Data as of .
SEMY vs WEPN: which paid, and which earned it?
SEMY and WEPN both write options for income.
What they hold in common
By the books each fund has filed, SEMY and WEPN hold 0% of their money in the same securities at the same weight.
| Only in SEMY | Only in WEPN |
|---|---|
| Treasury Bill 50.64% | Invesco DB Base Metals Fund 6.48% |
| Treasury Bill 49.36% | AeroVironment Inc 5.72% |
| Palo Alto Networks Inc 4.93% | |
| Crowdstrike Holdings Inc 4.82% | |
| VanEck Steel ETF 4.28% | |
| BWX Technologies Inc 4.14% | |
| Ondas Inc 4.02% | |
| 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 Jun 30, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| SEMY | WEPN | SEMY | WEPN | SEMY | WEPN | |
| 3 months | −4.8% | +0.6% | 17.4% | 3.0% | +8.4 pts | +11.0 pts |
| 6 months | +17.5% | +1.1% | 43.7% | 6.2% | −31.4 pts | +4.9 pts |
| Since launch | +33.9% | −7.3% | 71.5% | 6.1% | −38.5 pts | +5.2 pts |
| SEMY GraniteShares YieldBOOST Semiconductor ETF Synthetic covered call on SMH, paying weekly | WEPN Nicholas Defense and Rare Earth Income ETF Option income on ITA, paying weekly | |
|---|---|---|
| Issuer | GraniteShares | Nicholas |
| Strategy | synthetic covered call | option income |
| Benchmark | Semiconductors (SMH) | Aerospace and defense (ITA), used as the proxy |
| Pays | weekly | weekly |
| Payout rate, annualized | 67.3% | 11.9% |
| Expense ratio | 1.07% | 1.11% |
| Cash paid, 1 year | 71.5% (since launch on Nov 18, 2025) | 6.1% (since launch on Mar 3, 2026) |
| Price change, 1 year | −48.7% | −13.3% |
| Total return, 1 year | +33.9% (since launch on Nov 18, 2025) | −7.3% (since launch on Mar 3, 2026) |
| Benchmark return, 1 year | +72.5% | −12.5% |
| Ahead or behind | −38.5 pts | +5.2 pts |
| Return of capital, latest estimate | 98% | not published |
| Age | 304 days | 199 days |
| Net assets | $50m | $6m |
SEMY in plain words
Over the period since launch on Nov 18, 2025 to Sep 18, 2026, SEMY paid 71.5% of its starting value in cash distributions while its price fell 48.7%. With every distribution reinvested, the fund returned +33.9%. Semiconductors (SMH) returned +72.5% over the same days, so a holder was behind by 38.5 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 67.3%, paid weekly. GraniteShares estimates that 98% of the distribution paid Aug 25, 2026 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, SEMY or WEPN?
- SEMY charges 1.07% a year and WEPN charges 1.11%, so SEMY 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, SEMY against WEPN, data as of Sep 18, 2026. https://etfiq.com/compare/income/semy-vs-wepn Free to use with attribution; the underlying files are at Open data.