FEPI Dividend Calculator
First Trust S&P 500 Enhanced Premium Income ETF — Project your returns with dividend reinvestment (DRIP). Current yield: 27.67% (monthly).
FEPI uses a covered call strategy to generate income. The fund holds a portfolio of stocks (or tracks an index) and systematically sells call options against those holdings. The premiums collected from selling these options are the primary source of the fund's distributions.
FEPI Dividend History
| Ex-Date | Amount | Change | Yield |
|---|---|---|---|
| Mar 25, 2026 | $0.8675 | -1.8% | 25.39% |
| Feb 25, 2026 | $0.8833 | -7.5% | 25.85% |
| Jan 28, 2026 | $0.9549 | -2.9% | 27.95% |
| Dec 24, 2025 | $0.9836 | +2.6% | 28.79% |
| Nov 25, 2025 | $0.9589 | -7.9% | 28.06% |
| Oct 29, 2025 | $1.0406 | +4.4% | 30.46% |
| Sep 24, 2025 | $0.9971 | +2.2% | 29.18% |
| Aug 27, 2025 | $0.9752 | +0.5% | 28.54% |
| Jul 23, 2025 | $0.9706 | +0.9% | 28.41% |
| Jun 25, 2025 | $0.9622 | +3.9% | 28.16% |
How FEPI generates income
FEPI uses a covered call strategy to generate income. The fund holds a portfolio of stocks (or tracks an index) and systematically sells call options against those holdings. The premiums collected from selling these options are the primary source of the fund's distributions.
When the market is flat or mildly bullish, covered-call funds perform well — you collect the option premium on top of any dividends from the underlying holdings. When the market rallies strongly, your gains are capped at the strike price of the sold calls. This is the fundamental trade-off of covered-call strategies: steady income in exchange for capped upside.
FEPI is issued by First Trust and has been one of the established players in the covered-call ETF space. Compared to YieldMax's single-stock approach, FEPI writes options on a broader index, which results in lower but more stable distributions.