WEPN ETF — Nicholas Defense and Rare Earth Income ETF

Nicholas Defense and Rare Earth Income ETF (WEPN)

WEPN is an ETF that tracks the Defense and Rare Earths. As of August 19, 2026, its distribution rate is 12.17%, its trailing-12-month yield is 5.56%, its expense ratio is 1.11%. Dividend Vision Distribution Safety Score™ is 46/100 (Caution). Fund total return is -0.9% over the past 0.5 years, 14.3 points behind SPY at 13.4%.

At the current 12.17% distribution rate, a $10,000 investment would generate approximately $1,217 per year, or $101.42 per month on an equivalent basis. Actual weekly payments vary.

WEPN performance versus SPY

Data as of August 19, 2026.

Fund total return is -0.9% over the past 0.5 years, 14.3 points behind SPY at 13.4%.

WEPN key facts

Data as of August 19, 2026.

Distribution Safety Score™

46 · Caution

Issuer

Nicholas Wealth Management

Asset type

ETF

Asset class

Equity

Inception date

03/03/2026

Expense ratio

1.11%

Distribution rate

12.17%

Distribution frequency

Weekly

Trailing yield

5.56%

Last close

$46.13

AUM

$7,010,607

Average volume

1550.0

Last dividend

$0.1080

Ex-dividend date

08/18/2026

Payment date

08/19/2026

Beta

0.0

P/E ratio

33.6195

How Dividend Vision calculates yield and returns

Distribution rate (12.17%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (5.56%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 19, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of August 19, 2026.

Primary sources: Nicholas Wealth Management fund page; Index: Defense and Rare Earths; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

WEPN risks and drawbacks

Payments are weekly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window.

Who may consider WEPN — and who may not

It is a weaker fit for investors who need monthly cash flow (WEPN pays weekly); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

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