OVF vs. ETO
Compare and contrast key facts about Overlay Shares Foreign Equity ETF (OVF) and Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (ETO).
OVF is an actively managed fund by Liquid Strategies. It was launched on Sep 30, 2019. ETO is a passively managed fund by Eaton Vance that tracks the performance of the MSCI World Index. It was launched on Apr 30, 2004.
Performance
OVF vs. ETO - Performance Comparison
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OVF vs. ETO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
OVF Overlay Shares Foreign Equity ETF | 3.04% | 33.03% | 6.40% | 15.25% | -17.64% | 9.56% | 2.65% | 5.81% |
ETO Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund | -10.61% | 29.96% | 15.55% | 21.54% | -29.96% | 37.18% | 6.25% | 4.70% |
Returns By Period
In the year-to-date period, OVF achieves a 3.04% return, which is significantly higher than ETO's -10.61% return.
OVF
- 1D
- 3.86%
- 1M
- -7.90%
- YTD
- 3.04%
- 6M
- 8.18%
- 1Y
- 30.14%
- 3Y*
- 16.53%
- 5Y*
- 8.35%
- 10Y*
- —
ETO
- 1D
- 3.74%
- 1M
- -11.20%
- YTD
- -10.61%
- 6M
- 0.27%
- 1Y
- 17.00%
- 3Y*
- 14.68%
- 5Y*
- 8.04%
- 10Y*
- 10.87%
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OVF vs. ETO - Expense Ratio Comparison
OVF has a 0.95% expense ratio, which is lower than ETO's 2.56% expense ratio.
Return for Risk
OVF vs. ETO — Risk / Return Rank
OVF
ETO
OVF vs. ETO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Foreign Equity ETF (OVF) and Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (ETO). 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.
| OVF | ETO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.57 | 0.86 | +0.71 |
Sortino ratioReturn per unit of downside risk | 2.19 | 1.24 | +0.95 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.19 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 2.43 | 1.06 | +1.37 |
Martin ratioReturn relative to average drawdown | 9.53 | 4.60 | +4.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OVF | ETO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 0.86 | +0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.40 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.48 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.42 | +0.05 |
Correlation
The correlation between OVF and ETO is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
OVF vs. ETO - Dividend Comparison
OVF's dividend yield for the trailing twelve months is around 9.04%, more than ETO's 7.80% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OVF Overlay Shares Foreign Equity ETF | 9.04% | 6.32% | 5.13% | 5.17% | 4.50% | 4.88% | 2.55% | 2.12% | 0.00% | 0.00% | 0.00% | 0.00% |
ETO Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund | 7.80% | 6.85% | 7.81% | 6.97% | 9.87% | 5.82% | 7.36% | 8.32% | 11.51% | 8.50% | 9.51% | 9.29% |
Drawdowns
OVF vs. ETO - Drawdown Comparison
The maximum OVF drawdown since its inception was -30.07%, smaller than the maximum ETO drawdown of -72.02%. Use the drawdown chart below to compare losses from any high point for OVF and ETO.
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Drawdown Indicators
| OVF | ETO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.07% | -72.02% | +41.95% |
Max Drawdown (1Y)Largest decline over 1 year | -12.17% | -15.27% | +3.10% |
Max Drawdown (5Y)Largest decline over 5 years | -30.07% | -35.44% | +5.37% |
Max Drawdown (10Y)Largest decline over 10 years | — | -52.03% | — |
Current DrawdownCurrent decline from peak | -8.23% | -12.10% | +3.87% |
Average DrawdownAverage peak-to-trough decline | -7.59% | -12.82% | +5.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 3.51% | -0.40% |
Volatility
OVF vs. ETO - Volatility Comparison
Overlay Shares Foreign Equity ETF (OVF) has a higher volatility of 9.09% compared to Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund (ETO) at 7.18%. This indicates that OVF's price experiences larger fluctuations and is considered to be riskier than ETO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OVF | ETO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.09% | 7.18% | +1.91% |
Volatility (6M)Calculated over the trailing 6-month period | 13.00% | 11.56% | +1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.25% | 19.87% | -0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.45% | 20.01% | -4.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 22.69% | -5.65% |