A head-to-head comparison of REX FANG & Innovation Equity Premium Income ETF and Tidal Trust II - YieldMax Magnificent 7 Fund of Option Income ETFs covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
REX Shares is known for specializing in options-based and thematic ETF strategies, offering 23 funds organized across distinct families including Covered Call, IncomeMax Option Strategy, and MicroSectors products. The fund lineup emphasizes income generation through option strategies and sector-specific exposure, with holdings spanning technology, commodities, and alternative assets. REX Shares targets investors seeking non-traditional income approaches and concentrated sector bets, positioning itself in a niche segment focused on structured strategies rather than broad market indexing.
See our curated list of related YouTube videos on FEPI.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
YieldMax is known for specializing in options-based and income-focused ETFs that emphasize yield generation through covered call strategies and other income-producing methodologies. The firm operates a diverse lineup of 63 funds organized across multiple families including covered call strategies, 0DTE (zero days to expiration) options, double distribution approaches, and various target-date and performance-based portfolios designed to generate regular distributions. Notable offerings span popular underlying assets like major technology stocks and broad market indices, with a particular emphasis on providing enhanced income solutions for investors seeking regular cash flows through options strategies and other tactical approaches.
See our curated list of related YouTube videos on YMAG.
Tidal Trust II - YieldMax Magnificent 7 Fund of Option Income ETFs
Issuer
REX Shares
YieldMax
Last Close
$42.68 as of July 13, 2026
$11.81 as of July 13, 2026
Distribution yield
25.10%
33.46%
Distribution Safety Score
83
67
Expense ratio
0.65%
1.28%
AUM
$682M
$310M
Distribution frequency
Weekly
Weekly
Underlying index
Basket (FANG & innovation equities)
Basket (Magnificent 7 Stocks)
Objective
Targets income by selling covered calls on an actively managed basket of FANG and innovation
focused equities while maintaining growth exposure.
Covered Call
Asset class
Equity
Equity
Inception date
10/11/2023
01/29/2024
Beta
1.1684
1.1624
Last dividend
$0.2060
$0.0760
Ex-dividend date
07/08/2026
07/08/2026
Bottom lineChoose FEPI if you are comfortable trading away most upside for a large, steady payout. Choose YMAG if you want to maximize current income — roughly 33.46%, generated by selling options premium. There's no free lunch: YMAG's payout comes from selling options, which caps upside and can erode the share price over time, while FEPI keeps full price exposure.
Most used
Income calculator
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
FEPI has outpaced YMAG over the trailing twelve months, posting a 16.13% total return against 15.78%. Measured from Jan 2024 — when the younger fund began trading — YMAG has compounded at 21.04% a year versus 13.68% for FEPI. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 10, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Jan 2024” measures every fund from January 30, 2024 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
FEPI (REX FANG & Innovation Equity Premium Income ETF) and YMAG (Tidal Trust II - YieldMax Magnificent 7 Fund of Option Income ETFs) are both weekly-pay dividend ETFs, but they take different approaches.
YMAG offers the higher yield at 33.46% vs 25.10% for FEPI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
FEPI is cheaper with an expense ratio of 0.65% compared to 1.28%.
They track different benchmarks: FEPI is linked to Basket (FANG & innovation equities) while YMAG tracks Basket (Magnificent 7 Stocks), which means their performance drivers differ.
FEPI is the larger fund by assets ($682M), which generally means tighter spreads and better liquidity.
Who should choose each?
Choose FEPI
REX FANG & Innovation Equity Premium Income ETF
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Want to keep costs low — a 0.65% expense ratio vs 1.28% for YMAG.
Choose YMAG
Tidal Trust II - YieldMax Magnificent 7 Fund of Option Income ETFs
Want to maximize current income — YMAG distributes roughly 33.46% from selling options premium, vs 25.10% for FEPI.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Deep dive
Yield & income
On a $10,000 investment, FEPI would generate roughly $209.17/month, while YMAG would produce $278.83/month, at current distribution rates. Both pay weekly distributions.
FEPI yield25.10%
YMAG yield33.46%
Monthly diff on $10K$69.67
Cost & efficiency
Over 10 years on $10,000, FEPI would cost approximately $650 in fees vs $1,280 for YMAG (simplified, not compounded). The $630.00 difference may be offset by yield or performance.
FEPI ER0.65%
YMAG ER1.28%
Strategy & risk
FEPI tracks Basket (FANG & innovation equities) with a covered call approach, while YMAG tracks Basket (Magnificent 7 Stocks) with a covered call approach. Beta is 1.1684 for FEPI and 1.1624 for YMAG, indicating YMAG is less volatile relative to the market.
FEPI beta1.1684
YMAG beta1.1624
Fund details
FEPI is managed by REX Shares (launched 10/11/2023) with $682M in assets. YMAG is managed by YieldMax (launched 01/29/2024) with $310M in assets.
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Frequently asked questions
Is FEPI or YMAG better for dividend income?
It depends on your goals. YMAG currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between FEPI and YMAG?
FEPI (REX FANG & Innovation Equity Premium Income ETF) tracks Basket (FANG & innovation equities) with a covered call approach, while YMAG (Tidal Trust II - YieldMax Magnificent 7 Fund of Option Income ETFs) tracks Basket (Magnificent 7 Stocks) with a covered call approach. They are issued by REX Shares and YieldMax respectively.
Can I hold both FEPI and YMAG?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, FEPI or YMAG?
FEPI has an expense ratio of 0.65% while YMAG charges 1.28%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in FEPI vs YMAG generate?
At current rates, $10,000 in FEPI would generate roughly $209.17 per month ($2,510.00 annually). The same in YMAG would produce about $278.83 per month ($3,346.00 annually).
Which has performed better historically, FEPI or YMAG?
FEPI has outpaced YMAG over the trailing twelve months, posting a 16.13% total return against 15.78%. Measured from Jan 2024 — when the younger fund began trading — YMAG has compounded at 21.04% a year versus 13.68% for FEPI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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