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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Overlay Shares Small Cap Equity ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Overlay Shares Small Cap Equity ETF (OVS) has returned 4.70% so far this year and 23.91% over the past 12 months.
Overlay Shares Small Cap Equity ETF
- 1D
- 3.03%
- 1M
- -3.86%
- YTD
- 4.70%
- 6M
- 6.98%
- 1Y
- 23.91%
- 3Y*
- 12.01%
- 5Y*
- 4.50%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Oct 1, 2019, OVS's average daily return is +0.05%, while the average monthly return is +1.06%. At this rate, your investment would double in approximately 5.5 years.
Historically, 60% of months were positive and 40% were negative. The best month was Nov 2020 with a return of +19.4%, while the worst month was Mar 2020 at -21.1%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 4 months.
On a daily basis, OVS closed higher 51% of trading days. The best single day was Mar 24, 2020 with a return of +9.8%, while the worst single day was Mar 16, 2020 at -12.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.12% | 2.62% | -3.86% | 4.70% | |||||||||
| 2025 | 3.11% | -5.81% | -7.65% | -4.55% | 5.63% | 4.64% | 1.27% | 7.10% | 1.22% | -0.67% | 2.78% | 0.08% | 6.15% |
| 2024 | -3.29% | 4.47% | 3.74% | -6.78% | 5.78% | -1.76% | 11.00% | -1.27% | 1.00% | -2.99% | 11.68% | -8.79% | 11.07% |
| 2023 | 10.00% | -1.44% | -5.03% | -2.37% | -1.75% | 8.88% | 5.54% | -4.30% | -7.17% | -7.15% | 10.52% | 13.27% | 17.20% |
| 2022 | -8.66% | 1.30% | 0.91% | -9.27% | 1.74% | -9.35% | 10.89% | -5.14% | -11.70% | 13.50% | 4.30% | -6.87% | -19.99% |
| 2021 | 6.42% | 8.11% | 3.92% | 2.14% | 2.40% | 0.87% | -2.39% | 2.82% | -3.24% | 3.98% | -2.11% | 4.40% | 30.15% |
Benchmark Metrics
Overlay Shares Small Cap Equity ETF has an annualized alpha of -1.96%, beta of 1.08, and R² of 0.64 versus S&P 500 Index. Calculated based on daily prices since October 02, 2019.
- This ETF participated in 124.72% of S&P 500 Index downside but only 115.96% of its upside — more exposed to losses than it benefited from rallies.
- With beta of 1.08 and R² of 0.64, this ETF moves broadly in line with S&P 500 Index — much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -1.96%
- Beta
- 1.08
- R²
- 0.64
- Upside Capture
- 115.96%
- Downside Capture
- 124.72%
Expense Ratio
OVS has an expense ratio of 0.83%, placing it in the medium range.
Return for Risk
Risk / Return Rank
OVS ranks 56 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Overlay Shares Small Cap Equity ETF (OVS) and compare them to a chosen benchmark (S&P 500 Index).
| OVS | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.96 | 0.90 | +0.07 |
Sortino ratioReturn per unit of downside risk | 1.48 | 1.39 | +0.09 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.21 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.56 | 1.40 | +0.16 |
Martin ratioReturn relative to average drawdown | 6.45 | 6.61 | -0.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore OVS risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Overlay Shares Small Cap Equity ETF provided a 6.32% dividend yield over the last twelve months, with an annual payout of $2.30 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $2.30 | $1.32 | $1.42 | $1.05 | $0.99 | $1.51 | $0.52 | $0.15 |
Dividend yield | 6.32% | 3.69% | 4.08% | 3.19% | 3.43% | 4.05% | 1.74% | 0.54% |
Monthly Dividends
The table displays the monthly dividend distributions for Overlay Shares Small 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 | $0.33 | $0.33 | $0.32 | $0.98 | |||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.31 | $0.00 | $0.48 | $1.32 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.34 | $0.00 | $0.54 | $1.42 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.28 | $0.00 | $0.25 | $1.05 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.27 | $0.00 | $0.27 | $0.99 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.35 | $0.00 | $0.63 | $1.51 |
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 Small 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 Small Cap Equity ETF was 45.09%, occurring on Mar 23, 2020. Recovery took 171 trading sessions.
The current Overlay Shares Small Cap Equity ETF drawdown is 5.40%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -45.09% | Jan 17, 2020 | 45 | Mar 23, 2020 | 171 | Nov 23, 2020 | 216 |
| -30.49% | Nov 26, 2024 | 90 | Apr 8, 2025 | 187 | Jan 6, 2026 | 277 |
| -30.43% | Nov 8, 2021 | 226 | Sep 30, 2022 | 448 | Jul 16, 2024 | 674 |
| -10.2% | Jun 9, 2021 | 28 | Jul 19, 2021 | 74 | Nov 1, 2021 | 102 |
| -9.84% | Aug 1, 2024 | 3 | Aug 5, 2024 | 49 | Oct 14, 2024 | 52 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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