REX FANG & Innovation Equity Premium Income ETF (FEPI) Performance
FEPI total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +6.8% since Dec 31, 2025
- 1 year
- +8.1% total return
- 3 years
- +18.9% a year
- Since first price
- +17.5% a year since 2023
FEPI trailing returns vs SPY, QQQ, AGG
| Period | FEPI total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −5.0% | −6.8% | −1.0% | −5.0% | +0.9% |
| 3 months | +6.0% | −0.5% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.5% | −5.2% | +7.8% | +8.4% | −1.5% |
| YTD | +6.8% | −11.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +8.1% | −16.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +68.0%+18.9%/yr | −20.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionOct 11, 2023 | +63.3%+17.5%/yr | −22.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FEPI vs SPY
From Oct 11, 2023: FEPI grew to $16,330, SPY to $18,061.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FEPI returns by calendar year
2 of 2 full years positive. Best 2025 (+18.3%), worst 2024 (+15.7%). 2026 is year to date.
FEPI annual returns table
| Year | FEPI | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +6.8% | −15.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +18.3% | −23.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +15.7% | −14.2% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FEPI largest drawdowns
Now 7.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 6, 2024 | −23.6% | Apr 8, 2025 | Jun 30, 2025 | 4 months | 7 months |
| May 29, 2026 | −15.0% | Jul 29, 2026 | Sep 21, 2026 | 2 months | 4 months |
| Jul 10, 2024 | −14.2% | Aug 5, 2024 | Nov 6, 2024 | 26 days | 4 months |
| Oct 29, 2025 | −12.9% | Mar 30, 2026 | Apr 24, 2026 | 5 months | 6 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FEPI risk statistics
| Statistic | Since 2023 |
|---|---|
| Annualized return | +21.8% |
| Volatility (annualized) | 16.4% |
| Sharpe ratio | 1.03 |
| Sortino ratio | 1.92 |
| Best month | +10.9% |
| Worst month | −6.0% |
| Best 12 months | +37.2% |
| Worst 12 months | −3.3% |
| Positive months | 69% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FEPI rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 25 | −3.3% | +15.7% | +37.2% | 96% |
| 3-year (a year) | 1 | +19.1% | +19.1% | +19.1% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
FEPI performance overview
REX FANG & Innovation Equity Premium Income ETF (FEPI) returned +8.1% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +17.5% a year, turning $10,000 into about $16,330. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −23.6%, from Dec 6, 2024 to Apr 8, 2025, and it took 3 months to get back to the old high. Volatility has been 16.4% a year.
Related: FEPI chart, FEPI holdings, FEPI dividends, FEPI valuation. See the FEPI overview for the latest quote and fund facts.
FEPI performance FAQ
What is the FEPI return over the past year?
FEPI returned +8.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 16.2%.
How much would $10,000 invested in FEPI be worth?
$10,000 invested in FEPI at its first recorded close on October 11, 2023 would be worth about $16,330 on October 23, 2026 with distributions reinvested.
What was the worst year for FEPI?
The worst calendar year was 2024, with a total return of +15.7%. The best was 2025 at +18.3%.
What is the biggest drawdown of FEPI?
The largest peak-to-trough decline was −23.6% between December 6, 2024 and April 8, 2025. It recovered to the old high on June 30, 2025, 3 months after the bottom.
How volatile is FEPI?
Over the past history FEPI had an annualized volatility of 16.4% and a Sharpe ratio of 1.03 (excess return over 1–3 month T-bills per unit of risk).