FEPI vs. XLK

Last updated Jun 4, 2026

FEPI (REX FANG & Innovation Equity Premium Income ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both Technology Equities funds. FEPI is actively managed, while XLK is passively managed. Over the past year, FEPI returned 33.15% vs 66.93% for XLK. Their correlation of 0.88 suggests significant overlap in exposure. FEPI charges 0.65%/yr vs 0.08%/yr for XLK.

Performance

FEPI vs. XLK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in REX FANG & Innovation Equity Premium Income ETF (FEPI) and State Street Technology Select Sector SPDR ETF (XLK). 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 XLK's 36.47% return.

FEPI

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

XLK

• 1D: -1.00%
• 1M: 21.09%
• YTD: 36.47%
• 6M: 35.71%
• 1Y: 66.93%
• 3Y*: 33.90%
• 5Y*: 23.83%
• 10Y*: 25.84%

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

FEPI vs. XLK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FEPI REX FANG & Innovation Equity Premium Income ETF	10.42%	18.33%	15.69%	11.70%
XLK State Street Technology Select Sector SPDR ETF	36.47%	24.61%	21.63%	12.86%

Correlation

The correlation between FEPI and XLK is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (All Time) Calculated using the full available price history since Oct 12, 2023	0.88

The correlation between FEPI and XLK has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.

FEPI vs. XLK - Sectors Allocation Comparison

Sectors	FEPI	XLK
Technology	62.1%	99.7%
Communication Services	24.9%	-
Consumer Cyclical	13.0%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	0.2%
Financial Services	-	-
Healthcare	-	-
Industrials	-	0.1%
Real Estate	-	-
Utilities	-	-

Return for Risk

FEPI vs. XLK — 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

XLK

XLK Risk / Return Rank: 83
XLK Sharpe Ratio Rank: 91
XLK Sortino Ratio Rank: 85
XLK Omega Ratio Rank: 83
XLK Calmar Ratio Rank: 80
XLK Martin Ratio Rank: 73

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. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX FANG & Innovation Equity Premium Income ETF (FEPI) and State Street Technology Select Sector SPDR ETF (XLK). 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	XLK	Difference
Sharpe ratio: Return per unit of total volatility	2.02	3.24	-1.22
Sortino ratio: Return per unit of downside risk	2.67	3.92	-1.25
Omega ratio: Gain probability vs. loss probability	1.36	1.52	-0.15
Calmar ratio: Return relative to maximum drawdown	2.58	4.22	-1.64
Martin ratio: Return relative to average drawdown	8.66	14.16	-5.50
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. XLK - Sharpe Ratio Comparison

The current FEPI Sharpe Ratio is 2.02, which is lower than the XLK Sharpe Ratio of 3.24. The chart below compares the historical Sharpe Ratios of FEPI and XLK, 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	XLK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	3.24	-1.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.96	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	0.42	+0.74

Drawdowns

FEPI vs. XLK - Drawdown Comparison

The maximum FEPI drawdown since its inception was -23.56%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for FEPI and XLK.

Drawdown Indicators

	FEPI	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-23.56%	-82.05%	+58.49%
Max Drawdown (1Y) Largest decline over 1 year	-12.91%	-15.92%	+3.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-25.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.56%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.56%	—
Current Drawdown Current decline from peak	-1.45%	-1.00%	-0.45%
Average Drawdown Average peak-to-trough decline	-3.51%	-34.96%	+31.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	4.74%	-0.90%

Volatility

FEPI vs. XLK - Volatility Comparison

The current volatility for REX FANG & Innovation Equity Premium Income ETF (FEPI) is 3.31%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 6.98%. This indicates that FEPI experiences smaller price fluctuations and is considered to be less risky than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEPI	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.31%	6.98%	-3.67%
Volatility (6M) Calculated over the trailing 6-month period	12.58%	16.68%	-4.10%
Volatility (1Y) Calculated over the trailing 1-year period	16.54%	20.82%	-4.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.02%	24.90%	-5.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.02%	24.49%	-5.47%

FEPI vs. XLK - Expense Ratio Comparison

FEPI has a 0.65% expense ratio, which is higher than XLK's 0.08% expense ratio.

Dividends

FEPI vs. XLK - Dividend Comparison

FEPI's dividend yield for the trailing twelve months is around 23.92%, more than XLK's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEPI REX FANG & Innovation Equity Premium Income ETF	23.92%	25.48%	27.18%	4.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLK State Street Technology Select Sector SPDR ETF	0.39%	0.54%	0.66%	0.76%	1.04%	0.65%	0.92%	1.16%	1.60%	1.37%	1.74%	1.79%

Frequently Asked Questions

Can I hold both FEPI and XLK in my portfolio?

FEPI and XLK have a correlation of 0.83, 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 XLK?

XLK has higher volatility (6.98%) compared to FEPI (3.31%). In terms of maximum drawdown, FEPI dropped -23.56% vs XLK's -82.05%.

Which ETF is better, FEPI or XLK?

On 1-year performance, XLK leads with 66.93% vs 33.15% for FEPI. On fees, XLK is cheaper at 0.08% 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, FEPI or XLK?

Over the 1-year period, XLK has performed better with a 66.93% return vs 33.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEPI or XLK?

XLK is cheaper with a 0.08% expense ratio, compared with 0.65% for FEPI.

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

FEPI has the higher dividend yield at 23.92%, compared with 0.39% for XLK.

What is the main difference between FEPI and XLK?

They also come from different issuers: REX and State Street. Their fees differ too: 0.65% for FEPI and 0.08% for XLK.

Which has better risk-adjusted returns?

XLK currently has the higher Sharpe Ratio (3.24 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.