Data as of .
MDST vs WEPN: which paid, and which earned it?
MDST and WEPN both write options for income.
What they hold in common
By the books each fund has filed, MDST and WEPN hold 0% of their money in the same securities at the same weight.
| Only in MDST | Only in WEPN |
|---|---|
| ENERGY TRANSFER LP 8.97% | Invesco DB Base Metals Fund 6.48% |
| ENBRIDGE INC 8.79% | AeroVironment Inc 5.72% |
| WILLIAMS COMPANIES INC (THE) 8.61% | Palo Alto Networks Inc 4.93% |
| ENTERPRISE PRODUCTS PARTNERS LP 6.87% | Crowdstrike Holdings Inc 4.82% |
| DT MIDSTREAM INC 6.43% | VanEck Steel ETF 4.28% |
| KINDER MORGAN INC 5.64% | BWX Technologies Inc 4.14% |
| CHENIERE ENERGY INC 5.05% | Ondas Inc 4.02% |
| ONEOK INC 5.00% | 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.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| MDST | WEPN | MDST | WEPN | MDST | WEPN | |
| 3 months | +4.6% | +0.6% | 2.4% | 3.0% | −15.9 pts | +11.0 pts |
| 6 months | +5.8% | +1.1% | 4.7% | 6.2% | −4.2 pts | +4.9 pts |
| 1 year | +19.2% | not published | 10.0% | not published | −28.6 pts | not published |
| Since launch | +48.9% | −7.3% | 26.1% | 6.1% | +7.3 pts | +5.2 pts |
| MDST Westwood Salient Enhanced Midstream Income ETF Option income on XLE, paying monthly | WEPN Nicholas Defense and Rare Earth Income ETF Option income on ITA, paying weekly | |
|---|---|---|
| Issuer | Westwood | Nicholas |
| Strategy | option income | 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 | 9.3% | 11.9% |
| Expense ratio | 0.80% | 1.11% |
| Cash paid, 1 year | 10.0% | 6.1% (since launch on Mar 3, 2026) |
| Price change, 1 year | +8.2% | −13.3% |
| Total return, 1 year | +19.2% | −7.3% (since launch on Mar 3, 2026) |
| Benchmark return, 1 year | +47.8% | −12.5% |
| Ahead or behind | −28.6 pts | +5.2 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 892 days | 199 days |
| Net assets | $247m | $6m |
MDST in plain words
Over the year to Sep 18, 2026, MDST paid 10.0% of its starting value in cash distributions while its price rose 8.2%. With every distribution reinvested, the fund returned +19.2%. Energy sector (XLE), used as the energy proxy returned +47.8% over the same days, so a holder was behind by 28.6 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 9.3%, 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, MDST or WEPN?
- MDST charges 0.80% a year and WEPN charges 1.11%, so MDST 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, MDST against WEPN, data as of Sep 18, 2026. https://etfiq.com/compare/income/mdst-vs-wepn Free to use with attribution; the underlying files are at Open data.