Data as of .
WEPN vs XLVI: which paid, and which earned it?
WEPN and XLVI both write options for income.
What they hold in common
By the books each fund has filed, WEPN and XLVI hold 0% of their money in the same securities at the same weight.
| Only in WEPN | Only in XLVI |
|---|---|
| Invesco DB Base Metals Fund 6.48% | STATE STREET HEALTH CARE SELEC 100.60% |
| AeroVironment Inc 5.72% | SSI US GOV MONEY MARKET CLASS 0.40% |
| Palo Alto Networks Inc 4.93% | STATE STREET HEALTH CARE SELEC OCT26 173 -0.02% |
| Crowdstrike Holdings Inc 4.82% | STATE STREET HEALTH CARE SELEC OCT26 170 -0.04% |
| VanEck Steel ETF 4.28% | STATE STREET HEALTH CARE SELEC OCT26 172 -0.93% |
| 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 Sep 17, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| WEPN | XLVI | WEPN | XLVI | WEPN | XLVI | |
| 3 months | +0.6% | +6.9% | 3.0% | 3.1% | +11.0 pts | −6.3 pts |
| 6 months | +1.1% | +12.2% | 6.2% | 6.4% | +4.9 pts | −4.6 pts |
| 1 year | not published | +17.9% | not published | 13.0% | not published | −6.7 pts |
| Since launch | −7.3% | +21.1% | 6.1% | 14.7% | +5.2 pts | −6.5 pts |
| WEPN Nicholas Defense and Rare Earth Income ETF Option income on ITA, paying weekly | XLVI State Street(R) Health Care Select Sector SPDR(R) Premium Income ETF Covered call on XLV, paying monthly | |
|---|---|---|
| Issuer | Nicholas | State Street |
| Strategy | option income | covered call |
| Benchmark | Aerospace and defense (ITA), used as the proxy | Health care sector (XLV) |
| Pays | weekly | monthly |
| Payout rate, annualized | 11.9% | 13.1% |
| Expense ratio | 1.11% | 0.35% |
| Cash paid, 1 year | 6.1% (since launch on Mar 3, 2026) | 13.0% |
| Price change, 1 year | −13.3% | +4.0% |
| Total return, 1 year | −7.3% (since launch on Mar 3, 2026) | +17.9% |
| Benchmark return, 1 year | −12.5% | +24.6% |
| Ahead or behind | +5.2 pts | −6.7 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 199 days | 415 days |
| Net assets | $6m | $27m |
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.
XLVI in plain words
Over the year to Sep 18, 2026, XLVI paid 13.0% of its starting value in cash distributions while its price rose 4.0%. With every distribution reinvested, the fund returned +17.9%. Health care sector (XLV) returned +24.6% over the same days, so a holder was behind by 6.7 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 13.1%, paid monthly.
Questions people ask
- Which is cheaper, WEPN or XLVI?
- WEPN charges 1.11% a year and XLVI charges 0.35%, so XLVI 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, WEPN against XLVI, data as of Sep 18, 2026. https://etfiq.com/compare/income/wepn-vs-xlvi Free to use with attribution; the underlying files are at Open data.