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ITA vs WEPN

iShares U.S. Aerospace & Defense ETF

ITAACboe

Nicholas Defense and Rare Earth Income ETF

WEPNDNYSE Arca

Overlap

16.5%by weight

Expense ratio

ITA −0.74pt a year

ITA0.37%WEPN1.11%

Avg volume · 30D

ITA 338.6×the volume

ITA747KWEPN2.21K

ITA vs WEPN Performance

Jul 31, 2026 – Oct 30, 2026

−12.4%ITA−0.8%WEPN

Jul 31, 2026 to Oct 30, 2026. ITA −12.4%. WEPN −0.8%. Use the arrow keys to read each point.−5%5%10%15%Jul 2026Sep 2026Oct 2026
Expense ratio
ITA 0.37%, better
WEPN 1.11%
Fund size
ITA $12.2B
WEPN $5M
1Y total return
ITA −2.6%
WEPN No data
Yield (12M)
ITA 0.27%
WEPN No data
Holdings
ITA 52
WEPN 54
Avg volume (30D)
ITA 747K sh, better
WEPN 2.21K sh
NAV per share
ITA $209.66
WEPN $40.73
52W range

ETF.net Grade

ITA: Cost 80, Risk 61, Mission 76, Tradability 96, Holdings 34, Durability 98. WEPN: Cost 0, Risk 65, Mission not scored, Tradability 46, Holdings 34, Durability 38.
Pillar letters and Scores for ITA, WEPN, with each pillar’s weight
PillarITAWEPN
Cost30% weightA80HigherF0
Mission25% weightA76Not scored
Risk15% weightB61B65Higher
Tradability15% weightA96HigherC46
Holdings10% weightD34D34
Durability5% weightA98HigherD38

Rank among Defense & Aerospace funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. ITA and WEPN are both graded against the same 25 Defense & Aerospace funds, so their Grades compare head to head.

Defense & Aerospace⁠

Category · 25 funds
See all 25 ›

ITA ranks 2nd and WEPN 23rd of 25 funds in the Defense & Aerospace Category.

  1. Rank 1AXARState Street SPDR S&P Aerospace & Defense ETFScore 78
  2. Rank 2AITAiShares U.S. Aerospace & Defense ETFScore 74
  3. Rank 3BFLDZTrueShares Patriot Defense ETFScore 62
  4. Rank 22DJEDIDrone and Modern Warfare ETFScore 30
  5. Rank 23DWEPNNicholas Defense and Rare Earth Income ETFScore 29
  6. Rank 24DKDEFPLUS Korea Defense Industry Index ETFScore 28

Our read on each fund

ETF.net Research

ITAAiShares U.S. Aerospace & Defense ETF

WEPNDNicholas Defense and Rare Earth Income ETF

In short

ITA The 2006 original in aerospace and defense, and still the anchor fund of the category. It follows a market-cap-weighted index of U.S. aircraft, parts and weapons makers, so the big primes carry most of the weight.

WEPN Defense, aerospace and cyber stocks plus ETPs tracking strategic metals, wrapped in an options overlay. It takes a theme investors usually buy for growth and runs it for cash instead.

Stated mandate

ITA The fund is designed to follow an index of U.S. equity companies focused on aerospace and defense.

WEPN The Fund primarily seeks capital appreciation and secondarily seeks current income.

Why people hold it

  • ITA Charges 0.37% a year, below the typical defense-fund fee and a whisker off the cheapest large rival, XAR at 0.35%.
  • Trading since 2006 and now a multi-billion-dollar, actively traded fund: the long-standing incumbent in U.S. aerospace and defense.
  • The index weights by market cap but caps any single company's weight, so the biggest primes lead without swallowing the whole portfolio.spglobal.com
  • One of the strongest builds in a crowded defense peer group, with a plain-vanilla index mandate and quarterly payouts.
  • WEPN Three sleeves, one ticker: defense and rare-earth equities, exchange-traded products tied to metals like copper, lithium, cobalt and platinum, and an options overlay that sells premium.nicholasx.com
  • Built as an income vehicle in a corner of the market that rarely pays one. Net option premiums are the main fuel, and the prospectus targets weekly cash distributions.nicholasx.com
  • Actively managed rather than index-locked, so holdings and the options book can be reshaped as defense budgets and critical-mineral supply chains shift.nicholasx.com

Worth knowing

  • ITA About 50 stocks, cap-weighted: a few primes drive most of the ride. XAR's modified equal weight spreads exposure further down the size ladder.ssga.com
  • One U.S. industry, running on two engines: government procurement and commercial aircraft demand. Narrower than a broad-market fund by design.ishares.com
  • Holds a representative sample of the index rather than every constituent, which can leave small gaps versus the benchmark.sec.gov
  • WEPN At 1.11% a year, it costs roughly double what the typical global thematic ETF charges. Layered strategies bill you for the layers.
  • Selling options funds the payout and trims the upside. In a sharp defense or metals rally, the overlay hands back part of the move.nicholasx.com
  • Launched in 2026, so the track record is short, and it is a small, thinly traded fund where bid-ask spreads can run wider than in large thematic ETFs.

Full ITA profile⁠

Full WEPN profile⁠

ITA vs WEPN Holdings

How ITA and WEPN differ

Overlap by weight

16.5%

Shared holdings make up 33.5% of ITA and 24.8% of WEPN.

Level by level

  • Sector8 Sectors0.0%
  • Holdings8 in both16.5%
  • Countryby domicile88.8%
  • Asset classEquity100%

Sector

Sector weights in ITA and WEPN, widest gap first
SectorMore in ITAMore in WEPN
Aerospace & DefenseITA +99.9 points
TechnologyWEPN +41.2 points
IndustrialsWEPN +38.6 points
MaterialsWEPN +16.9 points
EnergyWEPN +3.0 points
Consumer DiscretionaryWEPN +0.3 points
UtilitiesWEPN +0.2 points
Leisure ProductsITA +0.1 points

Country, concentration and asset class

Country by domicile

Country weights in ITA and WEPN, widest gap first
CountryMore in ITAMore in WEPN
United StatesITA +11.2 points
United KingdomWEPN +2.9 points
ChileWEPN +1.9 points
AustraliaWEPN +1.4 points
CanadaWEPN +1.1 points
JapanWEPN +1.0 points
South KoreaWEPN +0.9 points
ChinaWEPN +0.8 points
Other countries (11)WEPN +1.3 points

Concentration

Weight in the 10 largest Holdings

  • ITA76.3%
  • WEPN62.7%

Securities held

  • ITA50
  • WEPN53

Asset class

ITA
Equity
WEPN
Equity

Holdings

  • Only in ITA42
  • In both8
  • Only in WEPN45

Only in ITA

42 securities, 66.5% of ITA by weight

  • Ge Aerospace20.02%
  • Boeing6.83%
  • General Dynamics Corp4.95%

Only in WEPN

45 securities, 76.8% of WEPN by weight

  • Crowdstrike Holdings Inc11.47%
  • Palo Alto Networks Inc10.69%
  • Space Exploration Technologies Corp7.86%

Weight gaps

All 8 Holdings in both funds, largest gap first.

Holding weights in ITA and WEPN, widest gap first
HoldingMore in ITAMore in WEPN
RtxRTXITA +13.25 points
AerovironmentAVAVWEPN +2.48 points
Huntington Ingalls IndustriesHIIWEPN +1.99 points
Northrop Grumman CorpNOCITA +1.97 points
Bwx Technologies IncBWXTWEPN +1.76 points
Lockheed MartinLMTITA +1.71 points
Kratos Defense and Security SolutiKTOSWEPN +1.47 points
Axon EnterpriseAXONWEPN +0.56 points

All 50 ITA holdings⁠All 107 WEPN holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ITA vs WEPN Cost

Overpaying WEPN vs ITA

$12,936

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • ITA 0.37%

    $7,513

  • WEPN 1.11%

    $20,449

$10,000
30 years

Cost over time

  • ITA 0.37%
  • WEPN 1.11%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530WEPN $20,449ITA $7,513

Year by year

YearITAWEPNOverpaying
10$670$1,948$1,278
20$2,590$7,285$4,695
30$7,513$20,449$12,936

Expense ratio

  • 0.37%ITA, cheaper
  • 1.11%WEPN
  • Middle half of Defense & Aerospace funds
  • Median 0.50%

ITA 5th cheapest of 25 funds

WEPN 25th cheapest of 25 funds

ITA vs WEPN Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
ITA 0.27%
WEPN No data
Payout (12M)
ITA $0.57
WEPN No data
Last payment
ITA $0.25
WEPN $0.09
Ex-dividend
ITA Sep 15, 2026
WEPN Oct 27, 2026
Paid on
ITA Sep 18, 2026
WEPN Oct 28, 2026
Frequency
ITA Quarterly
WEPN Weekly

Distribution history

Per share, 2026, same scale for both

ITAQuarterly · 3 paymentsAll ITA payments⁠
One bar per payment. 3 payments in 2026 YTD. Mar 17, 2026 $0.15; Jun 15, 2026 $0.16; Sep 15, 2026 $0.25. Use the arrow keys to read each point.$0$0.252026YTD
WEPNWeekly · 33 paymentsAll WEPN payments⁠
One bar per payment. 33 payments in 2026 YTD. Mar 17, 2026 $0.22; Mar 24, 2026 $0.22; Mar 31, 2026 $0.10; Apr 7, 2026 $0.10; Apr 14, 2026 $0.10; Apr 21, 2026 $0.11; Apr 28, 2026 $0.10; May 5, 2026 $0.10; May 12, 2026 $0.11; May 19, 2026 $0.10; May 27, 2026 $0.10; Jun 2, 2026 $0.11; Jun 9, 2026 $0.11; Jun 16, 2026 $0.10; Jun 23, 2026 $0.10; Jun 30, 2026 $0.09; Jul 7, 2026 $0.10; Jul 14, 2026 $0.10; Jul 21, 2026 $0.09; Jul 28, 2026 $0.09; Aug 4, 2026 $0.09; Aug 11, 2026 $0.10; Aug 18, 2026 $0.11; Aug 25, 2026 $0.10; Sep 1, 2026 $0.11; Sep 9, 2026 $0.10; Sep 15, 2026 $0.10; Sep 22, 2026 $0.10; Sep 29, 2026 $0.10; Oct 6, 2026 $0.10; Oct 14, 2026 $0.10; Oct 20, 2026 $0.09; Oct 27, 2026 $0.09. Use the arrow keys to read each point.$0$0.252026YTD

ITA vs WEPN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ITA 18.5%WEPN No data
Return per unit of riskSharpe ratio, 3 years
ITA 1.06WEPN No data
Worst fallMax drawdown, 5 years
ITA −20.0%WEPN No data
Market sensitivityBeta, 5 years
ITA 0.98WEPN 1.10

ITA and WEPN in the news

All news⁠

Popular comparisons

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