Correlation
The correlation between OVL and SPYD is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
OVL vs. SPYD
Compare and contrast key facts about Overlay Shares Large Cap Equity ETF (OVL) and SPDR Portfolio S&P 500 High Dividend ETF (SPYD).
OVL and SPYD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OVL is an actively managed fund by Liquid Strategies. It was launched on Sep 30, 2019. SPYD is a passively managed fund by State Street that tracks the performance of the S&P 500 High Dividend Index. It was launched on Oct 21, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: OVL or SPYD.
Performance
OVL vs. SPYD - Performance Comparison
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Key characteristics
OVL:
0.52
SPYD:
0.70
OVL:
0.78
SPYD:
1.04
OVL:
1.12
SPYD:
1.14
OVL:
0.52
SPYD:
0.68
OVL:
1.84
SPYD:
2.08
OVL:
6.20%
SPYD:
5.29%
OVL:
25.28%
SPYD:
15.78%
OVL:
-35.49%
SPYD:
-46.42%
OVL:
-6.03%
SPYD:
-8.20%
Returns By Period
In the year-to-date period, OVL achieves a -0.91% return, which is significantly lower than SPYD's -0.81% return.
OVL
-0.91%
5.90%
-4.01%
12.08%
14.17%
16.13%
N/A
SPYD
-0.81%
1.46%
-8.16%
8.64%
2.97%
13.74%
N/A
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OVL vs. SPYD - Expense Ratio Comparison
OVL has a 0.79% expense ratio, which is higher than SPYD's 0.07% expense ratio.
Risk-Adjusted Performance
OVL vs. SPYD — Risk-Adjusted Performance Rank
OVL
SPYD
OVL vs. SPYD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Large Cap Equity ETF (OVL) and SPDR Portfolio S&P 500 High Dividend ETF (SPYD). 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.
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Dividends
OVL vs. SPYD - Dividend Comparison
OVL's dividend yield for the trailing twelve months is around 3.31%, less than SPYD's 4.50% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
OVL Overlay Shares Large Cap Equity ETF | 3.31% | 3.10% | 3.34% | 3.85% | 3.63% | 2.44% | 0.50% | 0.00% | 0.00% | 0.00% | 0.00% |
SPYD SPDR Portfolio S&P 500 High Dividend ETF | 4.50% | 4.31% | 4.66% | 5.01% | 3.69% | 4.96% | 4.42% | 4.75% | 4.64% | 4.34% | 1.13% |
Drawdowns
OVL vs. SPYD - Drawdown Comparison
The maximum OVL drawdown since its inception was -35.49%, smaller than the maximum SPYD drawdown of -46.42%. Use the drawdown chart below to compare losses from any high point for OVL and SPYD.
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Volatility
OVL vs. SPYD - Volatility Comparison
Overlay Shares Large Cap Equity ETF (OVL) has a higher volatility of 5.00% compared to SPDR Portfolio S&P 500 High Dividend ETF (SPYD) at 4.59%. This indicates that OVL's price experiences larger fluctuations and is considered to be riskier than SPYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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