# R2000 Weekly Distribution ETF (IWMY): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/iwmy for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Defiance · Asset class: Equity - Strategy: Options Income · Inception: 2023-10-30 IWMY is an actively managed exchange-traded fund designed to generate daily income and provide monthly distributions through the strategic deployment of options. The fund employs two distinct options-based approaches. Its primary strategy seeks to secure daily income by writing short-dated put options, either at-the-money or up to 5% in-the-money, with an expiration typically occurring on the following trading day. Profitability from these positions is contingent on an appreciation in the value of the Russell 2000 Index. The secondary strategy focuses on generating monthly distributions by... ## Key Facts | Metric | Value | |---|---| | Price | $16.84 | | Expense Ratio | 1.05% | | Assets Under Management | $83.0M | | NAV | $16.88 | | Holdings Count | 5 | | Distribution Yield (TTM) | 38.45% | | Annual Distribution (TTM) | $6.47 /share | | Distribution Frequency | Weekly | | 52-Week Range | $16.69 – $22.67 | | Beta | 0.85 | ## Latest Distribution - Amount: $0.0989 /share - Ex-date: 2026-10-08 - Pay date: 2026-10-09 ## Frequently Asked Questions ### What does IWMY invest in? IWMY is an actively managed exchange-traded fund designed to generate daily income and provide monthly distributions through the strategic deployment of options. The fund employs two distinct options-based approaches. Its primary strategy seeks to secure daily income by writing short-dated put options, either at-the-money or up to 5% in-the-money, with an expiration typically occurring on the following trading day. Profitability from these positions is contingent on an appreciation in the value of the Russell 2000 Index. The secondary strategy focuses on generating monthly distributions by selling in-the-money put options, aiming for a minimum daily income target of 0.25%. Should this target prove unachievable, the fund will instead sell options priced at their prevailing market value to optimize income generation. Crucially, IWMY will not adopt defensive postures during unfavorable market conditions, nor will it fully or directly participate in the upside performance of the underlying index. Consequently, the fund's risk and return profile is subject to daily fluctuations. A substantial portion of the portfolio is allocated to short-term U.S. Treasury securities, serving as collateral for its short put option obligations. ### What is the expense ratio of IWMY? R2000 Weekly Distribution ETF (IWMY) charges an expense ratio of 1.05%. This is the annual fee deducted from fund assets to cover management and operations. ### What is IWMY's distribution yield? IWMY's trailing-twelve-month yield is 38.45%, calculated from the sum of distributions over the past year divided by the current price. A rate this high reflects large option-premium distributions against a NAV that has declined over the same period. Part of each payout may be return of capital rather than earned income. ### How does IWMY's covered-call strategy work? IWMY sells call options against the stocks (or index) it holds, collecting premium income that gets passed through to shareholders as distributions. The strategy generates above-market income in flat or rising markets but caps upside. When the underlying rallies past the strike, the gains above the strike go to the option buyer, not the fund. ### How big is IWMY? R2000 Weekly Distribution ETF (IWMY) manages $83.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is IWMY actively managed or an index fund? IWMY's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### Does IWMY pay a distribution? Yes, R2000 Weekly Distribution ETF (IWMY) distributes distributions to shareholders. The trailing-twelve-month yield is 38.45%. A rate this high reflects large option-premium distributions against a NAV that has declined over the same period. Part of each payout may be return of capital rather than earned income. Full distribution history is on this page. ### How often does IWMY pay distributions? R2000 Weekly Distribution ETF pays distributions Weekly. Each ex-dividend date, record date, and payment date is listed in the distribution history table on this page. ### When is IWMY's next ex-distribution date? The most recently announced ex-distribution date for IWMY was 2026-10-08. The next ex-date typically follows Weekly; once announced it appears at the top of the distribution history table on this page. ### Is IWMY's distribution sustainable? Covered-call ETFs like IWMY fund their distributions from option premium income. Sustainability depends on (1) whether option premiums stay high enough to cover the announced rate, and (2) whether NAV holds up over time. The NAV Erosion section on this page contrasts total return with price change since inception. If distributions consistently exceed total return, the fund is paying out capital rather than income. ### How much will IWMY's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 1.05% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does IWMY charge its expense ratio? The expense ratio is deducted in tiny daily slices from IWMY's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does IWMY cost more than a fund like VOO? IWMY is an options-income fund (current expense ratio 1.05%). Covered-call and 0DTE strategies require active option-writing, daily rebalancing, and dedicated risk management. They cost more than passive equity funds. The Cost Verdict card compares IWMY against the options-income cohort, not VOO. ### Are IWMY's distributions taxed at ordinary income or qualified-dividend rates? IWMY's option-premium distributions are typically classified as ordinary income (NOT the qualified-dividend rate), so they're taxed at your marginal federal rate plus state. For a 24% bracket investor that's roughly 2x the 15% long-term capital gains rate most dividend investors are used to. The Fee Compounding Forecast card above lets you layer in this tax drag alongside the fund fee. Consult a tax advisor. This is not tax advice. ### Are there cheaper alternatives to IWMY? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as IWMY (1.05%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/iwmy - Distribution history: https://www.dividenddata.com/funds/iwmy/dividend - Holdings & diversification: https://www.dividenddata.com/funds/iwmy/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/iwmy/expenses - Peer comparison: https://www.dividenddata.com/funds/iwmy/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.