GOF vs. FEPI

Last updated Jul 7, 2026

GOF (Guggenheim Strategic Opportunities Fund) and FEPI (REX FANG & Innovation Equity Premium Income ETF) are both funds - GOF is a Multisector Bonds fund actively managed by Guggenheim, while FEPI is a Derivative Income fund actively managed by REX. Both are actively managed. Over the past year, GOF returned -13.15% vs 18.64% for FEPI. At a 0.32 correlation, their price movements are largely independent. GOF charges 1.89%/yr vs 0.65%/yr for FEPI.

Performance

GOF vs. FEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Guggenheim Strategic Opportunities Fund (GOF) 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, GOF achieves a -6.73% return, which is significantly lower than FEPI's 4.64% return.

GOF

• 1D: -0.45%
• 1M: 1.03%
• 6M: -7.09%
• YTD: -6.73%
• 1Y: -13.15%
• 3Y*: 2.97%
• 5Y*: 0.32%
• 10Y*: 7.75%

FEPI

• 1D: 1.50%
• 1M: -1.67%
• 6M: 4.85%
• YTD: 4.64%
• 1Y: 18.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GOF vs. FEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GOF Guggenheim Strategic Opportunities Fund	-6.73%	-1.92%	38.04%	-4.74%
FEPI REX FANG & Innovation Equity Premium Income ETF	4.64%	18.33%	15.69%	11.75%

Correlation

The correlation between GOF and FEPI is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (All Time) Calculated using the full available price history since Oct 11, 2023	0.32

Return for Risk

GOF vs. FEPI — Risk / Return Rank

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

GOF

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

FEPI

FEPI Risk / Return Rank: 33
FEPI Sharpe Ratio Rank: 33
FEPI Sortino Ratio Rank: 31
FEPI Omega Ratio Rank: 32
FEPI Calmar Ratio Rank: 33
FEPI Martin Ratio Rank: 34

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.

GOF vs. FEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Guggenheim Strategic Opportunities Fund (GOF) 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.

	GOF	FEPI	Difference
Sharpe ratio: Return per unit of total volatility	-0.73	1.04	-1.77
Sortino ratio: Return per unit of downside risk	-0.84	1.47	-2.31
Omega ratio: Gain probability vs. loss probability	0.87	1.19	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.57	1.45	-2.02
Martin ratio: Return relative to average drawdown	-0.99	4.40	-5.39

GOF vs. FEPI - Sharpe Ratio Comparison

The current GOF Sharpe Ratio is -0.73, which is lower than the FEPI Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of GOF 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

GOF vs. FEPI - Drawdown Comparison

The maximum GOF drawdown since its inception was -54.66%, which is greater than FEPI's maximum drawdown of -23.56%. Use the drawdown chart below to compare losses from any high point for GOF and FEPI.

Drawdown Indicators

	GOF	FEPI	Difference
Max Drawdown Largest peak-to-trough decline	-54.66%	-23.56%	-31.10%
Max Drawdown (1Y) Largest decline over 1 year	-23.24%	-12.91%	-10.33%
Max Drawdown (3Y) Largest decline over 3 years	-28.56%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.41%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.50%	—	—
Current Drawdown Current decline from peak	-16.92%	-6.61%	-10.31%
Average Drawdown Average peak-to-trough decline	-7.10%	-3.58%	-3.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.24%	4.25%	+8.99%

Volatility

GOF vs. FEPI - Volatility Comparison

The current volatility for Guggenheim Strategic Opportunities Fund (GOF) is 3.61%, while REX FANG & Innovation Equity Premium Income ETF (FEPI) has a volatility of 8.12%. This indicates that GOF 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

	GOF	FEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	8.12%	-4.51%
Volatility (6M) Calculated over the trailing 6-month period	11.05%	14.32%	-3.27%
Volatility (1Y) Calculated over the trailing 1-year period	18.18%	18.07%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.20%	19.34%	-1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.53%	19.34%	+0.19%

GOF vs. FEPI - Expense Ratio Comparison

GOF has a 1.89% expense ratio, which is higher than FEPI's 0.65% expense ratio.

Dividends

GOF vs. FEPI - Dividend Comparison

GOF's dividend yield for the trailing twelve months is around 19.97%, less than FEPI's 25.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEPI REX FANG & Innovation Equity Premium Income ETF	25.45%	25.48%	27.18%	4.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GOF Guggenheim Strategic Opportunities Fund	19.97%	16.97%	14.32%	17.07%	14.36%	11.93%	11.26%	12.08%	11.96%	10.13%	11.13%	12.98%

Frequently Asked Questions

Can I hold both GOF and FEPI in my portfolio?

GOF and FEPI have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GOF or FEPI?

FEPI has higher volatility (8.12%) compared to GOF (3.61%). In terms of maximum drawdown, GOF dropped -54.66% vs FEPI's -23.56%.

Which has better risk-adjusted returns?

FEPI currently has the higher Sharpe Ratio (1.04 vs -0.73), 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.