FEPI vs SIOO

FEPIBREX FANG & Innovation Equity Premium Income ETF

SIOOAVistaShares Target 15 S&P 100 Distribution ETF

In short

FEPI Most option-income ETFs sell calls on the S&P 500. FEPI runs the same playbook on roughly 60 FANG and innovation names, pairing concentrated big-tech exposure with monthly premium income, and it charges less than the typical fund in its group.

SIOO Most equity-income ETFs pay out whatever the options market hands them. SIOO starts from the answer: a 15% annual income target, paid monthly, bolted onto an S&P 100 core using index options that carry 60/40 tax treatment.

Stated mandate

FEPI The Fund seeks capital appreciation and current income.

SIOO The actively managed ETF seeks income and, secondarily, long-term capital appreciation. It combines equity exposure based on the S&P 100 Index (OEX) with an options portfolio intended to generate income.

Why people hold it

• FEPI 0.65% a year, under the 0.75% median for option-income index overlays.
• The call writing sits on the Solactive FANG Innovation Index, roughly 60 tech and innovation names, not a broad benchmark. Focused by design.
• Distributions land monthly, on a schedule rather than in lumps.
• One of the stronger implementations among the option-income overlay funds we cover.

• SIOO 0.59% expense ratio, below the 0.75% typical for options-income funds. Modest toll for an actively managed overlay.
• The overlay uses S&P 100 (OEX) index options, section 1256 contracts taxed at blended 60/40 rates, and the manager also hunts tax-loss harvesting in the equity sleeve.vistashares.com
• You keep the stocks. The equity sleeve generally mirrors the S&P 100's mega-cap roster, with the income machinery layered on top rather than replacing it.vistashares.com
• The payout target is stated up front: 15% a year, distributed monthly. A published yardstick you can hold the fund to, rather than a mystery yield.vistashares.com

Worth knowing

• FEPI Premium income is paid for with upside. Selling calls on the holdings means a runaway tech rally leaves some of the gain on the table.
• Roughly 60 US tech names is a narrow slice of the market, and payouts float with options premiums, so the monthly amount moves around.
• Launched in 2023, so its track record is shorter than the older overlay funds it competes with, like LQDW and YLDE.

• SIOO 15% is a target, not a coupon. Distributions can include return of capital, which sends part of your own principal back and trims net asset value.vistashares.com
• Income comes from an actively managed options book, so the outcome rides on manager decisions and options pricing instead of a fixed dividend stream.
• Launched in December 2025 and still a small, lightly traded fund. Short history and wider bid-ask spreads come with that territory.

Full FEPI profile⁠

Full SIOO profile⁠