CVSM vs. OVS

Last updated Jul 17, 2026

CVSM (CresAlta Small & Mid-Cap ETF) and OVS (Overlay Shares Small Cap Equity ETF) are both Small Cap Blend Equities funds. Both are actively managed. A 0.73 correlation means they provide meaningful diversification when combined. CVSM charges 0.55%/yr vs 0.83%/yr for OVS.

Performance

CVSM vs. OVS - Performance Comparison

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

Returns By Period

CVSM

• 1D: 1.17%
• 1M: 0.85%
• 6M: —
• YTD: —
• 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)

CVSM vs. OVS - Yearly Performance Comparison

	2026 (YTD)
CVSM CresAlta Small & Mid-Cap ETF	4.32%
OVS Overlay Shares Small Cap Equity ETF	10.12%

Correlation

The correlation between CVSM and OVS is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 18, 2026	0.73

Return for Risk

CVSM vs. OVS — Risk / Return Rank

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

CVSM

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.

CVSM vs. OVS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CresAlta Small & Mid-Cap ETF (CVSM) 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.

	CVSM	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

CVSM vs. OVS - Drawdown Comparison

The maximum CVSM drawdown since its inception was -3.36%, smaller than the maximum OVS drawdown of -45.09%. Use the drawdown chart below to compare losses from any high point for CVSM and OVS.

Drawdown Indicators

	CVSM	OVS	Difference
Max Drawdown Largest peak-to-trough decline	-3.36%	-45.09%	+41.73%
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	-0.33%	-0.73%	+0.40%
Average Drawdown Average peak-to-trough decline	-1.01%	-11.18%	+10.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.62%	—

Volatility

Volatility by Period

	CVSM	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	11.11%	19.19%	-8.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.11%	23.18%	-12.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.11%	27.32%	-16.21%

CVSM vs. OVS - Expense Ratio Comparison

CVSM has a 0.55% expense ratio, which is lower than OVS's 0.83% expense ratio.

Dividends

CVSM vs. OVS - Dividend Comparison

CVSM's dividend yield for the trailing twelve months is around 0.23%, less than OVS's 6.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
CVSM CresAlta Small & Mid-Cap ETF	0.23%	0.00%	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 CVSM and OVS in my portfolio?

CVSM and OVS have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CVSM or OVS?

On fees, CVSM is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CVSM or OVS?

CVSM is cheaper with a 0.55% expense ratio, compared with 0.83% for OVS.

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

OVS has the higher dividend yield at 6.65%, compared with 0.23% for CVSM.

What is the main difference between CVSM and OVS?

They also come from different issuers: CresAlta and Liquid Strategies. Their fees differ too: 0.55% for CVSM and 0.83% for OVS.