OVF vs. NIHI

Last updated Jun 24, 2026

OVF (Overlay Shares Foreign Equity ETF) and NIHI (NEOS MSCI EAFE High Income ETF) are both exchange-traded funds - OVF is a Foreign Large Cap Equities fund actively managed by Liquid Strategies, while NIHI is a Derivative Income fund actively managed by Neos. Both are actively managed. Their correlation of 0.93 suggests significant overlap in exposure. OVF charges 0.95%/yr vs 0.68%/yr for NIHI.

Performance

OVF vs. NIHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Overlay Shares Foreign Equity ETF (OVF) and NEOS MSCI EAFE High Income ETF (NIHI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OVF achieves a 12.53% return, which is significantly higher than NIHI's 5.71% return.

OVF

• 1D: -2.89%
• 1M: -0.30%
• YTD: 12.53%
• 6M: 12.22%
• 1Y: 29.96%
• 3Y*: 19.26%
• 5Y*: 9.08%
• 10Y*: —

NIHI

• 1D: -1.57%
• 1M: 0.15%
• YTD: 5.71%
• 6M: 5.67%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OVF vs. NIHI - Yearly Performance Comparison

	2026 (YTD)	2025
OVF Overlay Shares Foreign Equity ETF	12.53%	4.85%
NIHI NEOS MSCI EAFE High Income ETF	5.71%	4.89%

Correlation

The correlation between OVF and NIHI is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 17, 2025	0.93

OVF vs. NIHI - Sectors Allocation Comparison

Sectors	OVF	NIHI
Financial Services	21.3%	22.6%
Technology	19.7%	11.3%
Industrials	16.6%	20.3%
Consumer Cyclical	8.3%	8.3%
Healthcare	8.0%	9.6%
Basic Materials	6.4%	6.8%
Consumer Defensive	5.5%	6.3%
Communication Services	4.9%	4.7%
Energy	3.7%	3.7%
Utilities	3.1%	3.6%
Real Estate	2.5%	3.0%

Return for Risk

OVF vs. NIHI — Risk / Return Rank

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

OVF

OVF Risk / Return Rank: 53
OVF Sharpe Ratio Rank: 52
OVF Sortino Ratio Rank: 49
OVF Omega Ratio Rank: 51
OVF Calmar Ratio Rank: 56
OVF Martin Ratio Rank: 58

NIHI

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

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.

OVF vs. NIHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Foreign Equity ETF (OVF) and NEOS MSCI EAFE High Income ETF (NIHI). 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.

	OVF	NIHI	Difference
Sharpe ratio: Return per unit of total volatility	1.69	—	—
Sortino ratio: Return per unit of downside risk	2.30	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	2.59	—	—
Martin ratio: Return relative to average drawdown	9.81	—	—

Drawdowns

OVF vs. NIHI - Drawdown Comparison

The maximum OVF drawdown since its inception was -30.07%, which is greater than NIHI's maximum drawdown of -10.88%. Use the drawdown chart below to compare losses from any high point for OVF and NIHI.

Drawdown Indicators

	OVF	NIHI	Difference
Max Drawdown Largest peak-to-trough decline	-30.07%	-10.88%	-19.19%
Max Drawdown (1Y) Largest decline over 1 year	-11.64%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.89%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.07%	—	—
Current Drawdown Current decline from peak	-2.90%	-1.64%	-1.26%
Average Drawdown Average peak-to-trough decline	-7.40%	-2.29%	-5.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	—	—

Volatility

Volatility by Period

	OVF	NIHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.25%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.46%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.85%	15.27%	+2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.03%	15.27%	+0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.24%	15.27%	+1.97%

OVF vs. NIHI - Expense Ratio Comparison

OVF has a 0.95% expense ratio, which is higher than NIHI's 0.68% expense ratio.

Dividends

OVF vs. NIHI - Dividend Comparison

OVF's dividend yield for the trailing twelve months is around 9.74%, more than NIHI's 8.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
NIHI NEOS MSCI EAFE High Income ETF	8.72%	3.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OVF Overlay Shares Foreign Equity ETF	9.74%	6.32%	5.13%	5.17%	4.50%	4.88%	2.55%	2.12%

Frequently Asked Questions

Can I hold both OVF and NIHI in my portfolio?

With a correlation of 0.93, OVF and NIHI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, OVF or NIHI?

On fees, NIHI is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OVF or NIHI?

NIHI is cheaper with a 0.68% expense ratio, compared with 0.95% for OVF.

Which ETF pays a higher dividend yield, OVF or NIHI?

OVF has the higher dividend yield at 9.74%, compared with 8.72% for NIHI.

What is the main difference between OVF and NIHI?

OVF is categorized as Foreign Large Cap Equities, while NIHI is Derivative Income. They also come from different issuers: Liquid Strategies and Neos. Their fees differ too: 0.95% for OVF and 0.68% for NIHI.