NVII vs. PEPS

Last updated Jun 24, 2026

NVII (REX NVIDIA Growth & Income ETF) and PEPS (Parametric Equity Plus ETF) are both Derivative Income funds. Both are actively managed. Over the past year, NVII returned 44.66% vs 26.19% for PEPS. A 0.60 correlation means they provide meaningful diversification when combined. NVII charges 0.99%/yr vs 0.10%/yr for PEPS.

Performance

NVII vs. PEPS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in REX NVIDIA Growth & Income ETF (NVII) and Parametric Equity Plus ETF (PEPS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVII achieves a 6.79% return, which is significantly lower than PEPS's 7.86% return.

NVII

• 1D: -5.17%
• 1M: -7.25%
• YTD: 6.79%
• 6M: 5.86%
• 1Y: 44.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PEPS

• 1D: -1.38%
• 1M: -0.55%
• YTD: 7.86%
• 6M: 7.03%
• 1Y: 26.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVII vs. PEPS - Yearly Performance Comparison

	2026 (YTD)	2025
NVII REX NVIDIA Growth & Income ETF	6.79%	47.63%
PEPS Parametric Equity Plus ETF	7.86%	20.64%

Correlation

The correlation between NVII and PEPS is 0.59, 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	0.59
Correlation (All Time) Calculated using the full available price history since May 28, 2025	0.60

The correlation between NVII and PEPS has been stable across timeframes, ranging from 0.59 to 0.60 - a consistent structural relationship.

Return for Risk

NVII vs. PEPS — Risk / Return Rank

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

NVII

NVII Risk / Return Rank: 39
NVII Sharpe Ratio Rank: 36
NVII Sortino Ratio Rank: 34
NVII Omega Ratio Rank: 33
NVII Calmar Ratio Rank: 51
NVII Martin Ratio Rank: 38

PEPS

PEPS Risk / Return Rank: 62
PEPS Sharpe Ratio Rank: 62
PEPS Sortino Ratio Rank: 57
PEPS Omega Ratio Rank: 62
PEPS Calmar Ratio Rank: 58
PEPS Martin Ratio Rank: 70

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.

NVII vs. PEPS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX NVIDIA Growth & Income ETF (NVII) and Parametric Equity Plus ETF (PEPS). 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.

	NVII	PEPS	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.91	-0.67
Sortino ratio: Return per unit of downside risk	1.72	2.53	-0.81
Omega ratio: Gain probability vs. loss probability	1.22	1.35	-0.13
Calmar ratio: Return relative to maximum drawdown	2.43	2.69	-0.26
Martin ratio: Return relative to average drawdown	5.78	12.10	-6.31

NVII vs. PEPS - Sharpe Ratio Comparison

The current NVII Sharpe Ratio is 1.24, which is lower than the PEPS Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of NVII and PEPS, 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

NVII vs. PEPS - Drawdown Comparison

The maximum NVII drawdown since its inception was -18.47%, smaller than the maximum PEPS drawdown of -21.26%. Use the drawdown chart below to compare losses from any high point for NVII and PEPS.

Drawdown Indicators

	NVII	PEPS	Difference
Max Drawdown Largest peak-to-trough decline	-18.47%	-21.26%	+2.79%
Max Drawdown (1Y) Largest decline over 1 year	-18.47%	-9.80%	-8.67%
Current Drawdown Current decline from peak	-15.44%	-3.04%	-12.40%
Average Drawdown Average peak-to-trough decline	-5.79%	-2.75%	-3.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.75%	2.17%	+5.58%

Volatility

NVII vs. PEPS - Volatility Comparison

REX NVIDIA Growth & Income ETF (NVII) has a higher volatility of 14.72% compared to Parametric Equity Plus ETF (PEPS) at 5.38%. This indicates that NVII's price experiences larger fluctuations and is considered to be riskier than PEPS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVII	PEPS	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.72%	5.38%	+9.34%
Volatility (6M) Calculated over the trailing 6-month period	27.34%	10.82%	+16.52%
Volatility (1Y) Calculated over the trailing 1-year period	36.23%	13.80%	+22.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.73%	18.43%	+17.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.73%	18.43%	+17.30%

NVII vs. PEPS - Expense Ratio Comparison

NVII has a 0.99% expense ratio, which is higher than PEPS's 0.10% expense ratio.

Dividends

NVII vs. PEPS - Dividend Comparison

NVII's dividend yield for the trailing twelve months is around 57.45%, more than PEPS's 0.95% yield.

Position	TTM	2025	2024
NVII REX NVIDIA Growth & Income ETF	57.45%	29.17%	0.00%
PEPS Parametric Equity Plus ETF	0.95%	1.00%	0.17%

Frequently Asked Questions

Can I hold both NVII and PEPS in my portfolio?

NVII and PEPS have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVII or PEPS?

NVII has higher volatility (14.72%) compared to PEPS (5.38%). In terms of maximum drawdown, NVII dropped -18.47% vs PEPS's -21.26%.

Which ETF is better, NVII or PEPS?

On 1-year performance, NVII leads with 44.66% vs 26.19% for PEPS. On fees, PEPS is cheaper at 0.10% per year. On volatility, PEPS has been the lower-risk option at 5.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVII or PEPS?

Over the 1-year period, NVII has performed better with a 44.66% return vs 26.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVII or PEPS?

PEPS is cheaper with a 0.10% expense ratio, compared with 0.99% for NVII.

Which ETF pays a higher dividend yield, NVII or PEPS?

NVII has the higher dividend yield at 57.45%, compared with 0.95% for PEPS.

What is the main difference between NVII and PEPS?

They also come from different issuers: REX and Parametric. Their fees differ too: 0.99% for NVII and 0.10% for PEPS.

Which has better risk-adjusted returns?

PEPS currently has the higher Sharpe Ratio (1.91 vs 1.24), 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.