OVS vs. VB
OVS (Overlay Shares Small Cap Equity ETF) and VB (Vanguard Small-Cap ETF) are both Small Cap Blend Equities funds. OVS is actively managed, while VB is passively managed. Over the past 5 years, OVS returned 7.56%/yr vs 7.45%/yr for VB. Their correlation of 0.94 means they have usually moved in the same direction. OVS charges 0.83%/yr vs 0.03%/yr for VB.
Performance
OVS vs. VB - 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 VB's 15.19% 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%
VB
- 1D
- -0.22%
- 1M
- -1.73%
- 6M
- 10.09%
- YTD
- 15.19%
- 1Y
- 25.91%
- 3Y*
- 14.02%
- 5Y*
- 7.45%
- 10Y*
- 11.08%
- ALL TIME*
- 9.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $632.13K | $526.77K | $451.76K | |
| $121.48M | $119.40M | $165.11M |
OVS vs. VB - 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% |
VB Vanguard Small-Cap ETF | 15.19% | 8.87% | 14.17% | 18.22% | -17.51% | 17.57% | 19.19% | 8.21% |
Correlation
The correlation between OVS and VB is 0.95, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.95 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2019 | 0.94 |
The correlation between OVS and VB has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
OVS vs. VB - Sectors Allocation Comparison
Sectors
OVS
VB
Financial Services
Technology
Industrials
Consumer Cyclical
Healthcare
Real Estate
Energy
Basic Materials
Consumer Defensive
Communication Services
Utilities
Financial Services
OVS
VB
Technology
OVS
VB
Industrials
OVS
VB
Consumer Cyclical
OVS
VB
Healthcare
OVS
VB
Real Estate
OVS
VB
Energy
OVS
VB
Basic Materials
OVS
VB
Consumer Defensive
OVS
VB
Communication Services
OVS
VB
Utilities
OVS
VB
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Return for Risk
OVS vs. VB — Risk / Return Rank
OVS
VB
OVS vs. VB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Overlay Shares Small Cap Equity ETF (OVS) and Vanguard Small-Cap ETF (VB). 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 | VB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.26 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.30 | 2.67 | +1.63 |
| Martin ratioReturn relative to average drawdown | 14.13 | 9.73 | +4.39 |
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Drawdowns
OVS vs. VB - Drawdown Comparison
The maximum OVS drawdown since its inception was -45.09%, smaller than the maximum VB drawdown of -59.56%. Use the drawdown chart below to compare losses from any high point for OVS and VB.
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Drawdown Indicators
| OVS | VB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.09% | -59.56% | +14.47% |
Max Drawdown (1Y)Largest decline over 1 year | -8.51% | -8.98% | +0.47% |
Max Drawdown (3Y)Largest decline over 3 years | -30.49% | -25.36% | -5.13% |
Max Drawdown (5Y)Largest decline over 5 years | -30.49% | -28.15% | -2.34% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.05% | — |
Current DrawdownCurrent decline from peak | -2.23% | -2.63% | +0.40% |
Average DrawdownAverage peak-to-trough decline | -11.12% | -8.39% | -2.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 2.46% | +0.13% |
Volatility
OVS vs. VB - Volatility Comparison
Overlay Shares Small Cap Equity ETF (OVS) has a higher volatility of 4.16% compared to Vanguard Small-Cap ETF (VB) at 3.36%. This indicates that OVS's price experiences larger fluctuations and is considered to be riskier than VB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OVS | VB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.16% | 3.36% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 12.91% | 12.01% | +0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.22% | 16.47% | +2.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.08% | 20.69% | +2.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.26% | 21.37% | +5.89% |
OVS vs. VB - Expense Ratio Comparison
OVS has a 0.83% expense ratio, which is higher than VB's 0.03% expense ratio.
Dividends
OVS vs. VB - Dividend Comparison
OVS's dividend yield for the trailing twelve months is around 7.69%, more than VB's 1.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
VB Vanguard Small-Cap ETF | 1.22% | 1.33% | 1.30% | 1.55% | 1.59% | 1.24% | 1.14% | 1.39% | 1.67% | 1.35% | 1.50% | 1.48% |
Frequently Asked Questions
With a correlation of 0.95, OVS and VB 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.
OVS has higher volatility (4.16%) compared to VB (3.36%). In terms of maximum drawdown, OVS dropped -45.09% vs VB's -59.56%.
On 5-year performance, OVS leads with 7.56% vs 7.45% for VB. On fees, VB is cheaper at 0.03% per year. On volatility, VB has been the lower-risk option at 3.36%. 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 7.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VB is cheaper with a 0.03% expense ratio, compared with 0.83% for OVS.
OVS has the higher dividend yield at 7.69%, compared with 1.22% for VB.
They also come from different issuers: Liquid Strategies and Vanguard. Their fees differ too: 0.83% for OVS and 0.03% for VB.
OVS currently has the higher Sharpe Ratio (1.91 vs 1.46), 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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