Data as of Nov 4, 2026.
WEPN vs XLBI: Dividend Yield & Total Return
WEPN and XLBI both write options for income.
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Net assets: $6.1m on Jul 31, 2026 for Nicholas Defense and Rare Earth Income ETF, and $9.4m on Nov 2, 2026 for State Street Materials Select Sector SPDR Premium Income ETF.
Not measured
WEPN since launch: paid 7.4%, price −24.4%, total −17.8%, not measured against a benchmark. Data to Nov 4, 2026.
WEPN
−17.8%
Total return, distributions reinvested
Not measured
WEPN since launch: paid 7.4%, price −24.4%, total −17.8%, not measured against a benchmark. Data to Nov 4, 2026.
WEPN
−17.8%
7.4% of it arrived as cash. Total return, distributions reinvested. WEPN since launch: paid 7.4%, price −24.4%, total −17.8%, not measured against a benchmark. Data to Nov 4, 2026.
Data to Nov 4, 2026.11 pts behind XLB
XLBI over 1 year: paid 15.9%, price +1.6%, total +18.5%, XLB +29.5%, −11.0 pts. Data to Nov 4, 2026.
XLB
+29.5%
XLBI
+18.5%
15.9% of it arrived as cash
11 pts behind XLB
Total return, distributions reinvested
11 pts behind XLB
XLBI over 1 year: paid 15.9%, price +1.6%, total +18.5%, XLB +29.5%, −11.0 pts. Data to Nov 4, 2026.
XLB
+29.5%
XLBI
+18.5%
11 pts behind XLB
15.9% of it arrived as cash. Both charts share one scale, with zero at the line. XLBI over 1 year: paid 15.9%, price +1.6%, total +18.5%, XLB +29.5%, −11.0 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
XLBI costs 0.76 points a year less.
Points (pts) are percentage points.
| Measure | WEPN | XLBI |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | not published | +18.5% |
| Price change | fell 16.9% (6 months) | rose 1.6% (1 year) |
| Return of capital, issuer estimate | 100% of the Oct 28, 2026 payment | 100% of the Nov 5, 2026 payment |
| Against its benchmark | ||
| Benchmark | its own holdings | Materials, measured through XLB |
| Against its benchmark, same days | behind by 5.9 pts | behind by 11.0 pts |
| Cost and size | ||
| Expense ratio | 1.11% | 0.35% |
| Net assets, WEPN as of Jul 31, 2026 and XLBI as of Nov 2, 2026 | $6.1m | $9.4m |
| Holdings | ||
| Holdings in common | 0% | |
What they share
By the books each fund has filed, WEPN and XLBI hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.
half
0% in common
Only in one fund ↓
Side by side
As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.
Window by window
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | WEPN | XLBI | WEPN | XLBI | WEPN | XLBI |
| 3 months | −12.2% | +0.8% | 2.9% | 3.6% | −4.0 pts | −2.0 pts |
| 6 months | −11.8% | +3.4% | 5.8% | 6.7% | −5.9 pts | −0.3 pts |
| 1 year | – | +18.5% | – | 15.9% | – | −11.0 pts |
| Since launchNot the same days: WEPN Mar 2026 · XLBI Jul 2025 | −17.8% | +16.4% | 7.4% | 18.9% | not measured | −7.7 pts |
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WEPN's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Jul 31, 2026) returned −5.9% over the same days, so a holder was behind by 5.9 pts.
Over the 6 months to Nov 4, 2026, WEPN paid 5.8% of its starting value in cash distributions while its price fell 16.9%. With every distribution reinvested, the fund returned −11.8%. At its price on Nov 4, 2026 the latest distribution annualizes to 13.1%, paid weekly. Nicholas estimates that 100% of the distribution paid Oct 28, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
XLBI
Over the year to Nov 4, 2026, XLBI paid 15.9% of its starting value in cash distributions while its price rose 1.6%. With every distribution reinvested, the fund returned +18.5%. Materials (XLB) returned +29.5% over the same days, so a holder was behind by 11.0 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 17.2%, paid monthly. State Street estimates that 100% of the distribution paid Nov 5, 2026 was a return of capital (its 19a-1 notice).
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, WEPN against XLBI, data as of Nov 4, 2026. https://etfiq.com/compare/income/wepn-vs-xlbi
ETFIQ. (Nov 4, 2026). WEPN against XLBI. Retrieved from https://etfiq.com/compare/income/wepn-vs-xlbi
[WEPN against XLBI (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/wepn-vs-xlbi)
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