BALI vs. FEPI

Last updated Jun 24, 2026

BALI (Blackrock Advantage Large Cap Income ETF) and FEPI (REX FANG & Innovation Equity Premium Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, BALI returned 22.98% vs 20.65% for FEPI. A 0.80 correlation means they provide meaningful diversification when combined. BALI charges 0.35%/yr vs 0.65%/yr for FEPI.

Performance

BALI vs. FEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackrock Advantage Large Cap Income ETF (BALI) and REX FANG & Innovation Equity Premium Income ETF (FEPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BALI achieves a 8.90% return, which is significantly higher than FEPI's 3.07% return.

BALI

• 1D: -1.07%
• 1M: -1.38%
• YTD: 8.90%
• 6M: 8.29%
• 1Y: 22.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FEPI

• 1D: -2.98%
• 1M: -4.62%
• YTD: 3.07%
• 6M: 2.27%
• 1Y: 20.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BALI vs. FEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BALI Blackrock Advantage Large Cap Income ETF	8.90%	14.51%	22.38%	8.05%
FEPI REX FANG & Innovation Equity Premium Income ETF	3.07%	18.33%	15.69%	11.75%

Correlation

The correlation between BALI and FEPI is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since Oct 11, 2023	0.80

The correlation between BALI and FEPI has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.

BALI vs. FEPI - Sectors Allocation Comparison

Sectors	BALI	FEPI
Technology	35.4%	65.5%
Communication Services	10.1%	19.6%
Consumer Cyclical	9.7%	12.4%
Healthcare	9.5%	-
Financial Services	9.2%	-
Industrials	7.0%	-
Consumer Defensive	5.8%	-
Energy	4.0%	-
Real Estate	2.1%	-
Utilities	2.0%	-
Basic Materials	1.4%	-

Return for Risk

BALI vs. FEPI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BALI

BALI Risk / Return Rank: 74
BALI Sharpe Ratio Rank: 72
BALI Sortino Ratio Rank: 70
BALI Omega Ratio Rank: 73
BALI Calmar Ratio Rank: 71
BALI Martin Ratio Rank: 83

FEPI

FEPI Risk / Return Rank: 33
FEPI Sharpe Ratio Rank: 33
FEPI Sortino Ratio Rank: 31
FEPI Omega Ratio Rank: 33
FEPI Calmar Ratio Rank: 33
FEPI Martin Ratio Rank: 35

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BALI vs. FEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock Advantage Large Cap Income ETF (BALI) and REX FANG & Innovation Equity Premium Income ETF (FEPI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BALI	FEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.21	1.16	+1.04
Sortino ratio: Return per unit of downside risk	3.03	1.62	+1.41
Omega ratio: Gain probability vs. loss probability	1.41	1.22	+0.19
Calmar ratio: Return relative to maximum drawdown	3.44	1.61	+1.83
Martin ratio: Return relative to average drawdown	16.45	5.15	+11.30

BALI vs. FEPI - Sharpe Ratio Comparison

The current BALI Sharpe Ratio is 2.21, which is higher than the FEPI Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of BALI and FEPI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BALI vs. FEPI - Drawdown Comparison

The maximum BALI drawdown since its inception was -16.65%, smaller than the maximum FEPI drawdown of -23.56%. Use the drawdown chart below to compare losses from any high point for BALI and FEPI.

Drawdown Indicators

	BALI	FEPI	Difference
Max Drawdown Largest peak-to-trough decline	-16.65%	-23.56%	+6.91%
Max Drawdown (1Y) Largest decline over 1 year	-6.71%	-12.91%	+6.20%
Current Drawdown Current decline from peak	-2.49%	-8.01%	+5.52%
Average Drawdown Average peak-to-trough decline	-1.63%	-3.53%	+1.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	4.02%	-2.62%

Volatility

BALI vs. FEPI - Volatility Comparison

The current volatility for Blackrock Advantage Large Cap Income ETF (BALI) is 4.07%, while REX FANG & Innovation Equity Premium Income ETF (FEPI) has a volatility of 7.58%. This indicates that BALI experiences smaller price fluctuations and is considered to be less risky than FEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BALI	FEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	7.58%	-3.51%
Volatility (6M) Calculated over the trailing 6-month period	8.30%	14.01%	-5.71%
Volatility (1Y) Calculated over the trailing 1-year period	10.49%	17.84%	-7.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.02%	19.33%	-6.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.02%	19.33%	-6.31%

BALI vs. FEPI - Expense Ratio Comparison

BALI has a 0.35% expense ratio, which is lower than FEPI's 0.65% expense ratio.

Dividends

BALI vs. FEPI - Dividend Comparison

BALI's dividend yield for the trailing twelve months is around 7.83%, less than FEPI's 26.88% yield.

Position	TTM	2025	2024	2023
BALI Blackrock Advantage Large Cap Income ETF	7.83%	8.51%	7.13%	2.13%
FEPI REX FANG & Innovation Equity Premium Income ETF	26.88%	25.48%	27.18%	4.21%

Frequently Asked Questions

Can I hold both BALI and FEPI in my portfolio?

BALI and FEPI have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BALI or FEPI?

FEPI has higher volatility (7.58%) compared to BALI (4.07%). In terms of maximum drawdown, BALI dropped -16.65% vs FEPI's -23.56%.

Which ETF is better, BALI or FEPI?

On 1-year performance, BALI leads with 22.98% vs 20.65% for FEPI. On fees, BALI is cheaper at 0.35% per year. On volatility, BALI has been the lower-risk option at 4.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BALI or FEPI?

Over the 1-year period, BALI has performed better with a 22.98% return vs 20.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BALI or FEPI?

BALI is cheaper with a 0.35% expense ratio, compared with 0.65% for FEPI.

Which ETF pays a higher dividend yield, BALI or FEPI?

FEPI has the higher dividend yield at 26.88%, compared with 7.83% for BALI.

What is the main difference between BALI and FEPI?

They also come from different issuers: BlackRock and REX. Their fees differ too: 0.35% for BALI and 0.65% for FEPI.

Which has better risk-adjusted returns?

BALI currently has the higher Sharpe Ratio (2.21 vs 1.16), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.