WEPN ETF — Nicholas Defense and Rare Earth Income ETF

Nicholas Defense and Rare Earth Income ETF (WEPN)

Updated October 2, 2026.

WEPN is an ETF linked to Defense and Rare Earths. its distribution rate is 12.27%, its trailing-12-month yield is 7.56%, its expense ratio is 1.11%. Dividend Vision Distribution Safety Score™ is 52/100 (Caution). Total return is -8.3% over the past 0.6 years, 22.3 points behind SPY at 14.0%.

At the current 12.27% distribution rate, a $10,000 investment would generate approximately $1,227 per year. Actual weekly payments vary.

WEPN performance versus SPY

Price and return data through 2026-10-02.

Total return is -8.3% over the past 0.6 years, 22.3 points behind SPY at 14.0%.

WEPN key facts

Distribution Safety Score™

52 · Caution

Safety-Adjusted Yield

6.38%

Issuer

Nicholas Wealth Management

Asset type

ETF

Asset class

Equity

Inception date

03/03/2026

Expense ratio

1.11%

Distribution rate

12.27%

Distribution frequency

Weekly

Trailing yield

7.56%

Last close

$41.97 (as of 2026-10-02)

AUM

$6,364,911

Average volume

2609.0

Last dividend

$0.099

Last ex-dividend date

09/29/2026

Last payment date

09/30/2026

Beta

1.625

P/E ratio

29.3629

How Dividend Vision calculates yield and returns

Distribution rate (12.27%) 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 (7.56%) 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. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Nicholas Wealth Management or company 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

Total return has trailed SPY over the available window.

Who may consider WEPN — and who may not

It is a weaker fit for investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More securities from Nicholas Wealth Management.