Data as of .
EIPI vs WEPN: which paid, and which earned it?
EIPI and WEPN both write options for income.
What they hold in common
By the books each fund has filed, EIPI and WEPN hold 0% of their money in the same securities at the same weight.
| Only in EIPI | Only in WEPN |
|---|---|
| Enterprise Products Partners L.P. 8.76% | Invesco DB Base Metals Fund 6.48% |
| Energy Transfer LP 6.86% | AeroVironment Inc 5.72% |
| MPLX LP 4.67% | Palo Alto Networks Inc 4.93% |
| Kinder Morgan, Inc. 3.88% | Crowdstrike Holdings Inc 4.82% |
| ExxonMobil Holdings Corp. 3.50% | VanEck Steel ETF 4.28% |
| ONEOK, Inc. 3.12% | BWX Technologies Inc 4.14% |
| US Dollar 2.97% | Ondas Inc 4.02% |
| Shell plc (ADR) 2.90% | Palantir Technologies Inc 3.99% |
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 Sep 18, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| EIPI | WEPN | EIPI | WEPN | EIPI | WEPN | |
| 3 months | +5.1% | +0.6% | 1.7% | 3.0% | −15.4 pts | +11.0 pts |
| 6 months | +4.1% | +1.1% | 3.4% | 6.2% | −5.8 pts | +4.9 pts |
| 1 year | +21.1% | not published | 7.6% | not published | −26.8 pts | not published |
| Since launch | +49.1% | −7.3% | 22.6% | 6.1% | +1.2 pts | +5.2 pts |
| EIPI FT Energy Income Partners Enhanced Income ETF Covered call on XLE, paying monthly | WEPN Nicholas Defense and Rare Earth Income ETF Option income on ITA, paying weekly | |
|---|---|---|
| Issuer | First Trust | Nicholas |
| Strategy | covered call | option income |
| Benchmark | Energy sector (XLE), used as the energy proxy | Aerospace and defense (ITA), used as the proxy |
| Pays | monthly | weekly |
| Payout rate, annualized | 6.7% | 11.9% |
| Expense ratio | 1.11% | 1.11% |
| Cash paid, 1 year | 7.6% | 6.1% (since launch on Mar 3, 2026) |
| Price change, 1 year | +12.8% | −13.3% |
| Total return, 1 year | +21.1% | −7.3% (since launch on Mar 3, 2026) |
| Benchmark return, 1 year | +47.8% | −12.5% |
| Ahead or behind | −26.8 pts | +5.2 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 865 days | 199 days |
| Net assets | $1.1bn | $6m |
EIPI in plain words
Over the year to Sep 18, 2026, EIPI paid 7.6% of its starting value in cash distributions while its price rose 12.8%. With every distribution reinvested, the fund returned +21.1%. Energy sector (XLE), used as the energy proxy returned +47.8% over the same days, so a holder was behind by 26.8 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 6.7%, paid monthly.
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, EIPI or WEPN?
- EIPI charges 1.11% a year and WEPN charges 1.11%, so EIPI 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, EIPI against WEPN, data as of Sep 18, 2026. https://etfiq.com/compare/income/eipi-vs-wepn Free to use with attribution; the underlying files are at Open data.