CLOD vs. FEPI

Last updated Jun 24, 2026

CLOD (Themes Cloud Computing ETF) and FEPI (REX FANG & Innovation Equity Premium Income ETF) are both exchange-traded funds - CLOD is a Technology Equities fund tracking the Solactive Cloud Technology Index, while FEPI is a Derivative Income fund actively managed by REX. CLOD is passively managed, while FEPI is actively managed. Over the past year, CLOD returned -8.67% vs 20.65% for FEPI. A 0.77 correlation means they provide meaningful diversification when combined. CLOD charges 0.35%/yr vs 0.65%/yr for FEPI.

Performance

CLOD vs. FEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Cloud Computing ETF (CLOD) 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, CLOD achieves a -8.39% return, which is significantly lower than FEPI's 3.07% return.

CLOD

• 1D: 0.22%
• 1M: -5.33%
• YTD: -8.39%
• 6M: -9.76%
• 1Y: -8.67%
• 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)

CLOD vs. FEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CLOD Themes Cloud Computing ETF	-8.39%	7.53%	21.03%	0.77%
FEPI REX FANG & Innovation Equity Premium Income ETF	3.07%	18.33%	15.69%	2.33%

Correlation

The correlation between CLOD and FEPI is 0.69, 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	0.69
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023	0.77

The correlation between CLOD and FEPI has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.

CLOD vs. FEPI - Sectors Allocation Comparison

Sectors	CLOD	FEPI
Technology	81.5%	65.5%
Communication Services	8.4%	19.6%
Consumer Cyclical	6.8%	12.4%
Industrials	1.3%	-
Financial Services	0.8%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

CLOD vs. FEPI — Risk / Return Rank

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

CLOD

CLOD Risk / Return Rank: 6
CLOD Sharpe Ratio Rank: 6
CLOD Sortino Ratio Rank: 6
CLOD Omega Ratio Rank: 6
CLOD Calmar Ratio Rank: 6
CLOD Martin Ratio Rank: 6

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.

CLOD vs. FEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Cloud Computing ETF (CLOD) 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.

	CLOD	FEPI	Difference
Sharpe ratio: Return per unit of total volatility	-0.34	1.16	-1.50
Sortino ratio: Return per unit of downside risk	-0.30	1.62	-1.92
Omega ratio: Gain probability vs. loss probability	0.96	1.22	-0.25
Calmar ratio: Return relative to maximum drawdown	-0.28	1.61	-1.88
Martin ratio: Return relative to average drawdown	-0.59	5.15	-5.74

CLOD vs. FEPI - Sharpe Ratio Comparison

The current CLOD Sharpe Ratio is -0.34, which is lower than the FEPI Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of CLOD 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

CLOD vs. FEPI - Drawdown Comparison

The maximum CLOD drawdown since its inception was -31.36%, which is greater than FEPI's maximum drawdown of -23.56%. Use the drawdown chart below to compare losses from any high point for CLOD and FEPI.

Drawdown Indicators

	CLOD	FEPI	Difference
Max Drawdown Largest peak-to-trough decline	-31.36%	-23.56%	-7.80%
Max Drawdown (1Y) Largest decline over 1 year	-31.36%	-12.91%	-18.45%
Current Drawdown Current decline from peak	-17.33%	-8.01%	-9.32%
Average Drawdown Average peak-to-trough decline	-7.62%	-3.53%	-4.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.63%	4.02%	+10.61%

Volatility

CLOD vs. FEPI - Volatility Comparison

Themes Cloud Computing ETF (CLOD) has a higher volatility of 11.59% compared to REX FANG & Innovation Equity Premium Income ETF (FEPI) at 7.58%. This indicates that CLOD'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

	CLOD	FEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.59%	7.58%	+4.01%
Volatility (6M) Calculated over the trailing 6-month period	22.32%	14.01%	+8.31%
Volatility (1Y) Calculated over the trailing 1-year period	25.74%	17.84%	+7.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.54%	19.33%	+5.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.54%	19.33%	+5.21%

CLOD vs. FEPI - Expense Ratio Comparison

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

Dividends

CLOD vs. FEPI - Dividend Comparison

CLOD's dividend yield for the trailing twelve months is around 1.60%, less than FEPI's 26.88% yield.

Position	TTM	2025	2024	2023
CLOD Themes Cloud Computing ETF	1.60%	1.47%	0.00%	0.00%
FEPI REX FANG & Innovation Equity Premium Income ETF	26.88%	25.48%	27.18%	4.21%

Frequently Asked Questions

Can I hold both CLOD and FEPI in my portfolio?

CLOD and FEPI have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLOD or FEPI?

CLOD has higher volatility (11.59%) compared to FEPI (7.58%). In terms of maximum drawdown, CLOD dropped -31.36% vs FEPI's -23.56%.

Which ETF is better, CLOD or FEPI?

On 1-year performance, FEPI leads with 20.65% vs -8.67% for CLOD. On fees, CLOD is cheaper at 0.35% per year. On volatility, FEPI has been the lower-risk option at 7.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLOD or FEPI?

Over the 1-year period, FEPI has performed better with a 20.65% return vs -8.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLOD or FEPI?

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

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

FEPI has the higher dividend yield at 26.88%, compared with 1.60% for CLOD.

What is the main difference between CLOD and FEPI?

CLOD is categorized as Technology Equities, while FEPI is Derivative Income. They also come from different issuers: Themes and REX. Their fees differ too: 0.35% for CLOD and 0.65% for FEPI.

Which has better risk-adjusted returns?

FEPI currently has the higher Sharpe Ratio (1.16 vs -0.34), 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.