PAYG.TO vs. OVL

Last updated Jun 4, 2026

PAYG.TO (Brompton Global Equity HighPay ETF) and OVL (Overlay Shares Large Cap Equity ETF) are both exchange-traded funds - PAYG.TO is a Global Equity Income fund actively managed by Brompton, while OVL is a Large Cap Growth Equities fund actively managed by Liquid Strategies. Both are actively managed. A 0.67 correlation means they provide meaningful diversification when combined.

Performance

PAYG.TO vs. OVL - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Brompton Global Equity HighPay ETF (PAYG.TO) and Overlay Shares Large Cap Equity ETF (OVL). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PAYG.TO is traded in CAD, while OVL is traded in USD. To make them comparable, the OVL values have been converted to CAD using the latest available exchange rates.

Returns By Period

PAYG.TO

• 1D: -0.94%
• 1M: 4.25%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

OVL

• 1D: -0.54%
• 1M: 7.35%
• YTD: 14.64%
• 6M: 12.72%
• 1Y: 34.96%
• 3Y*: 25.70%
• 5Y*: 17.53%
• 10Y*: —

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

PAYG.TO vs. OVL - Yearly Performance Comparison

	2026 (YTD)
PAYG.TO Brompton Global Equity HighPay ETF	18.04%
OVL Overlay Shares Large Cap Equity ETF	16.50%

Correlation

The correlation between PAYG.TO and OVL is 0.67, 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 Apr 1, 2026	0.67

Return for Risk

PAYG.TO vs. OVL — Risk / Return Rank

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

OVL

OVL Risk / Return Rank: 74
OVL Sharpe Ratio Rank: 72
OVL Sortino Ratio Rank: 69
OVL Omega Ratio Rank: 70
OVL Calmar Ratio Rank: 75
OVL Martin Ratio Rank: 83

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.

PAYG.TO vs. OVL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brompton Global Equity HighPay ETF (PAYG.TO) and Overlay Shares Large Cap Equity ETF (OVL). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	PAYG.TO	OVL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.55	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	6.88	0.92	+5.95

Drawdowns

PAYG.TO vs. OVL - Drawdown Comparison

The maximum PAYG.TO drawdown since its inception was -3.03%, smaller than the maximum OVL drawdown of -30.04%. Use the drawdown chart below to compare losses from any high point for PAYG.TO and OVL.

Drawdown Indicators

	PAYG.TO	OVL	Difference
Max Drawdown Largest peak-to-trough decline	-3.03%	-30.04%	+27.01%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.12%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.62%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.33%	—
Current Drawdown Current decline from peak	-2.32%	-0.54%	-1.78%
Average Drawdown Average peak-to-trough decline	-0.93%	-5.60%	+4.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.12%	—

Volatility

Volatility by Period

	PAYG.TO	OVL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.93%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.38%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.17%	13.79%	+10.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.17%	17.89%	+6.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.17%	20.40%	+3.77%

Dividends

PAYG.TO vs. OVL - Dividend Comparison

PAYG.TO's dividend yield for the trailing twelve months is around 2.91%, less than OVL's 6.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
OVL Overlay Shares Large Cap Equity ETF	6.18%	2.99%	3.10%	3.33%	3.85%	3.63%	2.43%	0.50%
PAYG.TO Brompton Global Equity HighPay ETF	2.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PAYG.TO and OVL in my portfolio?

PAYG.TO and OVL have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between PAYG.TO and OVL?

PAYG.TO is categorized as Global Equity Income, while OVL is Large Cap Growth Equities. They also come from different issuers: Brompton and Liquid Strategies.