OVLH vs. HOLA

Last updated Jun 4, 2026

OVLH (Overlay Shares Hedged Large Cap Equity ETF) and HOLA (JPMorgan International Hedged Equity Laddered Overlay ETF) are both Equity Hedged funds. Both are actively managed. A 0.66 correlation means they provide meaningful diversification when combined. OVLH charges 0.80%/yr vs 0.50%/yr for HOLA.

Performance

OVLH vs. HOLA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Overlay Shares Hedged Large Cap Equity ETF (OVLH) and JPMorgan International Hedged Equity Laddered Overlay ETF (HOLA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OVLH achieves a 7.26% return, which is significantly higher than HOLA's 3.91% return.

OVLH

• 1D: -0.57%
• 1M: 3.78%
• YTD: 7.26%
• 6M: 6.86%
• 1Y: 18.57%
• 3Y*: 16.81%
• 5Y*: 9.69%
• 10Y*: —

HOLA

• 1D: -0.22%
• 1M: 1.62%
• YTD: 3.91%
• 6M: 5.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OVLH vs. HOLA - Yearly Performance Comparison

	2026 (YTD)	2025
OVLH Overlay Shares Hedged Large Cap Equity ETF	7.26%	6.43%
HOLA JPMorgan International Hedged Equity Laddered Overlay ETF	3.91%	7.55%

Correlation

The correlation between OVLH and HOLA is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.66

OVLH vs. HOLA - Sectors Allocation Comparison

Sectors	OVLH	HOLA
Technology	35.7%	11.9%
Financial Services	11.6%	23.9%
Communication Services	11.2%	3.1%
Consumer Cyclical	10.2%	6.2%
Healthcare	8.5%	9.5%
Industrials	8.3%	15.5%
Consumer Defensive	4.9%	6.5%
Energy	3.5%	2.6%
Utilities	2.4%	2.7%
Real Estate	1.9%	1.0%
Basic Materials	1.8%	5.2%

Return for Risk

OVLH vs. HOLA — Risk / Return Rank

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

OVLH

OVLH Risk / Return Rank: 65
OVLH Sharpe Ratio Rank: 66
OVLH Sortino Ratio Rank: 68
OVLH Omega Ratio Rank: 64
OVLH Calmar Ratio Rank: 59
OVLH Martin Ratio Rank: 66

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.

OVLH vs. HOLA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Hedged Large Cap Equity ETF (OVLH) and JPMorgan International Hedged Equity Laddered Overlay ETF (HOLA). 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.

	OVLH	HOLA	Difference
Sharpe ratio: Return per unit of total volatility	2.21	—	—
Sortino ratio: Return per unit of downside risk	3.17	—	—
Omega ratio: Gain probability vs. loss probability	1.39	—	—
Calmar ratio: Return relative to maximum drawdown	2.93	—	—
Martin ratio: Return relative to average drawdown	12.05	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	OVLH	HOLA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	1.40	-0.48

Drawdowns

OVLH vs. HOLA - Drawdown Comparison

The maximum OVLH drawdown since its inception was -20.69%, which is greater than HOLA's maximum drawdown of -6.99%. Use the drawdown chart below to compare losses from any high point for OVLH and HOLA.

Drawdown Indicators

	OVLH	HOLA	Difference
Max Drawdown Largest peak-to-trough decline	-20.69%	-6.99%	-13.70%
Max Drawdown (1Y) Largest decline over 1 year	-6.36%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-9.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.69%	—	—
Current Drawdown Current decline from peak	-0.57%	-1.91%	+1.34%
Average Drawdown Average peak-to-trough decline	-5.02%	-1.45%	-3.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	—	—

Volatility

Volatility by Period

	OVLH	HOLA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.27%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.21%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.46%	9.50%	-1.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.71%	9.50%	+2.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.79%	9.50%	+2.29%

OVLH vs. HOLA - Expense Ratio Comparison

OVLH has a 0.80% expense ratio, which is higher than HOLA's 0.50% expense ratio.

Dividends

OVLH vs. HOLA - Dividend Comparison

OVLH's dividend yield for the trailing twelve months is around 0.28%, less than HOLA's 2.91% yield.

Position	TTM	2025	2024	2023	2022	2021
HOLA JPMorgan International Hedged Equity Laddered Overlay ETF	2.91%	3.02%	0.00%	0.00%	0.00%	0.00%
OVLH Overlay Shares Hedged Large Cap Equity ETF	0.28%	0.30%	0.32%	0.83%	0.79%	0.40%

Frequently Asked Questions

Can I hold both OVLH and HOLA in my portfolio?

OVLH and HOLA have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OVLH or HOLA?

On fees, HOLA is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OVLH or HOLA?

HOLA is cheaper with a 0.50% expense ratio, compared with 0.80% for OVLH.

Which ETF pays a higher dividend yield, OVLH or HOLA?

HOLA has the higher dividend yield at 2.91%, compared with 0.28% for OVLH.

What is the main difference between OVLH and HOLA?

They also come from different issuers: Liquid Strategies and JPMorgan. Their fees differ too: 0.80% for OVLH and 0.50% for HOLA.