BERZ vs. FEPI

Last updated Jun 4, 2026

BERZ (MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN) and FEPI (REX FANG & Innovation Equity Premium Income ETF) are both exchange-traded funds - BERZ is a Inverse Equities fund tracking the Solactive FANG Innovation Index, while FEPI is a Technology Equities fund actively managed by REX. BERZ is passively managed, while FEPI is actively managed. Over the past year, BERZ returned -86.22% vs 33.15% for FEPI. At a correlation of -0.94, they often move in opposite directions. BERZ charges 0.95%/yr vs 0.65%/yr for FEPI.

Performance

BERZ vs. FEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) 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, BERZ achieves a -65.19% return, which is significantly lower than FEPI's 10.42% return.

BERZ

• 1D: 3.73%
• 1M: -37.37%
• YTD: -65.19%
• 6M: -64.50%
• 1Y: -86.22%
• 3Y*: -77.59%
• 5Y*: —
• 10Y*: —

FEPI

• 1D: -0.75%
• 1M: 5.91%
• YTD: 10.42%
• 6M: 11.37%
• 1Y: 33.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BERZ vs. FEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN	-65.19%	-78.81%	-65.95%	-39.54%
FEPI REX FANG & Innovation Equity Premium Income ETF	10.42%	18.33%	15.69%	11.70%

Correlation

The correlation between BERZ and FEPI is -0.92, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.92
Correlation (All Time) Calculated using the full available price history since Oct 12, 2023	-0.94

The correlation between BERZ and FEPI has been stable across timeframes, ranging from -0.94 to -0.92 - a consistent structural relationship.

BERZ vs. FEPI - Sectors Allocation Comparison

Sectors	BERZ	FEPI
Technology	62.3%	62.1%
Communication Services	25.0%	24.9%
Financial Services	13.3%	-
Consumer Cyclical	12.8%	13.0%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

BERZ vs. FEPI — Risk / Return Rank

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

BERZ

BERZ Risk / Return Rank: 0
BERZ Sharpe Ratio Rank: 1
BERZ Sortino Ratio Rank: 0
BERZ Omega Ratio Rank: 0
BERZ Calmar Ratio Rank: 0
BERZ Martin Ratio Rank: 1

FEPI

FEPI Risk / Return Rank: 54
FEPI Sharpe Ratio Rank: 58
FEPI Sortino Ratio Rank: 54
FEPI Omega Ratio Rank: 58
FEPI Calmar Ratio Rank: 51
FEPI Martin Ratio Rank: 51

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.

BERZ vs. FEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) 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.

	BERZ	FEPI	Difference
Sharpe ratio: Return per unit of total volatility	-1.14	2.02	-3.16
Sortino ratio: Return per unit of downside risk	-2.96	2.67	-5.63
Omega ratio: Gain probability vs. loss probability	0.69	1.36	-0.67
Calmar ratio: Return relative to maximum drawdown	-0.99	2.58	-3.57
Martin ratio: Return relative to average drawdown	-1.54	8.66	-10.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BERZ vs. FEPI - Sharpe Ratio Comparison

The current BERZ Sharpe Ratio is -1.14, which is lower than the FEPI Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of BERZ 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.

Sharpe Ratios by Period

	BERZ	FEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.14	2.02	-3.16
Sharpe Ratio (All Time) Calculated using the full available price history	-0.75	1.16	-1.91

Drawdowns

BERZ vs. FEPI - Drawdown Comparison

The maximum BERZ drawdown since its inception was -99.80%, which is greater than FEPI's maximum drawdown of -23.56%. Use the drawdown chart below to compare losses from any high point for BERZ and FEPI.

Drawdown Indicators

	BERZ	FEPI	Difference
Max Drawdown Largest peak-to-trough decline	-99.80%	-23.56%	-76.24%
Max Drawdown (1Y) Largest decline over 1 year	-87.32%	-12.91%	-74.41%
Max Drawdown (3Y) Largest decline over 3 years	-98.97%	—	—
Current Drawdown Current decline from peak	-99.79%	-1.45%	-98.34%
Average Drawdown Average peak-to-trough decline	-71.57%	-3.51%	-68.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	56.07%	3.84%	+52.23%

Volatility

BERZ vs. FEPI - Volatility Comparison

MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) has a higher volatility of 23.63% compared to REX FANG & Innovation Equity Premium Income ETF (FEPI) at 3.31%. This indicates that BERZ's price experiences larger fluctuations and is considered to be riskier than FEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BERZ	FEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.63%	3.31%	+20.32%
Volatility (6M) Calculated over the trailing 6-month period	57.98%	12.58%	+45.40%
Volatility (1Y) Calculated over the trailing 1-year period	75.77%	16.54%	+59.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.20%	19.02%	+73.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.20%	19.02%	+73.18%

BERZ vs. FEPI - Expense Ratio Comparison

BERZ has a 0.95% expense ratio, which is higher than FEPI's 0.65% expense ratio.

Dividends

BERZ vs. FEPI - Dividend Comparison

BERZ has not paid dividends to shareholders, while FEPI's dividend yield for the trailing twelve months is around 23.92%.

Position	TTM	2025	2024	2023
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN	0.00%	0.00%	0.00%	0.00%
FEPI REX FANG & Innovation Equity Premium Income ETF	23.92%	25.48%	27.18%	4.21%

Frequently Asked Questions

Can I hold both BERZ and FEPI in my portfolio?

BERZ and FEPI have a correlation of -0.92, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BERZ or FEPI?

BERZ has higher volatility (23.63%) compared to FEPI (3.31%). In terms of maximum drawdown, BERZ dropped -99.80% vs FEPI's -23.56%.

Which ETF is better, BERZ or FEPI?

On 1-year performance, FEPI leads with 33.15% vs -86.22% for BERZ. On fees, FEPI is cheaper at 0.65% per year. On volatility, FEPI has been the lower-risk option at 3.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BERZ or FEPI?

Over the 1-year period, FEPI has performed better with a 33.15% return vs -86.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BERZ or FEPI?

FEPI is cheaper with a 0.65% expense ratio, compared with 0.95% for BERZ.

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

FEPI has the higher dividend yield at 23.92%, compared with 0.00% for BERZ.

What is the main difference between BERZ and FEPI?

BERZ is categorized as Inverse Equities, while FEPI is Technology Equities. They also come from different issuers: BMO and REX. Their fees differ too: 0.95% for BERZ and 0.65% for FEPI.

Which has better risk-adjusted returns?

FEPI currently has the higher Sharpe Ratio (2.02 vs -1.14), 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.