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The REX FANG & Innovation Equity Premium Income ETF, or FEPI, utilizes a covered call strategy designed to achieve two main goals: generating income and providing exposure to potential growth within the technology sector. The fund accomplishes this by maintaining positions in the stocks comprising its benchmark, the Solactive FANG Innovation Index, and simultaneously selling call options on these shares that are slightly out-of-the-money. This approach leverages the significant volatility often found in major technology companies, thereby earning premium income from the options. However, it also means that some of the potential upside from stock appreciation is capped. An additional benefit is a modest safeguard against drops in stock prices. It's important to recognize, though, that this protective buffer is confined to the option premiums received and may not completely negate substantial declines in the underlying securities. The fund's benchmark is an equally weighted index made up of fifteen U.S. technology firms. Eight of these are considered foundational holdings: Apple, Alphabet, Amazon, Meta, Microsoft, Netflix, Nvidia, and Tesla. The other seven companies are chosen quarterly from a diverse range of Factset technology-related industries, based on their trading volumes.
| Symbol | Name | Weight | Market Value |
|---|---|---|---|
| INTC | INTEL CORP | 7.92% | $47.26M |
| AMD | ADVANCED MICRO DEVICES INC | 7.47% | $44.58M |
| NFLX | NETFLIX INC | 6.92% | $41.29M |
| AVGO | Broadcom Inc. | 6.88% | $41.05M |
| AMZN | AMAZON.COM INC | 6.64% | $39.63M |
| AAPL | APPLE INC | 6.62% | $39.50M |
| GOOGL | ALPHABET INC-CL A | 6.56% | $39.13M |
| NVDA | NVIDIA CORP | 6.46% | $38.51M |
| PLTR | PALANTIR TECHNOLOGIES INC. CLASS A | 6.41% | $38.20M |
| MSFT | MICROSOFT CORP | 6.20% | $36.97M |
| ORCL | ORACLE CORP | 6.14% | $36.65M |
| META | META PLATFORMS INC | 6.11% | $36.47M |
| APP | APPLOVIN CORP | 5.93% | $35.39M |
| TSLA | Tesla Inc. | 5.77% | $34.41M |
| MU | MICRON TECHNOLOGY INC | 5.47% | $32.64M |
| — | CASH AND CASH EQUIVALENTS | 3.45% | $20.55M |
| TBILL | TREASURY BILL | 2.00% | $11.92M |
| — | MSFT US 04/17/25 C410 | 0.00% | $-55 |
| — | META US 04/17/26 C620 | 0.00% | $-374 |
| — | TSLA US 04/17/26 C380 | 0.00% | $-411 |
| — | GOOGL US 04/17/26 C325 | 0.00% | $-492 |
| — | MSFT US 04/17/26 C400 | 0.00% | $-612 |
| — | GOOGL US 04/17/26 C320 | 0.00% | $-800 |
| — | AAPL US 04/17/26 C265 | 0.00% | $-808 |
| — | AAPL US 04/17/26 C270 | 0.00% | $-1.92K |