FEPI
Caution
High confidence
ETF Comparison
FEPI vs YMAG: Which Is the Better Pick in 2026?
A head-to-head comparison of REX FANG Covered Call ETF and YieldMax Magnificent 7 Fund of Option Income ETF covering yield, cost, risk, and income potential.
Updated November 6, 2026
How these figures are calculated: methodology.
Best for
- FEPIInvestors who are comfortable trading away most upside for a large, steady payout.
- YMAGInvestors who want to maximize current income — roughly 32.75%, generated by selling options premium.
Price and total return
Compare the same available dates. Add a ticker or benchmark below; these controls change the chart only. The snapshot and article describe the original comparison.
Interactive history loads here. The snapshot and period returns remain available when chart history cannot be loaded.
Distribution Safety Score
An estimate of distribution reliability, not price or principal safety, a probability, or a guarantee. Score methodology.
YMAG
High risk
High confidence
Score snapshot as of . Method 1.11.
Side-by-side snapshot
| Metric |  FEPI |  YMAG |
|---|---|---|
| Full name | REX FANG Covered Call ETF | YieldMax Magnificent 7 Fund of Option Income ETF |
| Issuer | REX Shares | YieldMax |
| Underlying index | Actively managed (no tracked index recorded) | Basket (Magnificent 7 Stocks) |
| Last Close | $35.92 as of November 6, 2026 | $10.32 as of November 6, 2026 |
| Distribution rate | 26.54% | 32.75% |
| Trailing 12-month yield | 29.17% | 48.13% |
| 30-day SEC yield | -0.33% | 59.29% |
| Distribution Safety Score™ | 44 | 16 |
| Safety-Adjusted Yield | 11.68% | 5.24% |
| Expense ratio | 0.65% | 1.34% |
| AUM | $677M | $268M |
| Distribution frequency | Weekly | Weekly |
| Objective | Targets income by selling covered calls on an actively managed basket of FANG and innovation focused equities while maintaining growth exposure. | Fund of funds that seeks weekly income by investing nearly all of its assets in seven underlying YieldMax option income ETFs tied to the Magnificent 7 stocks. |
| Asset class | Equity | Equity |
| Inception date | 10/11/2023 | 01/29/2024 |
| Beta | 1.08 | 1.1624 |
| Last dividend | $0.1833 | $0.065 |
| Ex-dividend date | 11/04/2026 | 11/04/2026 |
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
FEPI has lagged YMAG over the trailing twelve months, posting a -5.99% total return against 0.30%. Measured from Jan 2024 — the start of shared available history — YMAG has compounded at 19.10% a year versus 8.65% for FEPI. Figures are total returns: price change plus every distribution reinvested.
| Symbol | YTD cumulative | 1Y cumulative | Since Jan 2024 | Volatility | Sharpe | Sortino | Max drawdown |
|---|---|---|---|---|---|---|---|
| FEPI | -5.27% | -5.99% | 8.65% | 22.4% | -0.46 | -0.59 | -17.5% |
| YMAG | 0.45% | 0.30% | 19.10% | 18.8% | -0.20 | -0.27 | -13.6% |
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of November 5, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Jan 2024” measures every fund from January 30, 2024 — the start of shared available history — 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.
Distribution rate, SEC yield and return of capital
| Metric | FEPI | YMAG |
|---|---|---|
| Forward distribution rate | 26.54% | 32.75% |
| Trailing 12-month yield | 29.17% | 48.13% |
| 30-day SEC yield | -0.33% | 59.29% |
| Return of capital | 100.00% | 11.24% |
Total return (price change plus reinvested distributions) is the Total returns section above. Return of capital is the share of a recent distribution that was not income. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
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 32.75%, generated by selling options premium. FEPI and YMAG both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped price exposure.
How the risk works
Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.
- Capped upside and premium dependence. FEPI and YMAG generate income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.
Learn the mechanics: Return of capital, explained · NAV erosion, explained
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
ETFs75
Total AUM$14.6B
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
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.
ETFs63
Total AUM$9.06B
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. 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.
Quick verdict
FEPI (REX FANG Covered Call ETF) and YMAG (YieldMax Magnificent 7 Fund of Option Income ETF) are both weekly-pay dividend ETFs, but they take different approaches.
YMAG offers the higher yield at 32.75% vs 26.54% 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 1.34%.
They have different reference exposures: FEPI is linked to Basket (FANG & innovation equities) while YMAG is linked to Basket (Magnificent 7 Stocks), which means their performance drivers differ.
FEPI is the larger fund by assets ($677M), but assets alone do not establish trading costs or liquidity.
Who should choose each?
Choose FEPI
REX FANG Covered Call 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 1.34% for YMAG.
Choose YMAG
YieldMax Magnificent 7 Fund of Option Income ETF
- Want to maximize current income — YMAG distributes roughly 32.75% from selling options premium, vs 26.54% 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.
Top-holdings overlap
Positions that appear in every fund's top 10. Issuers disclose only the largest weights, so this captures the overlap of the concentrated end of each book — not the full portfolios.
0 shared positions
FEPI 0.0% of its top-10 weight
YMAG 0.0% of its top-10 weight
No overlap among the top-10 disclosed holdings of FEPI, YMAG. These funds draw from largely different positions at the top of their books.
Deep dive
Yield & income
On a $10,000 investment at current distribution rates, FEPI would pay about $2,654.00 a year (about $51.04 per weekly distribution), while YMAG would pay about $3,275.00 a year (about $62.98 per weekly distribution). Both pay weekly distributions.
FEPI yield26.54%
YMAG yield32.75%
Annual cash diff on $10K$621.00
Cost & efficiency
Over 10 years on $10,000, FEPI would cost approximately $650 in fees vs $1,340 for YMAG (simplified, not compounded). The $690.00 difference may be offset by yield or performance.
FEPI ER0.65%
YMAG ER1.34%
Strategy & risk
FEPI is actively managed around Basket (FANG & innovation equities) exposure with a covered call approach, while YMAG tracks Basket (Magnificent 7 Stocks) with a covered call approach. Beta is 1.08 for FEPI and 1.1624 for YMAG, making FEPI the less sensitive to market moves of the two by this measure.
FEPI beta1.08
YMAG beta1.1624
Fund details
FEPI is managed by REX Shares (launched 10/11/2023) with $677M in assets. YMAG is managed by YieldMax (launched 01/29/2024) with $268M in assets.
FEPI AUM$677M
YMAG AUM$268M
Frequently asked questions
What is the current distribution rate for FEPI and YMAG?
FEPI currently distributes 26.54% and YMAG 32.75%, based on fund data updated November 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
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 Covered Call ETF) is actively managed around Basket (FANG & innovation equities) exposure with a covered call approach, while YMAG (YieldMax Magnificent 7 Fund of Option Income ETF) 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. Their disclosed top-10 holdings share no positions, so combining both spreads your money across different underlying names — see the holdings-overlap section above for the details. Overlap outside the disclosed top 10 can still exist.
Is FEPI or YMAG safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — FEPI scores 44, YMAG scores 16, so FEPI's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.
Which has lower fees, FEPI or YMAG?
FEPI has an expense ratio of 0.65% while YMAG charges 1.34%. 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 distribution rates, $10,000 in FEPI would pay about $2,654.00 a year (about $51.04 per weekly distribution). $10,000 in YMAG would pay about $3,275.00 a year (about $62.98 per weekly distribution).
Which has performed better historically, FEPI or YMAG?
FEPI has lagged YMAG over the trailing twelve months, posting a -5.99% total return against 0.30%. Measured from Jan 2024 — the start of shared available history — YMAG has compounded at 19.10% a year versus 8.65% for FEPI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
More comparisons to explore
People also compare FEPI with
People also compare YMAG with
Popular comparisons
Dividend dates and history
Learn the method
The metrics behind this comparison, explained in the Academy.
These comparisons follow the Dividend Vision methodology.