VERS vs. FEPI

Last updated Jun 4, 2026

VERS (ProShares Metaverse ETF) and FEPI (REX FANG & Innovation Equity Premium Income ETF) are both Technology Equities funds. VERS is passively managed, while FEPI is actively managed. Over the past year, VERS returned 68.21% vs 33.15% for FEPI. A 0.76 correlation means they provide meaningful diversification when combined. VERS charges 0.58%/yr vs 0.65%/yr for FEPI.

Performance

VERS vs. FEPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Metaverse ETF (VERS) 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, VERS achieves a 36.54% return, which is significantly higher than FEPI's 10.42% return.

VERS

• 1D: -0.99%
• 1M: 23.22%
• YTD: 36.54%
• 6M: 36.31%
• 1Y: 68.21%
• 3Y*: 31.89%
• 5Y*: —
• 10Y*: —

FEPI

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

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

VERS vs. FEPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VERS ProShares Metaverse ETF	36.54%	26.16%	16.92%	17.81%
FEPI REX FANG & Innovation Equity Premium Income ETF	10.42%	18.33%	15.69%	11.70%

Correlation

The correlation between VERS and FEPI is 0.73, 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	0.73
Correlation (All Time) Calculated using the full available price history since Oct 12, 2023	0.76

The correlation between VERS and FEPI has been stable across timeframes, ranging from 0.73 to 0.76 - a consistent structural relationship.

VERS vs. FEPI - Sectors Allocation Comparison

Sectors	VERS	FEPI
Technology	73.2%	62.1%
Communication Services	18.4%	24.9%
Consumer Cyclical	6.6%	13.0%
Real Estate	1.8%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Utilities	-	-

Return for Risk

VERS vs. FEPI — Risk / Return Rank

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

VERS

VERS Risk / Return Rank: 67
VERS Sharpe Ratio Rank: 80
VERS Sortino Ratio Rank: 73
VERS Omega Ratio Rank: 68
VERS Calmar Ratio Rank: 60
VERS Martin Ratio Rank: 51

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

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.

VERS vs. FEPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Metaverse ETF (VERS) 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.

	VERS	FEPI	Difference
Sharpe ratio: Return per unit of total volatility	2.59	2.02	+0.57
Sortino ratio: Return per unit of downside risk	3.26	2.67	+0.59
Omega ratio: Gain probability vs. loss probability	1.41	1.36	+0.04
Calmar ratio: Return relative to maximum drawdown	2.98	2.58	+0.40
Martin ratio: Return relative to average drawdown	8.63	8.66	-0.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VERS vs. FEPI - Sharpe Ratio Comparison

The current VERS Sharpe Ratio is 2.59, which is comparable to the FEPI Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of VERS 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.

Sharpe Ratios by Period

	VERS	FEPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	2.02	+0.57
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	1.16	-0.59

Drawdowns

VERS vs. FEPI - Drawdown Comparison

The maximum VERS drawdown since its inception was -42.13%, which is greater than FEPI's maximum drawdown of -23.56%. Use the drawdown chart below to compare losses from any high point for VERS and FEPI.

Drawdown Indicators

	VERS	FEPI	Difference
Max Drawdown Largest peak-to-trough decline	-42.13%	-23.56%	-18.57%
Max Drawdown (1Y) Largest decline over 1 year	-23.02%	-12.91%	-10.11%
Max Drawdown (3Y) Largest decline over 3 years	-29.34%	—	—
Current Drawdown Current decline from peak	-0.99%	-1.45%	+0.46%
Average Drawdown Average peak-to-trough decline	-15.06%	-3.51%	-11.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.92%	3.84%	+4.08%

Volatility

VERS vs. FEPI - Volatility Comparison

ProShares Metaverse ETF (VERS) has a higher volatility of 9.76% compared to REX FANG & Innovation Equity Premium Income ETF (FEPI) at 3.31%. This indicates that VERS's price experiences larger fluctuations and is considered to be riskier than FEPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VERS	FEPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.76%	3.31%	+6.45%
Volatility (6M) Calculated over the trailing 6-month period	20.43%	12.58%	+7.85%
Volatility (1Y) Calculated over the trailing 1-year period	26.54%	16.54%	+10.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.26%	19.02%	+12.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.26%	19.02%	+12.24%

VERS vs. FEPI - Expense Ratio Comparison

VERS has a 0.58% expense ratio, which is lower than FEPI's 0.65% expense ratio.

Dividends

VERS vs. FEPI - Dividend Comparison

VERS's dividend yield for the trailing twelve months is around 0.24%, less than FEPI's 23.92% yield.

Position	TTM	2025	2024	2023	2022
FEPI REX FANG & Innovation Equity Premium Income ETF	23.92%	25.48%	27.18%	4.21%	0.00%
VERS ProShares Metaverse ETF	0.24%	0.52%	0.58%	0.63%	0.44%

Frequently Asked Questions

Can I hold both VERS and FEPI in my portfolio?

VERS and FEPI have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VERS or FEPI?

VERS has higher volatility (9.76%) compared to FEPI (3.31%). In terms of maximum drawdown, VERS dropped -42.13% vs FEPI's -23.56%.

Which ETF is better, VERS or FEPI?

On 1-year performance, VERS leads with 68.21% vs 33.15% for FEPI. On fees, VERS is cheaper at 0.58% 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, VERS or FEPI?

Over the 1-year period, VERS has performed better with a 68.21% return vs 33.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VERS or FEPI?

VERS is cheaper with a 0.58% expense ratio, compared with 0.65% for FEPI.

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

FEPI has the higher dividend yield at 23.92%, compared with 0.24% for VERS.

What is the main difference between VERS and FEPI?

They also come from different issuers: ProShares and REX. Their fees differ too: 0.58% for VERS and 0.65% for FEPI.

Which has better risk-adjusted returns?

VERS currently has the higher Sharpe Ratio (2.59 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.