Data as of .
AIPI vs WEPN: which paid, and which earned it?
AIPI and WEPN both write options for income.
What they hold in common
By the books each fund has filed, AIPI and WEPN hold 12% of their money in the same securities at the same weight.
| Holding | AIPI | WEPN |
|---|---|---|
| CROWDSTRIKE HOLDINGS, INC. | 11.93% | 4.82% |
| PALANTIR TECHNOLOGIES INC. | 8.40% | 3.99% |
| PALO ALTO NETWORKS, INC. | 3.61% | 4.93% |
| Only in AIPI | Only in WEPN |
|---|---|
| NVIDIA CORPORATION 8.23% | Invesco DB Base Metals Fund 6.48% |
| Astera Labs, Inc 7.20% | AeroVironment Inc 5.72% |
| DATADOG, INC. 6.65% | VanEck Steel ETF 4.28% |
| MICRON TECHNOLOGY, INC. 4.15% | BWX Technologies Inc 4.14% |
| SUPER MICRO COMPUTER, INC. 3.95% | Ondas Inc 4.02% |
| IONQ Inc 3.62% | General Dynamics Corp 3.92% |
| ADVANCED MICRO DEVICES, INC. 3.32% | Global X Lithium & Battery Tec 3.66% |
| QUALCOMM INCORPORATED 3.29% | abrdn Physical Platinum Shares ETF 3.58% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026 and May 31, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| AIPI | WEPN | AIPI | WEPN | AIPI | WEPN | |
| 3 months | +7.7% | +0.6% | 8.4% | 3.0% | +11.7 pts | +11.0 pts |
| 6 months | +24.6% | +1.1% | 17.8% | 6.2% | −10.8 pts | +4.9 pts |
| 1 year | +22.2% | not published | 31.3% | not published | −9.4 pts | not published |
| Since launch | +56.1% | −7.3% | 64.2% | 6.1% | −35.1 pts | +5.2 pts |
| AIPI REX AI EQUITY PREMIUM INCOME ETF Covered call on AIQ, paying weekly | WEPN Nicholas Defense and Rare Earth Income ETF Option income on ITA, paying weekly | |
|---|---|---|
| Issuer | REX | Nicholas |
| Strategy | covered call | option income |
| Benchmark | AI and technology (AIQ), used as the AI proxy | Aerospace and defense (ITA), used as the proxy |
| Pays | weekly | weekly |
| Payout rate, annualized | 34.4% | 11.9% |
| Expense ratio | 0.65% | 1.11% |
| Cash paid, 1 year | 31.3% | 6.1% (since launch on Mar 3, 2026) |
| Price change, 1 year | −13.8% | −13.3% |
| Total return, 1 year | +22.2% | −7.3% (since launch on Mar 3, 2026) |
| Benchmark return, 1 year | +31.6% | −12.5% |
| Ahead or behind | −9.4 pts | +5.2 pts |
| Return of capital, latest estimate | 100% | not published |
| Age | 836 days | 199 days |
| Net assets | $465m | $6m |
AIPI in plain words
Over the year to Sep 18, 2026, AIPI paid 31.3% of its starting value in cash distributions while its price fell 13.8%. With every distribution reinvested, the fund returned +22.2%. AI and technology (AIQ), used as the AI proxy returned +31.6% over the same days, so a holder was behind by 9.4 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 34.4%, paid weekly. REX estimates that 100% of the distribution paid was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
WEPN in plain words
Over the period since launch on Mar 3, 2026 to Sep 18, 2026, WEPN paid 6.1% of its starting value in cash distributions while its price fell 13.3%. With every distribution reinvested, the fund returned −7.3%. Aerospace and defense (ITA), used as the proxy returned −12.5% over the same days, so a holder was ahead by 5.2 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 11.9%, paid weekly.
Questions people ask
- Which is cheaper, AIPI or WEPN?
- AIPI charges 0.65% a year and WEPN charges 1.11%, so AIPI is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, AIPI against WEPN, data as of Sep 18, 2026. https://etfiq.com/compare/income/aipi-vs-wepn Free to use with attribution; the underlying files are at Open data.