −23.3 ptsGDXY −22.0 ptsHIGH −20.8 ptsTOPW −18.6 ptsTDVI −18.3 ptsYMAX −18.1 ptsHISF −17.3 ptsACKY −17.2 ptsWEEI −16.9 ptsNDIV −16.6 ptsLQDW −16.2 ptsOARK −15.8 ptsFDND −15.5 ptsTCAL −15.0 ptsQRMI −14.8 ptsSDVD −14.8 ptsLFGY −14.5 ptsSLJY −14.5 ptsSCLZ −14.1 ptsYFYA −13.9 ptsQUSA −13.5 ptsHYGW −13.0 ptsJULH −13.0 ptsXLRI −13.0 ptsMAGY −12.9 ptsYYY −12.7 ptsXLKI −12.6 ptsJULJ −12.4 ptsLJUL −12.4 ptsJANJ −12.3 ptsLJAN −12.3 ptsFGSI −12.2 ptsLOCT −12.1 ptsRNTY −12.1 ptsAIPI −12.0 ptsIWMY −12.0 ptsOCTJ −11.9 ptsHIPS −11.7 ptsJUCY −11.6 ptsXLEI −11.6 ptsAPRJ −11.3 ptsLAPR −11.3 ptsXISE −11.3 ptsXIJN −11.1 ptsCVRD −11.0 ptsJANH −11.0 ptsAPRH −10.9 ptsXBTY −10.7 ptsXIDE −10.7 ptsOCTH −10.6 ptsJEPI −10.3 ptsXIMR −10.1 ptsSRHR −9.7 ptsXRMI −8.7 ptsVEGA −8.3 ptsBUYW −8.2 ptsIAUI −7.9 ptsBAGY −7.7 ptsXV −7.5 ptsKHPI −7.3 ptsYBTC −7.3 ptsFTHI −7.0 ptsYLDE −6.8 ptsIGLD −6.1 ptsQQQI −6.1 ptsRDVI −6.0 ptsSPIN −5.9 ptsIWMW −5.8 ptsTYLG −5.7 ptsBITY −5.6 ptsSPUT −5.4 ptsWTPI −5.2 ptsPAPI −4.7 ptsXLVI −4.7 ptsETCO −4.3 ptsJEPQ −4.1 ptsCAIE −4.0 ptsFTKI −3.9 ptsGPTY −3.7 ptsIQQQ −3.7 ptsGIAX −3.4 ptsBIGY −3.3 ptsISPY −3.1 ptsRYLD −3.1 ptsWEEL −2.9 ptsYMAG −2.9 ptsRDTY −2.6 ptsXLBI −2.5 ptsNBOS −1.8 ptsRYLG −1.8 ptsSPYI −1.7 ptsFTQI −1.6 ptsKNG −1.6 ptsTSPY −1.6 ptsTHTA −1.5 ptsQQQY −1.3 ptsRDTE −1.3 ptsDIVO −1.2 ptsSIXH −1.2 ptsXYLD −1.2 ptsDFII −1.1 ptsGPIQ −1.1 ptsQDTY −1.1 ptsXYLG −1.1 ptsXDTE −0.9 ptsQDTE −0.7 ptsQYLD −0.7 ptsXLII −0.7 ptsXPAY −0.7 ptsEGGY −0.6 ptsJOYT −0.6 ptsSDTY −0.6 ptsWDTE −0.4 ptsBTCC −0.3 ptsQYLG −0.3 ptsGPIX 0.0 ptsDJIA +0.1 ptsDYLG +0.3 ptsIWMI +0.3 ptsKGLD +0.3 ptsXLFI +0.3 ptsIVVW +0.4 ptsLTTI +0.5 ptsLQTI +0.6 ptsPBP +0.6 ptsHYTI +0.9 ptsTDAQ +0.9 ptsCSHI +1.3 ptsBALI +1.4 ptsYETH +1.5 ptsHYBL +1.6 ptsXLUI +1.6 ptsCHPY +1.9 ptsBTCI +2.1 ptsSOXY +2.3 ptsITWO +2.5 ptsDOGG +2.7 ptsCEPI +2.9 ptsXLYI +2.9 ptsYBIT +2.9 ptsTLTP +3.4 ptsDUBS +4.0 ptsSEPI +4.7 ptsXLCI +5.2 ptsIDVO +5.4 ptsTLTW +5.4 ptsBCCC +6.3 ptsOMAH +6.5 ptsIDUB +6.9 ptsXLSI +8.8 ptsUSOY +10.5 ptsBUCK +10.9 ptsKLIP +20.9 ptsNVYY +24.6 ptsFEPI −5.8 ptsFEPI −5.8 pts−38.1 pts+24.6 pts

45.7% of the 161 sit at or below FEPI on this measure.

What happened to the principal
ETCO −75.0%XBTY −74.7%YETH −67.4%YBTC −61.4%BTCC −59.9%YBIT −58.9%BAGY −58.0%SLTY −54.4%ULTY −53.3%NVYY −52.4%BITY −51.9%BCCC −49.4%BTCI −46.9%DFII −44.8%LFGY −43.0%YMAX −41.0%BLOX −38.8%TOPW −36.6%OARK −33.3%KLIP −32.8%GDXY −32.5%YMAG −27.1%YQQQ −26.3%MAGY −25.8%IWMY −23.1%CEPI −21.0%RDTY −19.9%RDTE −19.4%QDTE −18.5%EGGY −15.1%TLTP −14.5%XLYI −14.1%LTTI −13.8%ACKY −13.7%WDTE −13.7%QQQY −13.0%QDTY −12.8%XDTE −12.8%AIPI −12.2%QUSA −11.8%LQTI −10.4%TLTW −10.3%SDTY −9.9%GIAX −9.8%XLUI −9.5%HIGH −9.3%LQDW −9.3%TCAL −9.0%XV −8.4%IGLD −8.1%XLRI −8.0%XLCI −7.9%FDND −7.6%YYY −7.5%XLSI −7.3%RNTY −6.5%HYTI −6.3%GPTY −6.0%OMAH −6.0%XLBI −5.7%HYGW −5.6%IWMW −5.3%HIPS −5.2%XPAY −4.9%HISF −4.7%QRMI −4.2%USOY −4.0%XLFI −3.8%FGSI −3.2%BUCK −2.5%HYBL −2.5%JUCY −2.3%XRMI −2.3%MLPD −1.7%CAIE −1.6%IAUI −1.6%YFYA −1.6%IVVW −1.4%CVRD −1.3%JEPI −1.1%KNG −0.9%XIJN −0.7%JULJ −0.6%WTPI −0.5%CSHI −0.4%JULH −0.3%LJUL −0.2%XISE 0.0%JANH +0.1%JANJ +0.1%LAPR +0.1%LOCT +0.1%LJAN +0.2%OCTJ +0.2%XLII +0.2%APRJ +0.3%OCTH +0.3%XIDE +0.3%XIMR +0.4%APRH +0.5%TSPY +0.6%KHPI +0.7%BIGY +0.8%WEEL +0.9%SRHR +1.0%FTHI +1.1%QQQI +1.5%XLVI +2.1%SPYI +2.6%QYLG +2.8%YLDE +2.8%BUYW +2.9%SDVD +3.0%XYLG +3.4%KGLD +3.8%THTA +3.9%DJIA +4.2%FTKI +4.3%SCLZ +4.4%PAPI +4.5%RYLD +4.7%XLKI +5.0%PBP +5.1%IWMI +5.3%DYLG +5.4%TDAQ +5.9%XYLD +5.9%JEPQ +6.0%SPIN +6.1%NBOS +6.5%SPUT +6.5%RYLG +7.1%GPIX +7.9%FTQI +8.0%DOGG +8.2%ISPY +8.4%QYLD +8.4%DIVO +8.9%MDST +9.3%VEGA +9.4%BALI +9.5%GPIQ +9.8%SLJY +11.0%RDVI +11.7%TDVI +11.7%IQQQ +12.3%SEPI +13.8%XLEI +13.8%SIXH +14.1%ITWO +14.3%EIPI +14.6%JOYT +16.1%IDVO +16.4%DUBS +18.9%WEEI +18.9%IDUB +19.0%TYLG +21.2%NDIV +22.9%CHPY +24.9%SOXY +68.6%FEPI −8.5%FEPI −8.5%−75.0%+68.6%

30.1% of the 161 sit at or below FEPI on this measure.

Weighted evenly, those two positions are what the score combines, across the 161 income ETFs writing on an index or proxy. Neither spread above is the score: a fund can sit further right on one and score lower. A position in this set, not a rating: it moves when the set moves, and it is not a figure to average against another desk's.

What the score is computed from
What it measuresThis fundIts percentileWeight
against its benchmark−5.8 pts45.750%
what happened to the principal−8.5%30.150%

All income ETFs ranked by this score · How it is computed

34th of 354 income ETFs by net assets

What a holder got

FEPI against QQQFEPI returned +17.1% with distributions reinvested against +23.0% for Nasdaq-100 (QQQ), used as the innovation proxy, a gap of −5.8 pts. Of that, 23.4% arrived as cash rather than price.+17.1%FEPI total return+23.0%Nasdaq-100 (QQQ), used as the innovation proxy23.4% of it arrived as cash

Over the year to Sep 11, 2026, FEPI returned +17.1% with distributions reinvested and Nasdaq-100 (QQQ), used as the innovation proxy returned +23.0%, so a holder came out behind it by 5.8 points. The lighter segment is the 23.4% that arrived as cash rather than as price.

Its ten largest equity positions

FEPI top ten by weight, 71.8% of its 16 equity positions, from the holdings filed for Apr 30, 2026. The options the fund writes are not positions of this kind and are not listed. Source: the fund’s SEC filing.
HoldingWeight
ADVANCED MICRO DEVICES, INC.9.98%
MICRON TECHNOLOGY, INC.8.91%
ALPHABET INC.8.83%
BROADCOM INC.8.05%
NVIDIA CORPORATION7.76%
TESLA, INC.7.47%
INTEL CORPORATION5.24%
AMAZON.COM, INC.5.21%
MICROSOFT CORPORATION5.19%
PALANTIR TECHNOLOGIES INC.5.17%

Method

Period by period

FEPI over each window to Sep 11, 2026. Every figure is an ETFIQ calculation. Source: ETFIQ.
WindowCash paidPriceTotal returnQQQAhead or behind
3 months6.1%−2.2%+4.2%−0.8%+5.0 pts
6 months12.1%+1.6%+14.6%+20.7%−6.1 pts
1 year23.4%−8.5%+17.1%+23.0%−5.8 pts
Since launch66.4%−17.8%+67.5%+95.6%−28.2 pts

Method

When FEPI pays

FEPI pays weekly. The last distribution was $0.2063 a share, which went ex on Sep 9, 2026, with payment about 1 day later. The next has not been declared. On its own cadence of about 7 days the ex-date falls near Sep 16, 2026; that date is an ETFIQ projection, not the issuer’s.

Expected distributions for FEPI. Where the basis is a projection, ETFIQ has carried the fund’s own spacing forward from its last ex-date and held the amount at the last one paid; neither is an issuer statement. Source: ETFIQ.
Ex-datePay dateAmountBasis
Sep 16, 2026Sep 17, 2026$0.2063ETFIQ projection from the fund’s own cadence
Sep 23, 2026Sep 24, 2026$0.2063ETFIQ projection from the fund’s own cadence
Sep 30, 2026Oct 1, 2026$0.2063ETFIQ projection from the fund’s own cadence
Oct 7, 2026Oct 8, 2026$0.2063ETFIQ projection from the fund’s own cadence
Oct 14, 2026Oct 15, 2026$0.2063ETFIQ projection from the fund’s own cadence
Oct 21, 2026Oct 22, 2026$0.2063ETFIQ projection from the fund’s own cadence
Every distribution ETFIQ holds for FEPI (13, most recent first)
Cash distributions per share for FEPI. Source: ETFIQ from Tiingo end-of-day distributions.
Ex-dateAmount
Sep 9, 2026$0.2063
Sep 2, 2026$0.2052
Aug 26, 2026$0.2
Aug 19, 2026$0.2047
Aug 12, 2026$0.2029
Aug 5, 2026$0.1954
Jul 29, 2026$0.192
Jul 22, 2026$0.1978
Jul 15, 2026$0.2033
Jul 8, 2026$0.2064
Jul 1, 2026$0.2089
Jun 24, 2026$0.2054
Jun 17, 2026$0.2129

Every income ETF going ex-dividend in the next fortnight

Method

In plain words

Since it launched on Oct 11, 2023, FEPI has returned +67.5% with distributions reinvested, against +95.6% for Nasdaq-100 (QQQ), used as the innovation proxy, and has paid out 66.4% of its starting value in cash along the way. It pays weekly, and at its current price the latest distribution annualizes to 25.2%. No Rule 19a-1 notice has been published for this fund, so there is no issuer estimate of how much of its distributions was a return of capital.

FEPI (REX FANG & Innovation Equity Premium Income ETF), income ETFs fields as of Sep 11, 2026. Source: ETFIQ.
Strategycovered call
BenchmarkNasdaq-100 (QQQ), used as the innovation proxy (proxy)
Paysweekly
Net assets (issuer page, as of Sep 10, 2026)$700m
Latest payout, annualized (ETFIQ)25.2%
Expense ratio (485BPOS XBRL, Nov 26, 2025)0.65%
Cash paid, last 12 months, over today’s price (ETFIQ)25.6%
LaunchedOct 11, 2023
Paysweekly
Typical gap between ex-dates7 days
Typical wait from ex-date to payment1 day
Last paid, per share$0.2063 ex Sep 9, 2026
Sum of the last 12 distributions$2.4283

Every figure is an ETFIQ calculation from exchange prices and cash distributions (Tiingo end-of-day), total return with distributions reinvested. Return of capital is the issuer’s estimate. How these figures are computed

Questions people ask

How much has FEPI paid over the last year?
Over the year to Sep 11, 2026, FEPI paid 23.4% of its starting price in cash distributions, while the price fell 8.5%.
Is FEPI ahead of QQQ?
Over the year to Sep 11, 2026, with every distribution reinvested, FEPI returned +17.1% against +23.0% for Nasdaq-100 (QQQ), used as the innovation proxy, so a holder was behind it by 5.8 points.
How often does FEPI pay, and how much?
FEPI pays weekly. The latest distribution annualizes to 25.2% at its price on Sep 11, 2026, which is not a promise; the next one can differ.
When does FEPI next pay a distribution?
FEPI pays weekly. The last distribution went ex on Sep 9, 2026 at $0.2063 a share. The next is not declared; on a cadence of about 7 days the ex-date falls near Sep 16, 2026, which is an ETFIQ projection. Payment usually follows the ex-date by 1 day.
What does FEPI cost?
The prospectus expense ratio is 0.65% a year.

The words on this page

Total return
What a holder actually ended up with: price change plus every distribution, reinvested. The only figure that answers whether you came out ahead.
Cash paid
Distributions over the window as a share of what the fund cost at the start. A measure of cash delivered, not of return: a fund can pay a great deal and still lose money.
Ahead or behind
The fund’s total return minus the benchmark’s over exactly the same days, in percentage points. Both sides reinvest.
Return of capital
The issuer’s own estimate, in a Rule 19a-1 notice, of how much of a distribution was your own money returned. An estimate and a tax characterization, not a measure of erosion.
Covered call
Selling call options on shares the fund holds. It collects a premium and gives up the gains above the strike, which is why these funds pay well and lag a rising market.

Every term used here, defined in full on the income ETFs vocabulary page.

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.

Compare FEPI

Also against QYLD, XYLD, RYLD, DIVO, GPIX, GPIQ, TSLY, NVDY, MSTY, CONY, ULTY, YMAX, XDTE, QDTE, AIPI, BALI, ISPY, AMZY, APLY, GOOY, MSFO, OARK, SDTY, IVV, QQQ, SCHD, SPY, VOO, VTI, VYM.

Funds near this one

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FEPI payout bar, ETFIQ

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Where FEPI is written about

FEPI, Income ETFs, ETFIQ, data as of Sep 11, 2026. Every figure is arithmetic on a named public source; the method is at etfiq.com/methodology. ETFIQ is an independent publisher, is not a fund issuer, broker-dealer or investment adviser, and makes no recommendations.
Use this data, or open the live card

Open FEPI live on ETFIQ, where the figures refresh with the data.

Cite this page. ETFIQ, FEPI, income ETFs, data as of Sep 11, 2026. https://etfiq.com/funds/fepi Free to use with attribution; the underlying files are at Open data.

How these figures are computed · Standards and sources