FEPI: A Battle-Tested 25% Yielder To Buy

REX FANG & Innovation Equity Premium Income ETF offers high income via covered calls but has underperformed QQQ and SPY YTD, returning only ~1%. FEPI's concentrated, high-beta AI and tech holdings have amplified downside risk, while its structure caps upside, limiting gains from surging names like INTC. Dividend payments, though initially attractive (~25% yield), have declined as underlying holdings fell, revealing that principal performance outweighs volatility for income stability.