OVS vs. SYZ
OVS (Overlay Shares Small Cap Equity ETF) and SYZ (Lazard US Systematic Small Cap Equity ETF) are both Small Cap Blend Equities funds. Both are actively managed. Their correlation of 0.95 suggests significant overlap in exposure. OVS charges 0.83%/yr vs 0.60%/yr for SYZ.
Performance
OVS vs. SYZ - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with OVS having a 17.65% return and SYZ slightly lower at 17.30%.
OVS
- 1D
- -0.98%
- 1M
- 2.07%
- YTD
- 17.65%
- 6M
- 16.54%
- 1Y
- 36.35%
- 3Y*
- 16.07%
- 5Y*
- 6.01%
- 10Y*
- —
SYZ
- 1D
- -1.04%
- 1M
- 2.63%
- YTD
- 17.30%
- 6M
- 17.99%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OVS vs. SYZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OVS Overlay Shares Small Cap Equity ETF | 17.65% | 2.71% |
SYZ Lazard US Systematic Small Cap Equity ETF | 17.30% | 0.89% |
Correlation
The correlation between OVS and SYZ is 0.95, 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 16, 2025 | 0.95 |
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Return for Risk
OVS vs. SYZ — Risk / Return Rank
OVS
SYZ
OVS vs. SYZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Small Cap Equity ETF (OVS) and Lazard US Systematic Small Cap Equity ETF (SYZ). 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.
| OVS | SYZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.33 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.29 | — | — |
| Martin ratioReturn relative to average drawdown | 13.85 | — | — |
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
| OVS | SYZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.90 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 1.60 | -1.17 |
Drawdowns
OVS vs. SYZ - Drawdown Comparison
The maximum OVS drawdown since its inception was -45.09%, which is greater than SYZ's maximum drawdown of -8.00%. Use the drawdown chart below to compare losses from any high point for OVS and SYZ.
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Drawdown Indicators
| OVS | SYZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.09% | -8.00% | -37.09% |
Max Drawdown (1Y)Largest decline over 1 year | -8.51% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -30.49% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -30.49% | — | — |
Current DrawdownCurrent decline from peak | -0.98% | -1.04% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -11.35% | -2.09% | -9.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | — | — |
Volatility
OVS vs. SYZ - Volatility Comparison
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Volatility by Period
| OVS | SYZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.58% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 13.00% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 19.27% | 16.65% | +2.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.23% | 16.65% | +6.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.47% | 16.65% | +10.82% |
OVS vs. SYZ - Expense Ratio Comparison
OVS has a 0.83% expense ratio, which is higher than SYZ's 0.60% expense ratio.
Dividends
OVS vs. SYZ - Dividend Comparison
OVS's dividend yield for the trailing twelve months is around 6.83%, more than SYZ's 0.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
OVS Overlay Shares Small Cap Equity ETF | 6.83% | 3.69% | 4.08% | 3.19% | 3.43% | 4.05% | 1.74% | 0.54% |
SYZ Lazard US Systematic Small Cap Equity ETF | 0.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, OVS and SYZ 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.
On fees, SYZ is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SYZ is cheaper with a 0.60% expense ratio, compared with 0.83% for OVS.
OVS has the higher dividend yield at 6.83%, compared with 0.14% for SYZ.
They also come from different issuers: Liquid Strategies and Lazard. Their fees differ too: 0.83% for OVS and 0.60% for SYZ.
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