WASP vs White person

WASP and White person both are nouns.

Word	Noun	Adjective	Verb	Adverb
WASP	Yes	No	No	No
White person	Yes	No	No	No

As nouns, White person is a hypernym of WASP; that is, White person is a word with a broader meaning than WASP:

WASP: a white person of Anglo-Saxon ancestry who belongs to a Protestant denomination
White person: a person of European descent with a light-skinned or pale complexion

Other hypernyms of WASP include Caucasian, White, Protestant.

WASP (noun)	White person (noun)
a white person of Anglo-Saxon ancestry who belongs to a Protestant denomination	a person of European descent with a light-skinned or pale complexion