KNG vs. FEPI

Last updated Jun 28, 2026

KNG (FT Vest S&P 500 Dividend Aristocrats Target Income ETF) and FEPI (REX FANG & Innovation Equity Premium Income ETF) are both exchange-traded funds - KNG is a Dividend fund tracking the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series, while FEPI is a Derivative Income fund actively managed by REX. KNG is passively managed, while FEPI is actively managed. Over the past year, KNG returned 12.79% vs 16.30% for FEPI. At a 0.23 correlation, their price movements are largely independent. KNG charges 0.75%/yr vs 0.65%/yr for FEPI.

Performance

KNG vs. FEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) 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, KNG achieves a 7.61% return, which is significantly higher than FEPI's 1.96% return.

KNG

• 1D: 1.08%
• 1M: 5.26%
• YTD: 7.61%
• 6M: 6.65%
• 1Y: 12.79%
• 3Y*: 7.78%
• 5Y*: 5.81%
• 10Y*: —

FEPI

• 1D: -0.50%
• 1M: -9.01%
• YTD: 1.96%
• 6M: 1.18%
• 1Y: 16.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KNG vs. FEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF	7.61%	6.63%	5.99%	7.35%
FEPI REX FANG & Innovation Equity Premium Income ETF	1.96%	18.33%	15.69%	11.75%

Correlation

The correlation between KNG and FEPI is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (All Time) Calculated using the full available price history since Oct 11, 2023	0.23

The correlation between KNG and FEPI shifts across timeframes, from 0.05 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.

KNG vs. FEPI - Sectors Allocation Comparison

Sectors	KNG	FEPI
Consumer Defensive	23.6%	-
Industrials	20.2%	-
Financial Services	12.8%	-
Healthcare	10.2%	-
Basic Materials	10.2%	-
Utilities	5.7%	-
Consumer Cyclical	5.3%	12.4%
Technology	4.6%	65.5%
Real Estate	4.6%	-
Energy	2.9%	-
Communication Services	-	19.6%

Return for Risk

KNG vs. FEPI — Risk / Return Rank

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

KNG

KNG Risk / Return Rank: 35
KNG Sharpe Ratio Rank: 38
KNG Sortino Ratio Rank: 41
KNG Omega Ratio Rank: 35
KNG Calmar Ratio Rank: 33
KNG Martin Ratio Rank: 29

FEPI

FEPI Risk / Return Rank: 26
FEPI Sharpe Ratio Rank: 26
FEPI Sortino Ratio Rank: 25
FEPI Omega Ratio Rank: 26
FEPI Calmar Ratio Rank: 27
FEPI Martin Ratio Rank: 29

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.

KNG vs. FEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) 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.

	KNG	FEPI	Difference
Sharpe ratio: Return per unit of total volatility	1.27	0.91	+0.36
Sortino ratio: Return per unit of downside risk	1.93	1.31	+0.61
Omega ratio: Gain probability vs. loss probability	1.22	1.17	+0.05
Calmar ratio: Return relative to maximum drawdown	1.54	1.26	+0.28
Martin ratio: Return relative to average drawdown	3.86	3.92	-0.06

KNG vs. FEPI - Sharpe Ratio Comparison

The current KNG Sharpe Ratio is 1.27, which is higher than the FEPI Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of KNG 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

KNG vs. FEPI - Drawdown Comparison

The maximum KNG drawdown since its inception was -35.12%, which is greater than FEPI's maximum drawdown of -23.56%. Use the drawdown chart below to compare losses from any high point for KNG and FEPI.

Drawdown Indicators

	KNG	FEPI	Difference
Max Drawdown Largest peak-to-trough decline	-35.12%	-23.56%	-11.56%
Max Drawdown (1Y) Largest decline over 1 year	-8.61%	-12.91%	+4.30%
Max Drawdown (3Y) Largest decline over 3 years	-14.24%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.20%	—	—
Current Drawdown Current decline from peak	-0.91%	-9.01%	+8.10%
Average Drawdown Average peak-to-trough decline	-4.12%	-3.55%	-0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	4.14%	-0.72%

Volatility

KNG vs. FEPI - Volatility Comparison

The current volatility for FT Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) is 3.22%, while REX FANG & Innovation Equity Premium Income ETF (FEPI) has a volatility of 7.43%. This indicates that KNG 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

	KNG	FEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.22%	7.43%	-4.21%
Volatility (6M) Calculated over the trailing 6-month period	7.71%	13.93%	-6.22%
Volatility (1Y) Calculated over the trailing 1-year period	10.42%	17.78%	-7.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.59%	19.30%	-5.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.15%	19.30%	-2.15%

KNG vs. FEPI - Expense Ratio Comparison

KNG has a 0.75% expense ratio, which is higher than FEPI's 0.65% expense ratio.

Dividends

KNG vs. FEPI - Dividend Comparison

KNG's dividend yield for the trailing twelve months is around 8.29%, less than FEPI's 25.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FEPI REX FANG & Innovation Equity Premium Income ETF	25.49%	25.48%	27.18%	4.21%	0.00%	0.00%	0.00%	0.00%	0.00%
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF	8.29%	8.61%	9.08%	5.91%	4.00%	3.45%	3.62%	4.09%	3.46%

Frequently Asked Questions

Can I hold both KNG and FEPI in my portfolio?

KNG and FEPI have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KNG or FEPI?

FEPI has higher volatility (7.43%) compared to KNG (3.22%). In terms of maximum drawdown, KNG dropped -35.12% vs FEPI's -23.56%.

Which ETF is better, KNG or FEPI?

On 1-year performance, FEPI leads with 16.30% vs 12.79% for KNG. On fees, FEPI is cheaper at 0.65% per year. On volatility, KNG has been the lower-risk option at 3.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KNG or FEPI?

Over the 1-year period, FEPI has performed better with a 16.30% return vs 12.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KNG or FEPI?

FEPI is cheaper with a 0.65% expense ratio, compared with 0.75% for KNG.

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

FEPI has the higher dividend yield at 25.49%, compared with 8.29% for KNG.

What is the main difference between KNG and FEPI?

KNG is categorized as Dividend, while FEPI is Derivative Income. They also come from different issuers: First Trust and REX. Their fees differ too: 0.75% for KNG and 0.65% for FEPI.

Which has better risk-adjusted returns?

KNG currently has the higher Sharpe Ratio (1.27 vs 0.91), 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.