REX IncomeMax Option Strategy ETF
$7.13−0.04 (−0.62%)
- Expense ratio
- 1.32%
- Fund size
- $19M
- 1Y return
- —
- Yield · Last 12 months
- Data unavailable
- Holdings
- 56
- Volume · 30D
- 0.1M sh
- NAV per share
- $6.59
- 52W range
The ETF.net ULTI Grade
Score 19 of 100 sits in the F band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 8Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.FScore 4Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 36Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 34Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 51Category rank
Our read on ULTI
FREX's IncomeMax overlay writes options across a basket of roughly 80 US-listed stocks, income first. Its own prospectus says the quiet part out loud: the options strategy limits how much of the upside you keep.
The fund seeks current income and exposure to the share prices of selected U.S.-listed securities, while limiting potential investment gains through its options strategy.
Why people hold it
- Income is the whole mandate, not a side effect: an active options overlay on a basket of roughly 80 US-listed stocks, with distributions set on a weekly schedule in the prospectus.
- Writing options across dozens of underlying names spreads the strategy over a basket, so no single stock carries the payout the way it does in single-stock income funds.
- Actively managed: a manager sets the option positions instead of an index formula running the same trades on autopilot.
Worth knowing
- The 1.32% expense ratio sits at the pricey end of option-income ETFs. Category leaders like PAPI and DIVO charge a fraction of that for their own premium-income strategies.
- Capped upside is the deal, in writing: the prospectus states the options strategy limits potential gains in exchange for current income.
- Launched in late 2025, so there is little history showing how the overlay behaves across a full market cycle.
ULTI Holdings
- Stocks
- 56
- 62%
- Cash & Other
Geography
ULTI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 18, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | ULTI |
|---|---|
| Year to date | −16.6% |
| 1 month | +2.5% |
| 3 months | −34.9% |
| 1 year | — |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | ULTI |
|---|---|---|
| 2026 YTD | −16.6% | |
| 2025 | −38.2% |
ULTI in the news
ETF.net Research hasn’t filed on ULTI yet — coverage lands here as it’s written.
ULTI Dividends
- $0.08 per share
- Weekly
Distribution data unavailable.
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 17, 2026 | Sep 18, 2026 | $0.08 |
| Sep 10, 2026 | Sep 11, 2026 | $0.09 |
| Sep 3, 2026 | Sep 4, 2026 | $0.09 |
| Aug 27, 2026 | Aug 28, 2026 | $0.10 |
| Aug 20, 2026 | Aug 21, 2026 | $0.10 |
| Aug 13, 2026 | Aug 14, 2026 | $0.10 |
| Aug 6, 2026 | Aug 7, 2026 | $0.10 |
| Jul 30, 2026 | Jul 31, 2026 | $0.09 |
| Jul 23, 2026 | Jul 24, 2026 | $0.11 |
| Jul 16, 2026 | Jul 17, 2026 | $0.12 |
| Jul 9, 2026 | Jul 10, 2026 | $0.13 |
| Jul 1, 2026 | Jul 2, 2026 | $0.16 |
ULTI Risk
- —
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- —
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- —
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.88
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
ULTI Cost
- The middle half of Active Option Income funds
- Median 0.95%
43 of the 47 Active Option Income funds charge less.