AMDW vs. OVS

Last updated Jul 17, 2026

AMDW (Roundhill AMD WeeklyPay ETF) and OVS (Overlay Shares Small Cap Equity ETF) are both exchange-traded funds - AMDW is a Derivative Income fund actively managed by Roundhill, while OVS is a Small Cap Blend Equities fund actively managed by Liquid Strategies. Both are actively managed. At a 0.43 correlation, their price movements are largely independent. AMDW charges 0.99%/yr vs 0.83%/yr for OVS.

Performance

AMDW vs. OVS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill AMD WeeklyPay ETF (AMDW) and Overlay Shares Small Cap Equity ETF (OVS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMDW achieves a 163.57% return, which is significantly higher than OVS's 25.05% return.

AMDW

• 1D: -6.28%
• 1M: -2.08%
• 6M: 145.80%
• YTD: 163.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

OVS

• 1D: 0.59%
• 1M: 3.48%
• 6M: 15.93%
• YTD: 25.05%
• 1Y: 37.14%
• 3Y*: 16.14%
• 5Y*: 8.62%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMDW vs. OVS - Yearly Performance Comparison

	2026 (YTD)	2025
AMDW Roundhill AMD WeeklyPay ETF	163.57%	36.56%
OVS Overlay Shares Small Cap Equity ETF	25.05%	6.95%

Correlation

The correlation between AMDW and OVS is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.43

AMDW vs. OVS - Sectors Allocation Comparison

Sectors	AMDW	OVS
Technology	21.4%	17.5%
Basic Materials	-	5.0%
Communication Services	-	3.7%
Consumer Cyclical	-	13.1%
Consumer Defensive	-	3.7%
Energy	-	5.4%
Financial Services	-	16.4%
Healthcare	-	10.9%
Industrials	-	15.1%
Real Estate	-	7.5%
Utilities	-	1.9%

Return for Risk

AMDW vs. OVS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMDW

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

OVS

OVS Risk / Return Rank: 81
OVS Sharpe Ratio Rank: 77
OVS Sortino Ratio Rank: 78
OVS Omega Ratio Rank: 71
OVS Calmar Ratio Rank: 90
OVS Martin Ratio Rank: 86

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMDW vs. OVS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill AMD WeeklyPay ETF (AMDW) and Overlay Shares Small Cap Equity ETF (OVS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AMDW	OVS	Difference
Sharpe ratio: Return per unit of total volatility	—	1.95	—
Sortino ratio: Return per unit of downside risk	—	2.79	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	4.39	—
Martin ratio: Return relative to average drawdown	—	14.20	—

Drawdowns

AMDW vs. OVS - Drawdown Comparison

The maximum AMDW drawdown since its inception was -34.64%, smaller than the maximum OVS drawdown of -45.09%. Use the drawdown chart below to compare losses from any high point for AMDW and OVS.

Drawdown Indicators

	AMDW	OVS	Difference
Max Drawdown Largest peak-to-trough decline	-34.64%	-45.09%	+10.45%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.51%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-30.49%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-30.49%	—
Current Drawdown Current decline from peak	-16.03%	-0.73%	-15.30%
Average Drawdown Average peak-to-trough decline	-13.84%	-11.18%	-2.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.62%	—

Volatility

Volatility by Period

	AMDW	OVS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.25%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	83.60%	19.19%	+64.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.60%	23.18%	+60.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.60%	27.32%	+56.28%

AMDW vs. OVS - Expense Ratio Comparison

AMDW has a 0.99% expense ratio, which is higher than OVS's 0.83% expense ratio.

Dividends

AMDW vs. OVS - Dividend Comparison

AMDW's dividend yield for the trailing twelve months is around 45.55%, more than OVS's 6.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AMDW Roundhill AMD WeeklyPay ETF	45.55%	34.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OVS Overlay Shares Small Cap Equity ETF	6.65%	3.69%	4.08%	3.19%	3.43%	4.05%	1.74%	0.54%

Frequently Asked Questions

Can I hold both AMDW and OVS in my portfolio?

AMDW and OVS have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AMDW or OVS?

On fees, OVS is cheaper at 0.83% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AMDW or OVS?

OVS is cheaper with a 0.83% expense ratio, compared with 0.99% for AMDW.

Which ETF pays a higher dividend yield, AMDW or OVS?

AMDW has the higher dividend yield at 45.55%, compared with 6.65% for OVS.

What is the main difference between AMDW and OVS?

AMDW is categorized as Derivative Income, while OVS is Small Cap Blend Equities. They also come from different issuers: Roundhill and Liquid Strategies. Their fees differ too: 0.99% for AMDW and 0.83% for OVS.