Which is cheaper, WEPN or XLSI?

WEPN charges 1.11% a year and XLSI charges 0.35%, so XLSI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

WEPN vs XLSI: Dividend Yield & Total Return

WEPN and XLSI 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 $25m on Nov 3, 2026 for State Street Consumer Staples Select Sector SPDR Premium Income ETF.

WEPN on its own →XLSI on its own →

At a glance

7.4%

WEPN cash paid, since launch, Mar 3, 2026

12.5%

XLSI cash paid, 1 year

−17.8%

WEPN total return, since launch, Mar 3, 2026

+16.3%

XLSI total return, 1 year

WEPN · since launch to Nov 4, 2026 Not measured

WEPN

−17.8%

none

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.

XLSI · 1 year to Nov 4, 2026 8 pts behind XLP

XLSI

+16.3%

XLP

+24.3%

8 pts behind XLP

XLSI over 1 year: paid 12.5%, price +2.7%, total +16.3%, XLP +24.3%, −8.0 pts. Data to Nov 4, 2026.

XLP

+24.3%

XLSI

+16.3%

12.5% as cash

8 pts behind XLP

Total return, distributions reinvested

8 pts behind XLP

XLSI over 1 year: paid 12.5%, price +2.7%, total +16.3%, XLP +24.3%, −8.0 pts. Data to Nov 4, 2026.

XLP

+24.3%

XLSI

+16.3%

8 pts behind XLP

12.5% of it arrived as cash. Both charts share one scale, with zero at the line. XLSI over 1 year: paid 12.5%, price +2.7%, total +16.3%, XLP +24.3%, −8.0 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

XLSI costs 0.76 points a year less.

Points (pts) are percentage points.

WEPN vs XLSI: Dividend Yield & Total Return
Measure	WEPN	XLSI
Paid and earned
Measure	WEPN	XLSI
Total return, 1 year	not published	+16.3%
Price change	fell 16.9% (6 months)	rose 2.7% (1 year)
Return of capital, issuer estimate	100% of the Oct 28, 2026 payment	100% of the Nov 5, 2026 payment
Against its benchmark
Measure	WEPN	XLSI
Benchmark	its own holdings	State Street Consumer Staples Select Sector SPDR ETF, measured through XLP
Against its benchmark, same days	behind by 5.9 pts	behind by 8.0 pts
Cost and size
Measure	WEPN	XLSI
Expense ratio	1.11%	0.35%
Net assets, WEPN as of Jul 31, 2026 and XLSI as of Nov 3, 2026	$6.1m	$25m
Holdings
Measure	WEPN	XLSI
Holdings in common	0%

Method

What they share

By the books each fund has filed, WEPN and XLSI hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first WEPN XLSI

Only in one fund ↓

Only in WEPN

Palo Alto Networks Inc 9.96%

Crowdstrike Holdings Inc 8.97%

Invesco DB Base Metals Fund 7.15%

SPACEX 6.32%

VanEck Steel ETF 4.75%

RTX Corp 4.58%

Axon Enterprise Inc 4.17%

Lockheed Martin Corp 3.86%

Only in XLSI

STATE STREET CONSUMER STAPLES 102.28%

STATE STREET CONSUMER STAPLES NOV26 93 CALL -0.02%

STATE STREET CONSUMER STAPLES NOV26 88.5 CALL -0.02%

STATE STREET CONSUMER STAPLES NOV26 91.5 CALL -0.02%

STATE STREET CONSUMER STAPLES NOV26 92 CALL -0.03%

STATE STREET CONSUMER STAPLES NOV26 90 CALL -0.04%

STATE STREET CONSUMER STAPLES NOV26 88 CALL -2.19%

Check overlap with more funds →

Side by side

WEPN Nicholas Defense and Rare Earth Income ETF · Option income on its own holdings, paying weekly XLSI State Street Consumer Staples Select Sector SPDR Premium Income ETF · Covered call on XLP, paying monthly

Issuer Nicholas State Street

Strategy option income covered call

Benchmark WEPN's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Jul 31, 2026) State Street Consumer Staples Select Sector SPDR ETF (XLP)

Pays weekly monthly

Payout rate, annualized 13.1% 10.8%

Expense ratio 1.11% 0.35%

Cash paid, 1 year 7.4% (since launch, Mar 3, 2026) 12.5%

Price change, 1 year −24.4% (since launch, Mar 3, 2026) +2.7%

Total return, 1 year −17.8% (since launch, Mar 3, 2026) +16.3%

Benchmark return, 1 year not published +24.3%

Ahead or behind not available −8.0 pts

Return of capital, latest estimate 100% 100%

Age 246 days 1.3 years

Net assets, WEPN as of Jul 31, 2026 and XLSI as of Nov 3, 2026 $6.1m $25m

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

Window by window: WEPN vs XLSI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	WEPN	XLSI	WEPN	XLSI	WEPN	XLSI
3 months	−12.2%	+5.1%	2.9%	3.0%	−4.0 pts	−3.3 pts
6 months	−11.8%	+8.5%	5.8%	6.2%	−5.9 pts	−2.1 pts
1 year	–	+16.3%	–	12.5%	–	−8.1 pts
Since launchNot the same days: WEPN Mar 2026 · XLSI Jul 2025	−17.8%	+12.1%	7.4%	14.9%	not measured	−6.1 pts

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Alert

About each fund

WEPN

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.

XLSI

Over the year to Nov 4, 2026, XLSI paid 12.5% of its starting value in cash distributions while its price rose 2.7%. With every distribution reinvested, the fund returned +16.3%. State Street Consumer Staples Select Sector SPDR ETF (XLP) returned +24.3% over the same days, so a holder was behind by 8.0 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 10.8%, 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

Which is cheaper, WEPN or XLSI?: WEPN charges 1.11% a year and XLSI charges 0.35%, so XLSI is cheaper. Fees come from each fund's prospectus.

Other comparisons

WEPN vs XLKI WEPN vs NUKX WEPN vs YRAM WEPN vs XLCI XLSI vs EIPI XLSI vs NUKX XLSI vs XLCI XLSI vs BIOY

Where to next

State Street Consumer Staples Select Sector SPDR ETF (XLP) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →WEPN on its own →XLSI on its own →WEPN dividend history →WEPN holdings →XLSI dividend history →XLSI holdings →Method →Standards and sources →

Sources and dates

WEPN filings on SEC EDGAR ↗

WEPN prospectus with the expense ratio (SEC) ↗

WEPN 19a-1 distribution notice ↗

Nicholas website ↗

XLSI filings on SEC EDGAR ↗

XLSI prospectus with the expense ratio (SEC) ↗

XLSI 19a-1 distribution notice ↗

State Street website ↗

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 XLSI, data as of Nov 4, 2026. https://etfiq.com/compare/income/wepn-vs-xlsi

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.