MAGY vs. FEPI

Last updated Jun 16, 2026

MAGY (Roundhill Magnificent Seven Covered Call ETF) and FEPI (REX FANG & Innovation Equity Premium Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, MAGY returned 9.58% vs 29.40% for FEPI. A 0.78 correlation means they provide meaningful diversification when combined. MAGY charges 0.99%/yr vs 0.65%/yr for FEPI.

Performance

MAGY vs. FEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Magnificent Seven Covered Call ETF (MAGY) 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, MAGY achieves a -3.76% return, which is significantly lower than FEPI's 8.42% return.

MAGY

• 1D: 2.53%
• 1M: -3.57%
• YTD: -3.76%
• 6M: -2.38%
• 1Y: 9.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FEPI

• 1D: 2.85%
• 1M: 1.58%
• YTD: 8.42%
• 6M: 10.88%
• 1Y: 29.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MAGY vs. FEPI - Yearly Performance Comparison

	2026 (YTD)	2025
MAGY Roundhill Magnificent Seven Covered Call ETF	-3.76%	26.42%
FEPI REX FANG & Innovation Equity Premium Income ETF	8.42%	40.46%

Correlation

The correlation between MAGY and FEPI is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since Apr 23, 2025	0.78

The correlation between MAGY and FEPI has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.

MAGY vs. FEPI - Sectors Allocation Comparison

Sectors	MAGY	FEPI
Financial Services	100.1%	-
Basic Materials	-	-
Communication Services	-	19.6%
Consumer Cyclical	-	12.4%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	65.5%
Utilities	-	-

Return for Risk

MAGY vs. FEPI — Risk / Return Rank

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

MAGY

MAGY Risk / Return Rank: 20
MAGY Sharpe Ratio Rank: 21
MAGY Sortino Ratio Rank: 18
MAGY Omega Ratio Rank: 21
MAGY Calmar Ratio Rank: 18
MAGY Martin Ratio Rank: 20

FEPI

FEPI Risk / Return Rank: 53
FEPI Sharpe Ratio Rank: 56
FEPI Sortino Ratio Rank: 51
FEPI Omega Ratio Rank: 56
FEPI Calmar Ratio Rank: 51
FEPI Martin Ratio Rank: 49

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.

MAGY vs. FEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Magnificent Seven Covered Call ETF (MAGY) 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.

	MAGY	FEPI	Difference
Sharpe ratio: Return per unit of total volatility	0.64	1.71	-1.07
Sortino ratio: Return per unit of downside risk	0.92	2.28	-1.36
Omega ratio: Gain probability vs. loss probability	1.13	1.31	-0.18
Calmar ratio: Return relative to maximum drawdown	0.67	2.29	-1.61
Martin ratio: Return relative to average drawdown	2.15	7.48	-5.33

MAGY vs. FEPI - Sharpe Ratio Comparison

The current MAGY Sharpe Ratio is 0.64, which is lower than the FEPI Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of MAGY 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

MAGY vs. FEPI - Drawdown Comparison

The maximum MAGY drawdown since its inception was -14.29%, smaller than the maximum FEPI drawdown of -23.56%. Use the drawdown chart below to compare losses from any high point for MAGY and FEPI.

Drawdown Indicators

	MAGY	FEPI	Difference
Max Drawdown Largest peak-to-trough decline	-14.29%	-23.56%	+9.27%
Max Drawdown (1Y) Largest decline over 1 year	-14.29%	-12.91%	-1.38%
Current Drawdown Current decline from peak	-5.86%	-3.24%	-2.62%
Average Drawdown Average peak-to-trough decline	-2.79%	-3.51%	+0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	3.94%	+0.52%

Volatility

MAGY vs. FEPI - Volatility Comparison

Roundhill Magnificent Seven Covered Call ETF (MAGY) and REX FANG & Innovation Equity Premium Income ETF (FEPI) have volatilities of 6.19% and 6.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAGY	FEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.19%	6.42%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	12.46%	13.68%	-1.22%
Volatility (1Y) Calculated over the trailing 1-year period	15.04%	17.31%	-2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.21%	19.19%	-3.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.21%	19.19%	-3.98%

MAGY vs. FEPI - Expense Ratio Comparison

MAGY has a 0.99% expense ratio, which is higher than FEPI's 0.65% expense ratio.

Dividends

MAGY vs. FEPI - Dividend Comparison

MAGY's dividend yield for the trailing twelve months is around 38.39%, more than FEPI's 24.96% yield.

Position	TTM	2025	2024	2023
FEPI REX FANG & Innovation Equity Premium Income ETF	24.96%	25.48%	27.18%	4.21%
MAGY Roundhill Magnificent Seven Covered Call ETF	38.39%	23.38%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MAGY and FEPI in my portfolio?

MAGY and FEPI have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAGY or FEPI?

FEPI has higher volatility (6.42%) compared to MAGY (6.19%). In terms of maximum drawdown, MAGY dropped -14.29% vs FEPI's -23.56%.

Which ETF is better, MAGY or FEPI?

On 1-year performance, FEPI leads with 29.40% vs 9.58% for MAGY. On fees, FEPI is cheaper at 0.65% per year. On volatility, MAGY has been the lower-risk option at 6.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAGY or FEPI?

Over the 1-year period, FEPI has performed better with a 29.40% return vs 9.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAGY or FEPI?

FEPI is cheaper with a 0.65% expense ratio, compared with 0.99% for MAGY.

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

MAGY has the higher dividend yield at 38.39%, compared with 24.96% for FEPI.

What is the main difference between MAGY and FEPI?

They also come from different issuers: Roundhill and REX. Their fees differ too: 0.99% for MAGY and 0.65% for FEPI.

Which has better risk-adjusted returns?

FEPI currently has the higher Sharpe Ratio (1.71 vs 0.64), 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.