PATN vs. OVF

Last updated Aug 4, 2026

PATN (Pacer Nasdaq International Patent Leaders ETF) and OVF (Overlay Shares Foreign Equity ETF) are both Foreign Large Cap Equities funds. PATN is passively managed, while OVF is actively managed. Over the past year, PATN returned 53.28% vs 29.76% for OVF. Their correlation of 0.89 means they have usually moved in the same direction. PATN charges 0.65%/yr vs 0.95%/yr for OVF.

Performance

PATN vs. OVF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Nasdaq International Patent Leaders ETF (PATN) and Overlay Shares Foreign Equity ETF (OVF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PATN achieves a 28.74% return, which is significantly higher than OVF's 14.33% return.

PATN

• 1D: 0.61%
• 1M: -3.34%
• 6M: 17.25%
• YTD: 28.74%
• 1Y: 53.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 35.65%

OVF

• 1D: 0.48%
• 1M: 0.37%
• 6M: 7.11%
• YTD: 14.33%
• 1Y: 29.76%
• 3Y*: 19.48%
• 5Y*: 9.02%
• 10Y*: —
• ALL TIME*: 9.21%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
OVF Overlay Shares Foreign Equity ETF	$899.09K	$736.19K	$585.89K
PATN Pacer Nasdaq International Patent Leaders ETF	$6.30M	$4.83M	$3.83M

PATN vs. OVF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PATN Pacer Nasdaq International Patent Leaders ETF	28.74%	40.01%	-1.73%
OVF Overlay Shares Foreign Equity ETF	14.33%	33.03%	-6.00%

Correlation

The correlation between PATN and OVF is 0.88, 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.	0.88
Correlation (All Time) Calculated using the full available price history since Sep 17, 2024	0.89

The correlation between PATN and OVF has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

PATN vs. OVF - Sectors Allocation Comparison

Sectors	PATN	OVF
Technology	43.9%	20.5%
Industrials	17.5%	16.6%
Consumer Cyclical	10.5%	8.0%
Healthcare	9.5%	8.2%
Communication Services	7.0%	4.7%
Consumer Defensive	6.2%	5.5%
Basic Materials	3.2%	6.2%
Energy	0.9%	3.2%
Financial Services	0.7%	21.6%
Real Estate	-	2.5%
Utilities	-	3.1%

Return for Risk

PATN vs. OVF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PATN

PATN Risk / Return Rank: 83
PATN Sharpe Ratio Rank: 85
PATN Sortino Ratio Rank: 79
PATN Omega Ratio Rank: 83
PATN Calmar Ratio Rank: 88
PATN Martin Ratio Rank: 82

OVF

OVF Risk / Return Rank: 70
OVF Sharpe Ratio Rank: 69
OVF Sortino Ratio Rank: 66
OVF Omega Ratio Rank: 68
OVF Calmar Ratio Rank: 71
OVF Martin Ratio Rank: 74

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PATN vs. OVF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Nasdaq International Patent Leaders ETF (PATN) and Overlay Shares Foreign Equity ETF (OVF). 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.

	PATN	OVF	Difference
Sharpe ratio: Return per unit of total volatility	2.11	1.63	+0.49
Sortino ratio: Return per unit of downside risk	2.71	2.24	+0.46
Omega ratio: Gain probability vs. loss probability	1.38	1.30	+0.08
Calmar ratio: Return relative to maximum drawdown	3.72	2.57	+1.15
Martin ratio: Return relative to average drawdown	11.66	9.57	+2.10

PATN vs. OVF - Sharpe Ratio Comparison

The current PATN Sharpe Ratio is 2.11, which is comparable to the OVF Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of PATN and OVF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PATN vs. OVF - Drawdown Comparison

The maximum PATN drawdown since its inception was -16.77%, smaller than the maximum OVF drawdown of -30.07%. Use the drawdown chart below to compare losses from any high point for PATN and OVF.

Drawdown Indicators

	PATN	OVF	Difference
Max Drawdown Largest peak-to-trough decline	-16.77%	-30.07%	+13.30%
Max Drawdown (1Y) Largest decline over 1 year	-14.40%	-11.64%	-2.76%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.89%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-30.07%	—
Current Drawdown Current decline from peak	-9.34%	-1.34%	-8.00%
Average Drawdown Average peak-to-trough decline	-3.44%	-7.32%	+3.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.58%	3.12%	+1.46%

Volatility

PATN vs. OVF - Volatility Comparison

Pacer Nasdaq International Patent Leaders ETF (PATN) has a higher volatility of 8.80% compared to Overlay Shares Foreign Equity ETF (OVF) at 6.02%. This indicates that PATN's price experiences larger fluctuations and is considered to be riskier than OVF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PATN	OVF	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.80%	6.02%	+2.78%
Volatility (6M) Calculated over the trailing 6-month period	22.85%	15.98%	+6.87%
Volatility (1Y) Calculated over the trailing 1-year period	25.38%	18.39%	+6.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.70%	16.21%	+6.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.70%	17.26%	+5.44%

PATN vs. OVF - Expense Ratio Comparison

PATN has a 0.65% expense ratio, which is lower than OVF's 0.95% expense ratio.

Dividends

PATN vs. OVF - Dividend Comparison

PATN's dividend yield for the trailing twelve months is around 1.69%, less than OVF's 9.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
OVF Overlay Shares Foreign Equity ETF	9.75%	6.32%	5.13%	5.17%	4.50%	4.88%	2.55%	2.12%
PATN Pacer Nasdaq International Patent Leaders ETF	1.69%	2.25%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PATN and OVF in my portfolio?

PATN and OVF have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PATN or OVF?

PATN has higher volatility (8.80%) compared to OVF (6.02%). In terms of maximum drawdown, PATN dropped -16.77% vs OVF's -30.07%.

Which ETF is better, PATN or OVF?

On 1-year performance, PATN leads with 53.28% vs 29.76% for OVF. On fees, PATN is cheaper at 0.65% per year. On volatility, OVF has been the lower-risk option at 6.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PATN or OVF?

Over the 1-year period, PATN has performed better with a 53.28% return vs 29.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PATN or OVF?

PATN is cheaper with a 0.65% expense ratio, compared with 0.95% for OVF.

Which ETF pays a higher dividend yield, PATN or OVF?

OVF has the higher dividend yield at 9.75%, compared with 1.69% for PATN.

What is the main difference between PATN and OVF?

They also come from different issuers: Pacer and Liquid Strategies. Their fees differ too: 0.65% for PATN and 0.95% for OVF.

Which has better risk-adjusted returns?

PATN currently has the higher Sharpe Ratio (2.11 vs 1.63), 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.