At a glance
WTPI charges 0.44% a year. It has $528.0M in assets; it paid 13.23% of its price in distributions over the past 12 months, monthly. Over the past year it returned +10.5% with distributions reinvested.
The short version
WisdomTree Equity Premium Income Fund (WTPI) is an options-based ETF. It tracks the Volos U.S. Large Cap Target 2.5% PutWrite Index by selling put options on the S&P 500 and holding short-term Treasury bills as collateral. It pays income monthly, with a trailing 12-month yield of 13.23% as of October 27, 2026. In exchange, its gains are capped and it still takes stock-market losses beyond the premiums it collects. The expense ratio is 0.44%.
Price history
The interactive chart needs JavaScript.
WTPI +10.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| WTPI official prospectus, to Dec 31, 2024 | — | +17.02% | — | +8.40% | — | +7.75% |
| Cboe S&P 500® Put Write Index/Volos U.S. Large Cap Target 2.5% Put Write Spliced Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +17.88% | — | +9.26% | — | +8.49% |
| S&P 500® Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +25.02% | — | +14.53% | — | +15.44% |
| WTPI price data to Oct 27, 2026 | +8.7% | +10.5% | — | — | — | +23.5% |
- Over the year to Oct 27, 2026, WTPI returned +10.5%.
- The deepest fall in its price history was 7.1% (Feb 10, 2026 to Mar 30, 2026), recovered by May 13, 2026.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +8.7% | — |
| 2024 | — | +17.02% |
| 2023 | — | +15.83% |
| 2022 | — | -10.38% |
| 2021 | — | +21.16% |
| 2020 | — | +1.70% |
| 2019 | — | +12.98% |
| 2018 | — | -6.60% |
| 2017 | — | +10.29% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Not in the price data, which starts Apr 4, 2025 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Not in the price data, which starts Apr 4, 2025 |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $2.8800 |
What's inside
As of Aug 31, 2026, the fund held 3 securities; the ten largest made up 101.44% of assets.
| Holding | Weight | |
|---|---|---|
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 48.72% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 48.36% | |
| WisdomTree Floating Rate Treasury Fund | 4.36% |
By country
United States 101.44%By issuer
US Treasury 97.08%Other registered funds 4.36%The bonds mature in 0.3 years on average (weighted by size), with an average coupon of 0%.
Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors added a net $51.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.21%, +1.04%, +1.78%.
How it works
WTPI seeks to track the Volos U.S. Large Cap Target 2.5% PutWrite Index. The index holds no stocks. It models a “cash-secured put” strategy: selling put options on the SPDR S&P 500 ETF Trust (SPY) and holding Treasury bills to cover them. A put seller collects an upfront payment (the premium) and owes the buyer the shortfall if prices fall below an agreed level.
WisdomTree and sub-adviser Newton Investment Management North America expect to sell puts on the S&P 500 Index, but may also use SPY puts, other options or futures. Each new option targets a premium of about 2.5% of the index level and expires the following month. The fund holds at least two options with different expiration dates. It closes each before expiry and sells a replacement the same day (“rolling”). Its Treasury bills cap how many options it can sell.
As of August 31, 2026, about 97% of assets sat in two Treasury bills and 4.4% in the WisdomTree Floating Rate Treasury Fund (USFR). The sold SPY puts were a liability of about 3.2% of assets. The fund earns premiums plus Treasury interest. When stocks fall, premiums only partly offset losses; when they rise, the fund gives up gains beyond the premiums. It aims to pay monthly distributions at a relatively stable level.
What it really costs
- WTPI charges 0.44% a year.
- Using the prospectus's standard example, $10,000 invested would cost about $45 in the first year and $555 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| WTPI | $45 | $141 | $246 | $555 |
Structure and tax notes
- Generates much of its income from selling options (directly or through notes). That income is usually taxed as ordinary income rather than as qualified dividends, and the strategy gives up some upside in strong markets.
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
WTPI turns S&P 500 put-selling and Treasury interest into monthly payouts, but it still carries stock-market risk.
WTPI could serve as an income sleeve. It pays monthly, with a trailing 12-month yield of 13.23% as of October 27, 2026. The expense ratio is 0.44%, or $45 in the first year on $10,000 under the SEC's standard example. Its protection in a crash is thin. The fund lost 20.65% in the first quarter of 2020 and 10.38% in 2022, its worst calendar year from 2017 to 2024. In price data from April 2025 on, its deepest drop was 7.1%, from February 10 to March 30, 2026. It recovered in about 1.4 months. Anyone forced to sell after a drop like the one in 2020 would lock in the loss, and the payouts aren't guaranteed. Gains are capped too: the fund returned 8.40% a year over the five years through 2024, versus 14.53% for the S&P 500. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want monthly income from S&P 500 put-selling, with a 13.23% trailing yield as of October 27, 2026.
- Those willing to give up strong-market gains: 8.40% a year over five years through 2024, versus 14.53% for the S&P 500.
- Investors who prefer an unleveraged, cash-secured structure backed mostly by short-term Treasury bills, at a 0.44% expense ratio.
Look elsewhere if
- Anyone wanting real downside protection: the fund fell 20.65% in the first quarter of 2020 and 10.38% in 2022.
- Taxable investors seeking qualified dividends, since income from selling options is usually taxed as ordinary income.
- Long-term growth investors: from inception through 2024 it returned 7.75% a year, versus 15.44% for the S&P 500.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
No close alternatives found.
Questions investors ask
Does WTPI pay monthly dividends?
Yes. WTPI pays distributions monthly and aims to keep them at a fairly stable level. Over the 12 months to October 27, 2026, it paid $4.35 per share, a 13.23% trailing yield. The money comes mainly from option premiums and Treasury bill interest, so payouts can change and aren't guaranteed. Income from selling options is usually taxed as ordinary income, not at the lower rate for qualified dividends.
Is WTPI a covered call ETF?
No. Covered-call funds own stocks and sell call options on them. WTPI owns mostly Treasury bills and sells put options on the S&P 500. The results can look similar. Both strategies collect premiums, limit gains in strong markets and still lose money when stocks fall sharply. WTPI's index targets put premiums of about 2.5% of the S&P 500's value, and the fund rolls into new options each month.
How has WTPI performed compared with the S&P 500?
WTPI has trailed the S&P 500, as expected for a strategy with capped gains. As of December 31, 2024, the fund returned 17.02% over one year, 8.40% a year over five years and 7.75% a year since inception. The S&P 500 returned 25.02%, 14.53% and 15.44% over the same periods. The fund's own benchmark index returned 9.26% a year over five years, before fees.
Does WTPI own any stocks?
Not directly. As of August 31, 2026, about 97% of WTPI was in two US Treasury bills and 4.4% in the WisdomTree Floating Rate Treasury Fund (USFR). The rest was written put options on the SPDR S&P 500 ETF Trust (SPY). Its stock exposure comes from those options. If the S&P 500 drops below the strike prices, the fund pays the difference, so it still carries stock-market risk.
Is WTPI good for retirement income?
It can supply monthly income, but it carries real stock-market risk. The fund lost 20.65% in the first quarter of 2020 and 10.38% in 2022. Under the SEC's standard example, its 0.44% expense ratio costs $45 after one year and $555 after ten years on $10,000. It may suit investors who want steady payouts and accept capped gains, alongside other holdings rather than on its own.