SPYT vs FEPI: Income Fund Comparison
Defiance S&P 500 Income Target ETF - US (SPYT) and REX FANG & Innovation Equity Premium Income ETF - US (FEPI) are both income-focused funds. Below is our independent side-by-side review using the Dependable Income Investing 13-factor scoring system — designed specifically for income investors seeking reliable, sustainable distributions.
Also see: SPYT individual review · FEPI individual review
SPYT: Expense ratio is 0.87%. FEPI: Total expense ratio is 0.65%. SPYT the fund was established March 7 2024 - just over 2 years of history. FEPI inception date was October 11 2023. As of March 6 2026 the fund is approximately 2 years and 4 months old. Full Dependability and Return scores for both funds are available in the app.
| SPYT | FEPI | |
|---|---|---|
| Fund Name | Defiance S&P 500 Income Target ETF - US | REX FANG & Innovation Equity Premium Income ETF - US |
| Fund Type | Index Based Fund | Sector Based Fund - Information Technology |
| Exchange | NYSE/NASDAQ | NYSE/NASDAQ |
| Last Reviewed | 2026-04-07 | 2026-03-06 |
| Author | Adam Hyde, Income Investing Analyst | |
🔒 Full scores available — with Premium subscription
Compare Performance — Free →Fund Attributes: SPYT vs FEPI 20% of overall score
Fund Attributes cover the foundational characteristics of each fund: cost, company backing, track record, and size. These factors reflect stability and cost-efficiency for long-term income investors.
Expense ratio is 0.87%.
Total expense ratio is 0.65%.
Defiance ETFs manages approximately $7.32 billion across its ETF suite.
Over $10 billion in assets under management for Rex Financial.
The fund was established March 7 2024 - just over 2 years of history.
Inception date was October 11 2023. As of March 6 2026 the fund is approximately 2 years and 4 months old.
Net assets are approximately $138 million.
Fund AUM is approximately $591.6 million as of March 4 2026.
Risk: SPYT vs FEPI 35% of overall score
Risk factors evaluate how each fund manages volatility, diversification, and the nature of its underlying assets — critical considerations for income investors who prioritise capital preservation.
Beta is 1.0154 vs SPY over the data series from 2024-03-15 to 2026-03-28 - in line with the market. Standalone volatility is 14.23% annualized (weekly total returns) - low to moderate price choppiness.
Beta is 1.12 vs SPY over the available price series (October 2023 to March 2026). Standalone annualized volatility is 21.39% (weekly total returns). Both measures score 3.
See the full Risk analysis for both SPYT and FEPI — volatility ratings, diversification scores, and analyst notes.
View Plans →Return: SPYT vs FEPI 45% of overall score
Return factors assess income generation quality: current yield, distribution consistency, price history, and payment frequency. This is the most heavily weighted category for income investors.
Monthly distributions confirmed by distribution history.
Fund pays monthly distributions.
See the full Return analysis for both SPYT and FEPI — yield ratings, distribution consistency scores, and capital history.
View Plans →Our Review Methodology
Every fund reviewed on Dependable Income Investing is scored using our 13-factor Fund Report Card, organised into three weighted categories: Fund Attributes (20%), Risk (35%), and Return (45%). Each criterion is rated 1–5 by our analysts based on publicly available fund data.
We also calculate a Dependability Score — a weighted composite of six income-specific factors ranked by importance for retirement income investors: Yield Stability, Yield, Volatility, Capital History, Fund Risk, and Underlying Assets. This score answers the question income investors care about most: can I depend on this fund to pay me reliably?
Full scores, ratings, and analyst notes for both SPYT and FEPI are available in the Dependable Income Investing app.
See our full scoring methodology →
Frequently Asked Questions: SPYT vs FEPI
Which has a lower expense ratio, SPYT or FEPI?
SPYT: Expense ratio is 0.87%.
FEPI: Total expense ratio is 0.65%.
Which fund has more assets under management, SPYT or FEPI?
SPYT: Net assets are approximately $138 million.
FEPI: Fund AUM is approximately $591.6 million as of March 4 2026.
Which fund has been trading longer, SPYT or FEPI?
SPYT: The fund was established March 7 2024 - just over 2 years of history.
FEPI: Inception date was October 11 2023. As of March 6 2026 the fund is approximately 2 years and 4 months old.
Who manages SPYT vs FEPI?
SPYT: Defiance ETFs manages approximately $7.32 billion across its ETF suite.
FEPI: Over $10 billion in assets under management for Rex Financial.
Where can I see the full SPYT vs FEPI comparison with scores?
The complete side-by-side comparison — including all Risk and Return scores, analyst notes, Overall Score, and Dependability Score for both funds — is available in the Dependable Income Investing app.
What is the difference between SPYT and FEPI?
Defiance S&P 500 Income Target ETF - US is a Index Based Fund. Expense ratio is 0.87%. REX FANG & Innovation Equity Premium Income ETF - US is a Sector Based Fund - Information Technology. Total expense ratio is 0.65%. Full comparison including Dependability Score is available in the Dependable Income Investing app.
Which is better for income investors, SPYT or FEPI?
SPYT: Expense ratio is 0.87%. The fund was established March 7 2024 - just over 2 years of history. FEPI: Total expense ratio is 0.65%. Inception date was October 11 2023. As of March 6 2026 the fund is approximately 2 years and 4 months old. Which scores higher on Dependability and Return is available in the Dependable Income Investing app.
Do SPYT and FEPI pay monthly distributions?
SPYT: Monthly distributions confirmed by distribution history. FEPI: Fund pays monthly distributions. Full yield and distribution stability scores for both funds are available in the Dependable Income Investing app.
See the Full SPYT vs FEPI Comparison
The Dependable Income Investing app gives you the complete picture: all 13 scoring factors for both funds, Risk and Return analyst notes, Dependability Scores, and tools to compare any income fund side by side.
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