FEPI vs. BALI

Last updated Jun 4, 2026

FEPI (REX FANG & Innovation Equity Premium Income ETF) and BALI (Blackrock Advantage Large Cap Income ETF) are both exchange-traded funds - FEPI is a Technology Equities fund actively managed by REX, while BALI is a Derivative Income fund actively managed by BlackRock. Both are actively managed. Over the past year, FEPI returned 33.15% vs 26.38% for BALI. A 0.80 correlation means they provide meaningful diversification when combined. FEPI charges 0.65%/yr vs 0.35%/yr for BALI.

Performance

FEPI vs. BALI - Performance Comparison

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

Returns By Period

In the year-to-date period, FEPI achieves a 10.42% return, which is significantly lower than BALI's 11.22% return.

FEPI

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

BALI

• 1D: -0.41%
• 1M: 4.44%
• YTD: 11.22%
• 6M: 11.78%
• 1Y: 26.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FEPI vs. BALI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FEPI REX FANG & Innovation Equity Premium Income ETF	10.42%	18.33%	15.69%	11.70%
BALI Blackrock Advantage Large Cap Income ETF	11.22%	14.51%	22.38%	7.58%

Correlation

The correlation between FEPI and BALI is 0.77, 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	0.77
Correlation (All Time) Calculated using the full available price history since Oct 12, 2023	0.80

The correlation between FEPI and BALI has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.

FEPI vs. BALI - Sectors Allocation Comparison

Sectors	FEPI	BALI
Technology	62.1%	35.0%
Communication Services	24.9%	10.6%
Consumer Cyclical	13.0%	10.2%
Basic Materials	-	1.4%
Consumer Defensive	-	6.1%
Energy	-	4.3%
Financial Services	-	9.0%
Healthcare	-	9.4%
Industrials	-	8.0%
Real Estate	-	0.9%
Utilities	-	1.9%

Return for Risk

FEPI vs. BALI — Risk / Return Rank

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

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

BALI

BALI Risk / Return Rank: 82
BALI Sharpe Ratio Rank: 81
BALI Sortino Ratio Rank: 81
BALI Omega Ratio Rank: 81
BALI Calmar Ratio Rank: 77
BALI Martin Ratio Rank: 88

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.

FEPI vs. BALI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX FANG & Innovation Equity Premium Income ETF (FEPI) and Blackrock Advantage Large Cap Income ETF (BALI). 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.

	FEPI	BALI	Difference
Sharpe ratio: Return per unit of total volatility	2.02	2.67	-0.66
Sortino ratio: Return per unit of downside risk	2.67	3.72	-1.05
Omega ratio: Gain probability vs. loss probability	1.36	1.50	-0.14
Calmar ratio: Return relative to maximum drawdown	2.58	3.95	-1.37
Martin ratio: Return relative to average drawdown	8.66	19.71	-11.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEPI vs. BALI - Sharpe Ratio Comparison

The current FEPI Sharpe Ratio is 2.02, which is comparable to the BALI Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of FEPI and BALI, 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

	FEPI	BALI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	2.67	-0.66
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	1.72	-0.56

Drawdowns

FEPI vs. BALI - Drawdown Comparison

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

Drawdown Indicators

	FEPI	BALI	Difference
Max Drawdown Largest peak-to-trough decline	-23.56%	-16.65%	-6.91%
Max Drawdown (1Y) Largest decline over 1 year	-12.91%	-6.71%	-6.20%
Current Drawdown Current decline from peak	-1.45%	-0.41%	-1.04%
Average Drawdown Average peak-to-trough decline	-3.51%	-1.63%	-1.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	1.34%	+2.50%

Volatility

FEPI vs. BALI - Volatility Comparison

REX FANG & Innovation Equity Premium Income ETF (FEPI) has a higher volatility of 3.31% compared to Blackrock Advantage Large Cap Income ETF (BALI) at 1.95%. This indicates that FEPI's price experiences larger fluctuations and is considered to be riskier than BALI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEPI	BALI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.31%	1.95%	+1.36%
Volatility (6M) Calculated over the trailing 6-month period	12.58%	7.47%	+5.11%
Volatility (1Y) Calculated over the trailing 1-year period	16.54%	9.91%	+6.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.02%	12.93%	+6.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.02%	12.93%	+6.09%

FEPI vs. BALI - Expense Ratio Comparison

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

Dividends

FEPI vs. BALI - Dividend Comparison

FEPI's dividend yield for the trailing twelve months is around 23.92%, more than BALI's 7.66% yield.

Position	TTM	2025	2024	2023
BALI Blackrock Advantage Large Cap Income ETF	7.66%	8.51%	7.13%	2.13%
FEPI REX FANG & Innovation Equity Premium Income ETF	23.92%	25.48%	27.18%	4.21%

Frequently Asked Questions

Can I hold both FEPI and BALI in my portfolio?

FEPI and BALI have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEPI or BALI?

FEPI has higher volatility (3.31%) compared to BALI (1.95%). In terms of maximum drawdown, FEPI dropped -23.56% vs BALI's -16.65%.

Which ETF is better, FEPI or BALI?

On 1-year performance, FEPI leads with 33.15% vs 26.38% for BALI. On fees, BALI is cheaper at 0.35% per year. On volatility, BALI has been the lower-risk option at 1.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEPI or BALI?

Over the 1-year period, FEPI has performed better with a 33.15% return vs 26.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEPI or BALI?

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

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

FEPI has the higher dividend yield at 23.92%, compared with 7.66% for BALI.

What is the main difference between FEPI and BALI?

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

Which has better risk-adjusted returns?

BALI currently has the higher Sharpe Ratio (2.67 vs 2.02), 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.