- Pays: weekly.
- First paid: December 2023 — every payment since is charted below.
- What it is: long exposure to the Russell 2000 plus daily (0DTE) credit call spreads sold against it, targeting annual distributions around 30% of NAV.
- Fee: 1.05% gross expense ratio (issuer fund page).
- The family: sibling of QQQY — same daily-spread engine on small caps.
Selling options that expire the same day harvests the fastest time decay in the market — and re-rolls the bet every single session. The ~30% distribution target is aggressive by construction; sustained payouts at that rate have historically come with significant share-price erosion. Both halves are on this page.
IWMY pays weekly. Each point below is one distribution since the fund began paying in December 2023.
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Each point is one payment; the line ends at the most recent payout. The table below totals them by year.
| Recent Ex-Dividend Dates | Distribution / Share |
|---|
"Next expected" is estimated from IWMY's recent payment rhythm — the fund announces exact dates shortly before each payout, and the data feed can lag a few days. You must own shares before the ex-dividend date to receive that payout; the cash typically arrives days later. See every fund's upcoming date on the live dividend calendar.
A real total-return estimate, assuming every payout was reinvested — including what happened to the share price. Before taxes and fees. Past performance does not predict the future.
Defiance's daily-options trilogy runs one engine on three markets: sell same-day credit call spreads against long index exposure, every trading day, and pay the accumulated premium out weekly. QQQY does it on the Nasdaq-100, IWMY on the Russell 2000, and its sibling completes the set. Roundhill's QDTE and XDTE run the rival version of the same idea.
Daily spreads cap each day's upside but keep each day's downside — over months that asymmetry, not the option math, decides total return. Overlay IWMY against its plain index on the compare tool and the Erosion Index.
| Year | Total Distributions / Share | Payments | Change vs Prior Year |
|---|
Data source: Yahoo Finance. Figures are per share; the current year may be partial and figures should be verified against official sources. Note: after a share split, this data source restates all historical per-share payouts in today's share terms — the split disclosure above the chart applies.
Calculated from complete calendar years in the data above. Past results don't guarantee future payments.
When Is IWMY's Next Ex-Dividend Date?
IWMY pays weekly. The exact date of each payout is announced by the fund only shortly beforehand, so no site can promise the next date — but the live schedule box above shows the most recent ex-dividend date and the expected window for the next one, computed from IWMY's actual payment rhythm. Remember: you must own shares before the ex-dividend date to receive that payout.
IWMY's Record So Far
IWMY — the Defiance R2000 Weekly Distribution ETF — launched in October 2023 and has paid weekly since December 2023. The chart above shows every declared distribution.
Why 0DTE Premium Is Different
An option's time value decays fastest in its final hours, so a fund that sells only same-day options harvests the steepest slice of decay the market offers — hundreds of times a year. The cost is re-exposure: every session's rally is partly sold away before it happens, while every session's drop arrives in full. That daily asymmetry, compounded, is the whole risk story.
Reading the Chart Honestly
Weekly checks at a ~30% annual clip look magnificent in the payout column alone. The honest read pairs them with the share price — the Erosion Index tracks exactly that — and judges the package on total return against simply holding the Russell 2000.
Compare It Against Anything
Same chart, two tickers, one honest overlay — payouts and price erosion side by side.
Compare Any Two Funds