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- By the record: 114 payments sit in the record, the first on December 1, 2023, and as of October 4, 2026 $6.61 per share arrived over the last twelve months in 52 checks, versus $14.10 in the preceding year, down 53% — roughly 38% of the recent ~$17.18 share price.
- 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.
Same-day options decay fastest of anything traded, and IWMY re-strikes that harvest on small-cap volatility every 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.
- Trailing 12 months: $6.61 per share across 52 payments — down 53% from $14.10 in the 12 months before (split-adjusted, in today's share terms). What a change like that does to your income →
- Current pace: recent payments annualize to $5.49 — 17% below the trailing figure. When those two disagree, the trailing yield is quoting the past. Live cut & raise board →
- Share price, same 12 months: down 26% (dividends excluded) — income and principal are one story. Erosion Index →
- Record: 114 payments over 3 years; the largest single payment was $4.23 (May 2024), split-adjusted.
- Payment drops ≥20% below trend, last 24 months: 20. Get alerted to the next one →
- Payment steadiness: the last 12 checks wobble ±3% around their median. Compare that against any fund →
Every figure above is computed from IWMY's actual payment record and share-price history as of the date shown — not copied from a fact sheet. Recomputed regularly; the chart above always shows the live data.
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| 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.
IWMY is the Russell 2000 member of Defiance's daily-spread trio — the most volatile market of the three, hence historically the fattest checks and the roughest price line. 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.
Small caps make the daily asymmetry harsher: the Russell's frequent hard days all land, while its rip days are pre-sold each morning. 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. Each morning's spread sale pre-commits that day's upside while leaving the downside naked — a toll collected daily, visible only across months. That daily asymmetry, compounded, is the whole risk story.
The Share Price Finishes the Sentence
The payout column alone flatters any fund paying at this clip — the share-price column completes IWMY's sentence. 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.
One more wrinkle the record carries: a reverse split sits in this fund's past, so its oldest per-share figures display larger than holders received — the year-by-year table remains the cleanest way to read the actual trajectory.
A yardstick for the yield: at IWMY's clip, a holder recovers their entire purchase price from distributions alone in roughly two years if the rate holds — the open question the record keeps answering is what the shares are worth when they get there. That's the entire 0DTE income debate in one sentence, and this chart is its longest-running small-cap dataset.
History's rhyme worth remembering: every prior small-cap income design eventually met a stretch where the Russell rallied 20%+ in a quarter, and the funds that pre-sold each day's upside watched from the sidewalk. IWMY hasn't met that quarter yet. When it comes, this page will show precisely what it cost.
Compare It Against Anything
Same chart, two tickers, one honest overlay — payouts and price erosion side by side.
Compare Any Two Funds