You're being paid 8.94% to absorb price risk. Only ~8.94% of it is real fees — and they stop covering impermanent loss if PENDLE-WETH diverges more than ±141%.
Real fee/staking yield: 8.94% · token emissions: 0% of the headline.
Break-even fact: a ±141% move in PENDLE-WETH erases a full year of the fees you actually keep (~8.94%). Whether that move happens is up to the market — but any emissions inflating the headline will fade regardless.
Source: DefiLlama. Verdict is a heuristic over public data, not financial advice.