OVS vs. SMMV
OVS (Overlay Shares Small Cap Equity ETF) and SMMV (iShares MSCI USA Small-Cap Min Vol Factor ETF) are both Small Cap Blend Equities funds. OVS is actively managed, while SMMV is passively managed. Over the past 5 years, OVS returned 7.56%/yr vs 6.29%/yr for SMMV. Their correlation of 0.86 means they have usually moved in the same direction. OVS charges 0.83%/yr vs 0.20%/yr for SMMV.
Performance
OVS vs. SMMV - Performance Comparison
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Returns By Period
In the year-to-date period, OVS achieves a 23.16% return, which is significantly higher than SMMV's 9.33% return.
OVS
- 1D
- 0.06%
- 1M
- -0.72%
- 6M
- 16.06%
- YTD
- 23.16%
- 1Y
- 38.98%
- 3Y*
- 14.61%
- 5Y*
- 7.56%
- 10Y*
- —
- ALL TIME*
- 12.04%
SMMV
- 1D
- -0.06%
- 1M
- 0.56%
- 6M
- 7.36%
- YTD
- 9.33%
- 1Y
- 16.10%
- 3Y*
- 12.24%
- 5Y*
- 6.29%
- 10Y*
- —
- ALL TIME*
- 8.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $632.13K | $526.77K | $451.76K | |
| $337.38K | $347.17K | $431.55K |
OVS vs. SMMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
OVS Overlay Shares Small Cap Equity ETF | 23.16% | 6.15% | 11.07% | 17.20% | -19.99% | 30.15% | 12.16% | 9.35% |
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF | 9.33% | 6.42% | 18.29% | 5.63% | -10.00% | 16.64% | -2.88% | 4.08% |
Correlation
The correlation between OVS and SMMV is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2019 | 0.86 |
The correlation between OVS and SMMV shifts across timeframes, from 0.70 (1 year) to 0.87 (5 years), reflecting how their relationship changes across market environments.
OVS vs. SMMV - Sectors Allocation Comparison
Sectors
OVS
SMMV
Financial Services
Technology
Industrials
Consumer Cyclical
Healthcare
Real Estate
Energy
Basic Materials
Consumer Defensive
Communication Services
Utilities
Financial Services
OVS
SMMV
Technology
OVS
SMMV
Industrials
OVS
SMMV
Consumer Cyclical
OVS
SMMV
Healthcare
OVS
SMMV
Real Estate
OVS
SMMV
Energy
OVS
SMMV
Basic Materials
OVS
SMMV
Consumer Defensive
OVS
SMMV
Communication Services
OVS
SMMV
Utilities
OVS
SMMV
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Return for Risk
OVS vs. SMMV — Risk / Return Rank
OVS
SMMV
OVS vs. SMMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Small Cap Equity ETF (OVS) and iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV). 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.
| OVS | SMMV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.28 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.30 | 2.19 | +2.11 |
| Martin ratioReturn relative to average drawdown | 14.13 | 6.75 | +7.38 |
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Drawdowns
OVS vs. SMMV - Drawdown Comparison
The maximum OVS drawdown since its inception was -45.09%, which is greater than SMMV's maximum drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for OVS and SMMV.
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Drawdown Indicators
| OVS | SMMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.09% | -38.77% | -6.32% |
Max Drawdown (1Y)Largest decline over 1 year | -8.51% | -7.02% | -1.49% |
Max Drawdown (3Y)Largest decline over 3 years | -30.49% | -13.68% | -16.81% |
Max Drawdown (5Y)Largest decline over 5 years | -30.49% | -18.00% | -12.49% |
Current DrawdownCurrent decline from peak | -2.23% | -1.07% | -1.16% |
Average DrawdownAverage peak-to-trough decline | -11.12% | -5.04% | -6.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 2.28% | +0.31% |
Volatility
OVS vs. SMMV - Volatility Comparison
Overlay Shares Small Cap Equity ETF (OVS) has a higher volatility of 4.16% compared to iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) at 2.85%. This indicates that OVS's price experiences larger fluctuations and is considered to be riskier than SMMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OVS | SMMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.16% | 2.85% | +1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 12.91% | 6.98% | +5.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.22% | 9.75% | +9.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.08% | 13.44% | +9.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.26% | 15.62% | +11.64% |
OVS vs. SMMV - Expense Ratio Comparison
OVS has a 0.83% expense ratio, which is higher than SMMV's 0.20% expense ratio.
Dividends
OVS vs. SMMV - Dividend Comparison
OVS's dividend yield for the trailing twelve months is around 7.69%, more than SMMV's 1.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
OVS Overlay Shares Small Cap Equity ETF | 7.69% | 3.69% | 4.08% | 3.19% | 3.43% | 4.05% | 1.74% | 0.54% | 0.00% | 0.00% | 0.00% |
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF | 1.66% | 1.77% | 1.76% | 2.30% | 1.67% | 1.08% | 1.39% | 1.64% | 1.72% | 1.63% | 0.79% |
Frequently Asked Questions
OVS and SMMV have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OVS has higher volatility (4.16%) compared to SMMV (2.85%). In terms of maximum drawdown, OVS dropped -45.09% vs SMMV's -38.77%.
On 5-year performance, OVS leads with 7.56% vs 6.29% for SMMV. On fees, SMMV is cheaper at 0.20% per year. On volatility, SMMV has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OVS has performed better with a 7.56% return vs 6.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMMV is cheaper with a 0.20% expense ratio, compared with 0.83% for OVS.
OVS has the higher dividend yield at 7.69%, compared with 1.66% for SMMV.
They also come from different issuers: Liquid Strategies and iShares. Their fees differ too: 0.83% for OVS and 0.20% for SMMV.
OVS currently has the higher Sharpe Ratio (1.91 vs 1.58), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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