IDVO vs. OVL

Last updated Jun 9, 2026

IDVO (Amplify CWP International Enhanced Dividend Income ETF) and OVL (Overlay Shares Large Cap Equity ETF) are both exchange-traded funds - IDVO is a Derivative Income fund actively managed by Amplify, while OVL is a Large Cap Growth Equities fund actively managed by Liquid Strategies. Both are actively managed. Over the past 3 years, IDVO returned 22.06%/yr vs 23.11%/yr for OVL. A 0.72 correlation means they provide meaningful diversification when combined. IDVO charges 0.65%/yr vs 0.79%/yr for OVL.

Performance

IDVO vs. OVL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify CWP International Enhanced Dividend Income ETF (IDVO) and Overlay Shares Large Cap Equity ETF (OVL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IDVO achieves a 11.49% return, which is significantly higher than OVL's 10.47% return.

IDVO

• 1D: 0.24%
• 1M: -2.10%
• YTD: 11.49%
• 6M: 12.59%
• 1Y: 31.78%
• 3Y*: 22.06%
• 5Y*: —
• 10Y*: —

OVL

• 1D: 0.14%
• 1M: -0.14%
• YTD: 10.47%
• 6M: 10.55%
• 1Y: 29.22%
• 3Y*: 23.11%
• 5Y*: 13.78%
• 10Y*: —

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

IDVO vs. OVL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IDVO Amplify CWP International Enhanced Dividend Income ETF	11.49%	36.46%	10.16%	17.53%	6.42%
OVL Overlay Shares Large Cap Equity ETF	10.47%	17.81%	27.91%	28.01%	-4.28%

Correlation

The correlation between IDVO and OVL is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022	0.72

The correlation between IDVO and OVL has been stable across timeframes, ranging from 0.70 to 0.75 - a consistent structural relationship.

IDVO vs. OVL - Sectors Allocation Comparison

Sectors	IDVO	OVL
Financial Services	18.3%	11.6%
Basic Materials	15.7%	1.8%
Energy	12.1%	3.5%
Industrials	9.8%	8.3%
Communication Services	9.1%	11.3%
Technology	8.7%	35.7%
Healthcare	8.3%	8.5%
Consumer Defensive	7.5%	4.9%
Utilities	6.4%	2.4%
Consumer Cyclical	4.2%	10.2%
Real Estate	-	1.9%

Return for Risk

IDVO vs. OVL — Risk / Return Rank

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

IDVO

IDVO Risk / Return Rank: 67
IDVO Sharpe Ratio Rank: 67
IDVO Sortino Ratio Rank: 64
IDVO Omega Ratio Rank: 67
IDVO Calmar Ratio Rank: 68
IDVO Martin Ratio Rank: 70

OVL

OVL Risk / Return Rank: 72
OVL Sharpe Ratio Rank: 70
OVL Sortino Ratio Rank: 66
OVL Omega Ratio Rank: 69
OVL Calmar Ratio Rank: 73
OVL Martin Ratio Rank: 82

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.

IDVO vs. OVL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify CWP International Enhanced Dividend Income ETF (IDVO) and Overlay Shares Large Cap Equity ETF (OVL). 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.

	IDVO	OVL	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.06	-0.06
Sortino ratio: Return per unit of downside risk	2.67	2.73	-0.05
Omega ratio: Gain probability vs. loss probability	1.36	1.37	-0.01
Calmar ratio: Return relative to maximum drawdown	3.08	3.36	-0.28
Martin ratio: Return relative to average drawdown	11.84	14.80	-2.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IDVO vs. OVL - Sharpe Ratio Comparison

The current IDVO Sharpe Ratio is 2.00, which is comparable to the OVL Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of IDVO and OVL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IDVO	OVL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	2.06	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.32	0.78	+0.54

Drawdowns

IDVO vs. OVL - Drawdown Comparison

The maximum IDVO drawdown since its inception was -15.46%, smaller than the maximum OVL drawdown of -35.49%. Use the drawdown chart below to compare losses from any high point for IDVO and OVL.

Drawdown Indicators

	IDVO	OVL	Difference
Max Drawdown Largest peak-to-trough decline	-15.46%	-35.49%	+20.03%
Max Drawdown (1Y) Largest decline over 1 year	-10.37%	-8.73%	-1.64%
Max Drawdown (3Y) Largest decline over 3 years	-15.46%	-21.73%	+6.27%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.23%	—
Current Drawdown Current decline from peak	-3.52%	-3.33%	-0.19%
Average Drawdown Average peak-to-trough decline	-2.30%	-6.70%	+4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	1.98%	+0.71%

Volatility

IDVO vs. OVL - Volatility Comparison

Amplify CWP International Enhanced Dividend Income ETF (IDVO) has a higher volatility of 5.30% compared to Overlay Shares Large Cap Equity ETF (OVL) at 4.23%. This indicates that IDVO's price experiences larger fluctuations and is considered to be riskier than OVL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDVO	OVL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.30%	4.23%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	13.50%	10.95%	+2.55%
Volatility (1Y) Calculated over the trailing 1-year period	16.02%	14.31%	+1.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.43%	19.84%	-3.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.43%	22.55%	-6.12%

IDVO vs. OVL - Expense Ratio Comparison

IDVO has a 0.65% expense ratio, which is lower than OVL's 0.79% expense ratio.

Dividends

IDVO vs. OVL - Dividend Comparison

IDVO's dividend yield for the trailing twelve months is around 5.61%, less than OVL's 6.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IDVO Amplify CWP International Enhanced Dividend Income ETF	5.61%	5.42%	6.14%	5.72%	1.96%	0.00%	0.00%	0.00%
OVL Overlay Shares Large Cap Equity ETF	6.33%	2.99%	3.10%	3.33%	3.85%	3.63%	2.43%	0.50%

Frequently Asked Questions

Can I hold both IDVO and OVL in my portfolio?

IDVO and OVL have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IDVO or OVL?

IDVO has higher volatility (5.30%) compared to OVL (4.23%). In terms of maximum drawdown, IDVO dropped -15.46% vs OVL's -35.49%.

Which ETF is better, IDVO or OVL?

On 3-year performance, OVL leads with 23.11% vs 22.06% for IDVO. On fees, IDVO is cheaper at 0.65% per year. On volatility, OVL has been the lower-risk option at 4.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IDVO or OVL?

Over the 3-year period, OVL has performed better with a 23.11% return vs 22.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IDVO or OVL?

IDVO is cheaper with a 0.65% expense ratio, compared with 0.79% for OVL.

Which ETF pays a higher dividend yield, IDVO or OVL?

OVL has the higher dividend yield at 6.33%, compared with 5.61% for IDVO.

What is the main difference between IDVO and OVL?

IDVO is categorized as Derivative Income, while OVL is Large Cap Growth Equities. They also come from different issuers: Amplify and Liquid Strategies. Their fees differ too: 0.65% for IDVO and 0.79% for OVL.

Which has better risk-adjusted returns?

OVL currently has the higher Sharpe Ratio (2.06 vs 2.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.