Rankings / FEPI
REX FANG & Innovation Equity Premium Income ETF
5.8
Overall Score
FEPI holds the 15 stocks of the equal-weighted FANG & Innovation Index, rebalanced monthly. REX writes covered calls on individual stocks and invests the premium in money market instruments. Since May 2026 the fund pays weekly instead of monthly. REX states that current distributions are 100% estimated return of capital.
The fund holds 15 equally weighted stocks from the Solactive FANG Innovation Index and writes covered calls on each individual position. The premium collected from the option sales is distributed monthly. The strategy does not hedge market declines: down-capture has exceeded up-capture since inception.
Pays a 24.7% TTM yield, but captured 114% of QQQ's down months and trails QQQ by 37 points since 2023.
Cumulative total return of FEPI against QQQ, distributions reinvested.
Cumulative total return, rebased to 0% at the start of each period. Distributions reinvested. Data through end of previous month.
Calendar-year total return, distributions reinvested.
| Year | FEPI | QQQ |
|---|---|---|
| 2026 YTD | +12.21% | +20.83% |
| 2025 | +18.26% | +20.77% |
| 2024 | +15.50% | +25.58% |
| 2023 * | +15.68% | +17.01% |
Historical years are frozen. YTD is refreshed monthly. * Partial year: return from fund inception to December 31.
Composite score from six weighted criteria, measured since inception.
Performance since inception against the benchmark.
How much of the benchmark drawdown the fund absorbed.
How much of the benchmark rally the fund kept.
Frequency of distribution cuts below 85% of the previous payment.
Inversely proportional to the annual management fee.
Assets under management on a log scale.
Sector and geographic composition of FEPI underlying holdings.
| # | Symbol | Name | Weight |
|---|---|---|---|
| 1 | AMD | ADVANCED MICRO DEVICES INC | 8.13% |
| 2 | MU | MICRON TECHNOLOGY INC | 7.50% |
| 3 | INTC | INTEL CORP | 7.38% |
| 4 | NVDA | NVIDIA CORP | 7.13% |
| 5 | SNDK | SANDISK CORP/DE SNDKV | 7.09% |
| 6 | PLTR | PALANTIR TECHNOLOGIES INC. CLASS A | 7.06% |
| 7 | AVGO | Broadcom | 7.06% |
| 8 | META | META PLATFORMS INC | 6.85% |
| 9 | MSFT | MICROSOFT CORP | 6.76% |
| 10 | TSLA | Tesla | 6.72% |
Holdings data from fund disclosures, updated periodically. Percentages may not sum to 100% due to cash, options, and other positions not shown.
The same six criteria, applied to different trailing periods. Pro subscribers see the full breakdown.
Since inception
5.8
3 years
5.8
1 year
5.4
3 months
7.3
How has FEPI ranked across inception, 3 years, 1 year, and 3 months? Pro subscribers can compare a fund's trajectory over every window, across all 28 funds.
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Expense Ratio
0.650%
Inception Date
October 1, 2023
Benchmark
QQQ
Category
Covered Call - Nasdaq 100
Distribution Frequency
Weekly
Maturity Rating
3/5 stars
Scores calculated using CoveredRank methodology. Every formula is published and reproducible.
See full methodology→Disclaimer: CoveredRank provides independent educational content only. This is not financial advice. Please consult with a qualified financial advisor before making investment decisions. Past performance does not guarantee future results.