FEPI vs. SMH ETF Comparison

Comparison of REX FANG & Innovation Equity Premium Income ETF (FEPI) to Market Vectors Semiconductor ETF (SMH)

FEPI

REX FANG & Innovation Equity Premium Income ETF

FEPI Description

FEPI employs a covered call strategy, aiming for a balance between generating income and participating in potential gains within the technology sector. Specifically, the fund holds the stocks of its benchmark, the Solactive FANG Innovation Index, and writes slightly out-of-the-money call options on them. This approach capitalizes on the volatility of big-tech firms that is reflected in the option premiums, while limiting some of the potential stock gains. It also provides a small buffer against declines in stock prices. Note that the buffer is limited to the options premiums and may not fully offset underlying security losses. The benchmark is an equal-weighted index comprised of 15 US technology companies, eight of which are core holdings: Apple, Alphabet, Amazon, Meta, Microsoft, Netflix, Nvidia, and Tesla. The remaining seven are selected based on quarterly trading volumes from various Factset technology-related industries.

Grade (RS Rating)

Last Trade

$52.06

Average Daily Volume

113,325

Number of Holdings ^*

* may have additional holdings in another (foreign) market

SMH

Market Vectors Semiconductor ETF

SMH Description

The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors US Listed Semiconductor 25 Index (the "Semiconductor Index"). The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index. The Semiconductor Index is comprised of common stocks and depositary receipts of U.S. exchange-listed companies in the semiconductor industry. Such companies may include medium-capitalization companies and foreign companies that are listed on a U.S. exchange. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$212.03

Average Daily Volume

8,580,878

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	FEPI	SMH
30 Days	-4.07%	-5.77%
60 Days	-4.31%	-3.86%
90 Days	-1.48%	10.88%
12 Months		73.49%

5 Overlapping Holdings

Symbol	Grade	Weight in FEPI	Weight in SMH	Overlap
AMD	D	6.55%	3.94%	3.94%
AVGO	D	6.74%	7.87%	6.74%
INTC	F	6.74%	3.89%	3.89%
MU	B	6.38%	4.53%	4.53%
NVDA	C	6.58%	20.04%	6.58%

FEPI Overweight 10 Positions Relative to SMH

Symbol	Grade	Weight
TSLA	C	7.59%
PANW	B	7.32%
GOOGL	A	7.02%
AAPL	F	6.98%
ADBE	F	6.93%
CRM	D	6.83%
MSFT	C	6.68%
AMZN	B	6.59%
NFLX	D	6.35%
META	D	6.12%

FEPI Underweight 20 Positions Relative to SMH

Symbol	Grade	Weight
TSM	C	-12.53%
ASML	D	-4.85%
QCOM	C	-4.8%
TXN	A	-4.78%
AMAT	D	-4.49%
LRCX	D	-4.45%
ADI	A	-3.74%
KLAC	C	-3.47%
SNPS	D	-3.22%
CDNS	D	-3.03%
NXPI	B	-1.97%
MCHP	A	-1.74%
MRVL	D	-1.72%
STM	F	-1.26%
MPWR	C	-1.0%
ON	D	-0.83%
SWKS	F	-0.61%
TER	A	-0.52%
QRVO	C	-0.4%
OLED	F	-0.29%