Dividend comparison

DIVO vs FEPI: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Amplify CWP Enhanced Dividend Income ETF and REX FANG & Innovation Equity Premium Income ETF, side by side. Updated October 21, 2026.

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DIVO vs FEPI: key differences
The short answer, from the latest data on this page.
  • Fees. DIVO is cheaper at 0.56% a year versus 0.65% for FEPI. On $10,000 that is $9 a year less in fees.
  • Income. FEPI pays more income, yielding 26.40% over the last twelve months versus 6.28% for DIVO. That is about $2,012 more a year on $10,000. DIVO pays quarterly, FEPI pays monthly.
  • Performance. Over the last 3 years, DIVO returned 54.5% versus 40.7% for FEPI, with dividends reinvested. $10,000 would have grown to $15,445 in DIVO and $14,073 in FEPI.
  • Risk. FEPI has been the bumpier ride. Its worst peak-to-trough decline over the last 3 years was -100.0%, against -13.7% for DIVO.
  • Diversification. FEPI holds 50 positions and DIVO holds 30.
  • Size. DIVO is the larger fund with $8.0 billion in assets, against $715 million for FEPI.

Bottom line: DIVO fits better if you care most about lower fees, stronger 3-year returns and smaller drawdowns. FEPI fits better if you care most about more income today and broader diversification.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricDIVO
Amplify CWP Enhanced Dividend Income ETF
FEPI
REX FANG & Innovation Equity Premium Income ETF
Dividend yield (TTM)6.28%26.40%
Dividend / share (TTM)$3.02$10.94
Payout frequencyQuarterlyMonthly
Last dividend$0.1890 on Sep 30, 2026$0.2094 on Oct 15, 2026
Ex-dividend dateSep 29, 2026Oct 14, 2026
Dividend growth (CAGR)11.9% over 4 yrs—
Price$48.02$41.43
Dividend growth streak3 years—
Beta0.561.09
Max drawdown (5Y)-13.7%-100.0%
Market cap$8.01B$715.1M
ExchangeAMEXNASDAQ
Expense ratio0.56%0.65%
Assets under management$7.99B$714.6M
Number of holdings3050
Top 10 concentration—66.7%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

DIVO

$52.35/mo

$628 /yr at 6.28% yield

FEPI

$219.98/mo

$2640 /yr at 26.40% yield

Dividend history
Total dividends paid per share in each calendar year. DIVO pays quarterly; FEPI pays monthly.
YearDIVOFEPI
2025$2.8660$11.6079
2024$1.9013$13.4931
2023$1.7085—
2022$1.7074—
2021$1.8280—
Strategy: Options income
These funds own equities and sell call options against them, converting a share of future price appreciation into cash paid out now. How much upside is surrendered depends on the design: writing at the money on the whole portfolio pays the most and keeps the least, while writing on a partial slice or using purchased offsets keeps more of a rally. Distributions come mainly from option premium rather than from company dividends, so the headline yield is not comparable to a dividend fund's.

Payouts are variable rather than contractual, are often taxed as ordinary income, and a fund that pays out more than the strategy earns will see its net asset value drift down over time.

What DIVO vs FEPI actually do

DIVO
An actively managed ETF holding a concentrated set of blue-chip dividend payers with calls written selectively on individual positions.

The manager runs a hand-picked book of roughly 20 to 30 large-cap dividend stocks rather than tracking an index. Instead of keeping every position covered, calls are written tactically on single names, typically when a holding has run up or its implied volatility is elevated. That preserves far more upside than a blanket index overwrite, but it makes option income lumpy and puts the outcome on manager judgment rather than a published rule.

Suits an investor who wants dividend income lifted by option premium without surrendering most of the appreciation. Less suitable for anyone who wants a fully rules-based product, the lowest fee, or the highest available distribution rate.

Moderate income with growth

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 4, 2023 would now be worth $15,556 in DIVO and $14,073 in FEPI.
PeriodDIVOFEPI
1 month1.37%-2.95%
3 months3.58%1.94%
Year to date7.91%-9.05%
1 year8.28%-9.97%
3 years54.45%40.73%
5 years59.59%—
  • DIVO
  • FEPI
951311672023202420252026156141

Both series indexed to 100 on 2023-10-04 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • DIVO
  • FEPI
0%17%34%51%68%Technology17.9%67.5%Financial Services24.1%Communication Services4.7%19.3%Consumer Cyclical6.9%13.2%Industrials12.7%Healthcare12.1%Energy7.4%Consumer Defensive6.3%Basic Materials5.8%Utilities2.0%Other0.0%0.0%
Top 10 holdings
Largest positions by portfolio weight.

FEPI50 holdings total

NameWeight
AAPLAPPLE INC6.99%
NFLXNETFLIX INC6.94%
MSFTMICROSOFT CORP6.75%
AMZNAMAZON.COM INC6.72%
GOOGLALPHABET INC-CL A6.70%
TSLATesla Inc.6.61%
NVDANVIDIA CORP6.56%
MUMICRON TECHNOLOGY INC6.51%
METAMETA PLATFORMS INC6.47%
AVGOBroadcom Inc.6.42%

Quick verdict

DIVO fits better if you care most about lower fees, stronger 3-year returns and smaller drawdowns. FEPI fits better if you care most about more income today and broader diversification. Model the holding inside your real portfolio before deciding.

Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how DIVO vs FEPI fits with the rest of your holdings. Free to start — no credit card required for the trial.
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Frequently asked questions

Is DIVO or FEPI better for dividend income?
It depends on your goals. DIVO currently yields 6.28% Trailing Twelve Months (TTM) while FEPI yields 26.40%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between DIVO and FEPI?
Amplify CWP Enhanced Dividend Income ETF (DIVO) is an ETF listed on AMEX. REX FANG & Innovation Equity Premium Income ETF (FEPI) is an ETF listed on NASDAQ. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, DIVO or FEPI?
DIVO has the lower expense ratio. DIVO charges 0.56% a year and FEPI charges 0.65%, a difference of $9 a year on a $10,000 investment.
Which has performed better, DIVO or FEPI?
Over the last 3 years, DIVO has the higher total return with dividends reinvested: DIVO returned 54.5% and FEPI returned 40.7%. Past performance does not predict future returns.
Which is riskier, DIVO or FEPI?
Measured by the worst peak-to-trough decline over the last five years, FEPI has been riskier: DIVO fell as much as 13.7% and FEPI as much as 100.0%. Their betas are 0.56 and 1.09.
How often do DIVO and FEPI pay dividends?
DIVO pays quarterly and FEPI pays monthly.
How much income does $10,000 in DIVO vs FEPI generate?
At current TTM yields, $10,000 in DIVO would generate roughly $52.35 per month ($628 annually). The same amount in FEPI would produce about $219.98 per month ($2640 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both DIVO and FEPI?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare DIVO vs FEPI with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how DIVO and FEPI fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.