Nicholas Defense and Rare Earth Income ETF
WEPN
New York Stock Exchange Arca48.51
USD
-1.04
- -
ISIN
US88636X2606
CUSIP
88636X260
Return %
Stock
S&P500
1Y
94.04
19.01
3Y
94.04
65.48
5Y
94.04
72.20
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- David Alexis Nicholas
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 234 West Florida Street Milwaukee WI United States of America 53204
- IPO Date
- Mar 3, 2026
- Website
- nicholasx.com
- Similar Companies
- Business
- Nicholas Defense and Rare Earth Income ETF (WEPN) is an actively managed exchange-traded fund that seeks to provide investors with income and capital appreciation through targeted exposure to the defense sector and rare earth elements supply chain. The ETF's portfolio primarily invests in equity securities, convertible bonds, and income-generating instruments of companies involved in defense manufacturing, aerospace technologies, munitions production, and critical minerals extraction; it also allocates to rare earth mining firms, processing facilities, and downstream applications in electronics, renewable energy magnets, and advanced materials. WEPN emphasizes high-yield dividend payers and growth-oriented names within these segments, serving institutional and retail investors focused on national security themes, geopolitical resource strategies, and sustainable technology supply chains. Founded in 2023 and domiciled in the United States with primary operations across North American exchanges, the ETF operates globally by targeting U.S.-listed companies with international footprints in North America, Europe, Asia-Pacific, and emerging markets rich in rare earth deposits such as Australia and Africa. In late 2025, WEPN announced a strategic partnership with a leading rare earth producer to enhance exposure to downstream refining capabilities; it also completed a $150 million seed funding round led by defense-focused venture capital firms to support portfolio expansion amid heightened U.S. policy emphasis on domestic critical minerals production. Recent developments include the launch of an enhanced ESG-screened share class in early 2026 and a portfolio rebalancing to incorporate new defense contractors benefiting from increased government contracts under the current administration.