- CUSIP
- 53656F581
- Issuer
- Liquid Strategies
- Inception Date
- Jan 14, 2021
- Region
- North America (U.S.)
- Category
- Equity Hedged
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $94M
Highlights
- Avg. Volume (1M)
- 15K
- Avg. Volume Value (1M)
- $619.38K
Share Price Chart
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Performance
OVLH Performance Chart
Overlay Shares Hedged Large Cap Equity ETF (OVLH) is up 5.7% since the beginning of the year. OVLH is currently trading at $42 per share. Investors who bought $1,000 worth of OVLH shares 5 years ago would now be looking at an investment worth $1,514.
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Returns By Period
Overlay Shares Hedged Large Cap Equity ETF (OVLH) has returned 5.66% so far this year and 12.65% over the past 12 months.
Overlay Shares Hedged Large Cap Equity ETF
- 1D
- 0.83%
- 1M
- -0.09%
- 6M
- 4.59%
- YTD
- 5.66%
- 1Y
- 12.65%
- 3Y*
- 14.04%
- 5Y*
- 8.65%
- 10Y*
- —
- ALL TIME*
- 10.06%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
OVLH Monthly Returns History
Based on dividend-adjusted daily data since Jan 15, 2021, OVLH's average daily return is +0.04%, while the average monthly return is +0.85%. At this rate, an investment would double in approximately 6.8 years.
Historically, 61% of months were positive and 39% were negative. The best month was Nov 2023 with a return of +8.1%, while the worst month was Apr 2022 at -8.2%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.
On a daily basis, OVLH closed higher 54% of trading days. The best single day was Apr 9, 2025 with a return of +4.9%, while the worst single day was Apr 29, 2022 at -3.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.02% | -1.07% | -3.80% | 7.61% | 3.85% | -1.28% | -0.39% | 5.66% | |||||
| 2025 | 1.48% | -1.14% | -3.03% | 3.36% | 3.50% | 3.80% | 1.36% | 1.31% | 3.02% | 2.03% | -0.44% | -0.28% | 15.77% |
| 2024 | 1.16% | 4.29% | 2.47% | -3.03% | 2.91% | 2.98% | 1.50% | 1.66% | 1.93% | -0.34% | 3.67% | -1.91% | 18.44% |
| 2023 | 3.87% | -2.51% | 2.53% | 1.79% | -0.03% | 5.69% | 2.37% | -1.72% | -4.32% | -3.02% | 8.06% | 3.80% | 16.93% |
| 2022 | -5.30% | -2.69% | 2.76% | -8.19% | 0.75% | -4.74% | 5.24% | -2.77% | -5.34% | 4.92% | 3.57% | -4.53% | -16.16% |
| 2021 | -1.50% | 2.05% | 2.12% | 4.88% | 0.08% | 2.06% | 2.10% | 2.82% | -4.25% | 5.40% | -0.15% | 2.89% | 19.70% |
Benchmark Metrics
Overlay Shares Hedged Large Cap Equity ETF has an annualized alpha of 1.28%, beta of 0.66, and R2 of 0.87 versus S&P 500 Index. Calculated based on daily prices since January 15, 2021.
- This ETF participated in 77.11% of S&P 500 Index downside but only 70.87% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.66 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 1.28%
- Beta
- 0.66
- R²
- 0.87
- Upside Capture
- 70.87%
- Downside Capture
- 77.11%
Expense Ratio
OVLH has an expense ratio of 0.80%, placing it in the medium range.
Return for Risk
Risk / Return Rank
OVLH ranks 51 for risk / return — above 51% of ETFs peers on PortfoliosLab. Its historical combined result is near the middle of the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Overlay Shares Hedged Large Cap Equity ETF (OVLH) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| OVLH | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.25 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 2.00 | -0.16 |
| Martin ratioReturn relative to average drawdown | 6.64 | 8.49 | -1.85 |
Dividends
Dividend History
Overlay Shares Hedged Large Cap Equity ETF provided a 0.28% dividend yield over the last twelve months, with an annual payout of $0.12 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $0.12 | $0.12 | $0.11 | $0.24 | $0.20 | $0.12 |
Dividend yield | 0.28% | 0.30% | 0.32% | 0.83% | 0.79% | 0.40% |
Monthly Dividends
The table displays the monthly dividend distributions for Overlay Shares Hedged Large Cap Equity ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.12 | $0.12 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.11 | $0.11 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.24 | $0.24 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.20 | $0.20 |
| 2021 | $0.12 | $0.12 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Overlay Shares Hedged Large Cap Equity ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Overlay Shares Hedged Large Cap Equity ETF was 20.69%, occurring on Oct 11, 2022. Recovery took 329 trading sessions.
The current Overlay Shares Hedged Large Cap Equity ETF drawdown is 2.05%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-20.69%Oct 2022 | 9mo 17d | 1y 3mo | 2y 1moDec 2021 - Feb 2024 | Bear market2022 |
-8.81%Apr 2025 | 1mo 17d | 1mo 4d | 2mo 21dFeb 2025 - May 2025 | 2025 selloff2025 |
-6.36%Mar 2026 | 2mo 1d | 18d | 2mo 19dJan 2026 - Apr 2026 | — |
-5.22%Aug 2024 | 21d | 1mo 7d | 1mo 28dJul 2024 - Sep 2024 | — |
-5.22%Oct 2021 | 27d | 24d | 1mo 21dSep 2021 - Oct 2021 | — |
Drawdown Indicators
| OVLH | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.69% | -56.78% | +36.09% |
Max Drawdown (1Y)Largest decline over 1 year | -6.36% | -9.10% | +2.74% |
Max Drawdown (3Y)Largest decline over 3 years | -8.81% | -18.90% | +10.09% |
Max Drawdown (5Y)Largest decline over 5 years | -20.69% | -25.43% | +4.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.05% | -1.58% | -0.47% |
Average DrawdownAverage peak-to-trough decline | -4.94% | -10.70% | +5.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 2.14% | -0.37% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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