FEPI
REX FANG & Innovation Equity Premium Income ETF
weekly DividendsFEPI Quick Stats
FEPI Distribution History Trend
FEPI has paid 36 weekly distributions on record since inception (2023-10-09). The average distribution over the trailing 12 periods is $0.20 per share. The highest distribution was $0.21 (week of 2026-06-10) and the lowest was $0.19 (week of 2026-07-29). Distribution variance of $0.02 reflects how sensitive the option premium on REX FANG & Innovation Equity Premium Income's underlying exposure is to market volatility — richer weeks follow volatility spikes, thinner weeks follow calm markets.
Fund Overview
FEPI — REX FANG & Innovation Equity Premium Income ETF — is a weekly-distribution ETF issued by REX Shares that generates income by selling call options against REX exposure. The fund targets investors seeking high-frequency cash flow from REX exposure without holding the underlying directly. Distributions are paid weekly, with the ex-dividend date typically falling on a Wednesday. The current annualized yield of 25.17% is calculated from the most recent weekly distribution of $0.2026 per share divided by the current share price of $41.84 and multiplied by 52. As with all option-income funds, the distribution rate reflects current implied volatility in REX options — when volatility falls, distributions typically shrink. The fund has $683.6 million in assets under management and has returned -7.47% on a price basis year-to-date, excluding distributions.
Compared to similar REX Shares funds, FEPI ranks 7 out of 7 by current yield and 2 out of 7 by year-to-date price performance.
Annual Yield Calculations
Both figures start from the same per-period rate: the average of the last 3 distributions ($0.20) divided by the current price ($41.84) = 0.484% per week. The non-DRIP yield annualizes it simply; the DRIP yield compounds it over 52 periods.
WeeklyYield™ Actual Performance
How YTD & performance are calculated: YTD returns shown across WeeklyYield are price-only, using split-adjusted close-to-close prices from the first trading day of the calendar year to the latest close — the same method your brokerage uses. Dividends are tracked separately in the yield figures above. "Actual Non-DRIP" and "Actual DRIP" add distributions back in to show total return since the earliest price we have on record (2025-09-02 at $44.62), using the same 22 distributions in both — non-DRIP collects them as cash, DRIP buys shares at each ex-date close. See full methodology →
Top Performer Score
Price History (1 Year)
About This ETF
The REX FANG & Innovation Equity Premium Income ETF (FEPI) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is actively managed, seeking to provide similar returns as the Solactive FANG Innovation Index and monthly income. The fund invests in the securities comprising the index while writing call options on them. FEPI was launched on Oct 9, 2023 and is issued by REX Shares.
How FEPI Generates Income
FEPI generates weekly income by selling call options on REX or a synthetic equivalent. When the fund sells a call option, it collects a premium from the buyer — this premium is what funds the weekly distribution. The tradeoff is that the fund caps its upside: if REX rallies sharply above the strike price, the fund does not fully participate in that gain. In a flat or declining market the income generation continues while the fund absorbs price losses similar to holding the underlying. The size of the weekly distribution directly reflects implied volatility in REX options at the time the options were written — higher volatility means more expensive options and larger distributions, lower volatility means smaller ones. This makes the distribution variable week to week rather than fixed.
Distribution Composition and Tax Considerations
Not all of FEPI's weekly distributions represent taxable income. Option-income funds frequently classify part of each distribution as return of capital (ROC), which is not taxable in the year received but reduces your cost basis in the fund. When your cost basis reaches zero, subsequent ROC distributions become taxable as capital gains. The exact composition of each distribution — ordinary income, qualified dividends, short-term capital gains, long-term capital gains, and return of capital — is reported annually on Form 1099-DIV and may not be known until after the tax year ends. Holding FEPI in a tax-advantaged account (IRA, Roth IRA, 401k) eliminates the annual tax complexity entirely and is the approach most income-focused investors use for high-distribution funds.
Educational information only — not tax advice. See our after-tax dividend calculator to model your own situation.
Dividend History
| Ex-Dividend Date | Cash Amount | Pay Date |
|---|---|---|
| 2026-08-26 | $0.20001 | 2026-08-27 |
| 2026-08-19 | $0.20472 | 2026-08-20 |
| 2026-08-12 | $0.20292 | 2026-08-13 |
| 2026-08-05 | $0.19536 | 2026-08-06 |
| 2026-07-29 | $0.19196 | 2026-07-30 |
| 2026-07-22 | $0.19783 | 2026-07-23 |
| 2026-07-15 | $0.20331 | 2026-07-16 |
| 2026-07-08 | $0.20637 | 2026-07-09 |
| 2026-07-01 | $0.20894 | 2026-07-02 |
| 2026-06-24 | $0.20540 | 2026-06-25 |
| 2026-06-17 | $0.21292 | 2026-06-18 |
| 2026-06-10 | $0.21330 | 2026-06-11 |
FEPI has paid 12 weekly distributions over the past 12 weeks. The average weekly distribution over this period was $0.2036 per share. The highest distribution in the trailing 12 weeks was $0.2133 (ex-date 2026-06-10) and the lowest was $0.1920 (ex-date 2026-07-29). Distribution consistency — the variance between the highest and lowest payment — is one indicator of underlying volatility stability. High variance suggests the fund's income generation is sensitive to volatility swings in REX options.
FEPI News
- Netflix Flexes 'M&A Muscle' As Bidding Contests Spook Wall Streetbenzinga · 6/16/2026
- What's Going On With Palantir On Thursday?benzinga · 5/7/2026
- What Is Going On With AMD Stock On Friday?benzinga · 5/1/2026
- AMD's New Move For AI PC Market: Agent Computersbenzinga · 4/29/2026
- What Is Going On With AMD Stock On Tuesday?benzinga · 4/28/2026
- AMD Eyes New Highs As Meta, OpenAI Fuel Massive 2026 Chip Surgebenzinga · 4/17/2026
- Intel Spends $14 Billion To Reclaim Full Control Of Key Ireland 'AI Chip' Factorybenzinga · 4/1/2026
- REX Financial Unveils NVDA-Centric ETF, NVII, Balancing Growth And Incomebenzinga · 5/29/2025
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Frequently Asked Questions About FEPI
FEPI pays weekly dividends. Its most recent ex-dividend date was 2026-08-26 with a pay date of 2026-08-27.
FEPI has paid an average of $0.2026 per share across its most recent 3 distributions. Its latest distribution was $0.2000 per share.
FEPI's current annualized yield is 25.17%. This is calculated as the average of its last 3 distributions ($0.2026) divided by the current share price of $41.84, annualized over 52 periods. Reinvesting those distributions (DRIP) compounds the same rate: (1 + rate)^52 − 1.
Covered call and option-income ETF distributions vary week to week. FEPI's actual total return figures on the fund's WeeklyYield page show total return net of NAV changes; high distribution rates can coincide with NAV decline, so investors should compare yield to actual total return before drawing conclusions. This is educational information, not investment advice.
Option-income ETF distributions are generally treated as ordinary income or return of capital, depending on the fund's structure and the underlying options strategy. For FEPI's exact tax character, refer to the fund issuer's 19a-1 notices and year-end 1099-DIV. This is not tax advice.
More detail on how these numbers are calculated is on our methodology page.