OVL vs. USMC
Compare and contrast key facts about Overlay Shares Large Cap Equity ETF (OVL) and Principal U.S. Mega-Cap ETF (USMC).
OVL and USMC 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. USMC is a passively managed fund by Principal that tracks the performance of the Nasdaq US Mega Cap Select Leaders Index. It was launched on Oct 12, 2017.
Performance
OVL vs. USMC - Performance Comparison
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OVL vs. USMC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
OVL Overlay Shares Large Cap Equity ETF | -2.96% | 17.81% | 27.91% | 28.01% | -22.18% | 32.40% | 20.17% | 10.84% |
USMC Principal U.S. Mega-Cap ETF | -6.05% | 14.99% | 29.82% | 31.57% | -17.17% | 26.30% | 16.05% | 8.78% |
Returns By Period
In the year-to-date period, OVL achieves a -2.96% return, which is significantly higher than USMC's -6.05% return.
OVL
- 1D
- 3.35%
- 1M
- -4.70%
- YTD
- -2.96%
- 6M
- 0.25%
- 1Y
- 21.77%
- 3Y*
- 20.09%
- 5Y*
- 12.24%
- 10Y*
- —
USMC
- 1D
- 2.86%
- 1M
- -4.04%
- YTD
- -6.05%
- 6M
- -5.28%
- 1Y
- 14.22%
- 3Y*
- 18.68%
- 5Y*
- 13.10%
- 10Y*
- —
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OVL vs. USMC - Expense Ratio Comparison
OVL has a 0.79% expense ratio, which is higher than USMC's 0.12% expense ratio.
Return for Risk
OVL vs. USMC — Risk / Return Rank
OVL
USMC
OVL vs. USMC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Large Cap Equity ETF (OVL) and Principal U.S. Mega-Cap ETF (USMC). 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.
| OVL | USMC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.07 | 0.80 | +0.27 |
Sortino ratioReturn per unit of downside risk | 1.61 | 1.26 | +0.34 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.18 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.31 | +0.40 |
Martin ratioReturn relative to average drawdown | 8.22 | 4.89 | +3.33 |
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
| OVL | USMC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 0.80 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 0.81 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.74 | -0.05 |
Correlation
The correlation between OVL and USMC is 0.93, 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
OVL vs. USMC - Dividend Comparison
OVL's dividend yield for the trailing twelve months is around 5.90%, more than USMC's 0.84% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OVL Overlay Shares Large Cap Equity ETF | 5.90% | 2.99% | 3.10% | 3.33% | 3.85% | 3.63% | 2.43% | 0.50% | 0.00% | 0.00% |
USMC Principal U.S. Mega-Cap ETF | 0.84% | 0.79% | 1.04% | 1.35% | 1.78% | 1.53% | 1.55% | 2.01% | 2.28% | 0.24% |
Drawdowns
OVL vs. USMC - Drawdown Comparison
The maximum OVL drawdown since its inception was -35.49%, which is greater than USMC's maximum drawdown of -29.97%. Use the drawdown chart below to compare losses from any high point for OVL and USMC.
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Drawdown Indicators
| OVL | USMC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.49% | -29.97% | -5.52% |
Max Drawdown (1Y)Largest decline over 1 year | -13.27% | -11.16% | -2.11% |
Max Drawdown (5Y)Largest decline over 5 years | -29.23% | -24.09% | -5.14% |
Current DrawdownCurrent decline from peak | -5.68% | -7.74% | +2.06% |
Average DrawdownAverage peak-to-trough decline | -6.87% | -4.47% | -2.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 2.99% | -0.22% |
Volatility
OVL vs. USMC - Volatility Comparison
Overlay Shares Large Cap Equity ETF (OVL) has a higher volatility of 6.06% compared to Principal U.S. Mega-Cap ETF (USMC) at 5.00%. This indicates that OVL's price experiences larger fluctuations and is considered to be riskier than USMC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OVL | USMC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.06% | 5.00% | +1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 11.61% | 9.23% | +2.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.37% | 17.82% | +2.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.82% | 16.36% | +3.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.76% | 18.36% | +4.40% |