RWK vs. OVS
Compare and contrast key facts about Invesco S&P MidCap 400 Revenue ETF (RWK) and Overlay Shares Small Cap Equity ETF (OVS).
RWK and OVS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RWK is a passively managed fund by Invesco that tracks the performance of the S&P MidCap 400 Revenue-Weighted Index. It was launched on Feb 22, 2008. OVS is an actively managed fund by Liquid Strategies. It was launched on Sep 30, 2019.
Performance
RWK vs. OVS - Performance Comparison
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RWK vs. OVS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RWK Invesco S&P MidCap 400 Revenue ETF | 2.68% | 10.27% | 11.94% | 23.76% | -8.19% | 34.31% | 11.06% | 11.79% |
OVS Overlay Shares Small Cap Equity ETF | 4.70% | 6.15% | 11.07% | 17.20% | -19.99% | 30.15% | 12.16% | 11.51% |
Returns By Period
In the year-to-date period, RWK achieves a 2.68% return, which is significantly lower than OVS's 4.70% return.
RWK
- 1D
- 0.91%
- 1M
- -3.93%
- YTD
- 2.68%
- 6M
- 3.96%
- 1Y
- 20.68%
- 3Y*
- 14.00%
- 5Y*
- 9.70%
- 10Y*
- 11.75%
OVS
- 1D
- 3.03%
- 1M
- -3.86%
- YTD
- 4.70%
- 6M
- 6.98%
- 1Y
- 23.91%
- 3Y*
- 12.01%
- 5Y*
- 4.50%
- 10Y*
- —
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RWK vs. OVS - Expense Ratio Comparison
RWK has a 0.39% expense ratio, which is lower than OVS's 0.83% expense ratio.
Return for Risk
RWK vs. OVS — Risk / Return Rank
RWK
OVS
RWK vs. OVS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400 Revenue ETF (RWK) and Overlay Shares Small Cap Equity ETF (OVS). 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.
| RWK | OVS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.94 | 0.96 | -0.02 |
Sortino ratioReturn per unit of downside risk | 1.50 | 1.48 | +0.02 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.20 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.52 | 1.56 | -0.03 |
Martin ratioReturn relative to average drawdown | 5.34 | 6.45 | -1.11 |
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
| RWK | OVS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 0.96 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.19 | +0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.37 | +0.08 |
Correlation
The correlation between RWK and OVS is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
RWK vs. OVS - Dividend Comparison
RWK's dividend yield for the trailing twelve months is around 1.24%, less than OVS's 6.32% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RWK Invesco S&P MidCap 400 Revenue ETF | 1.24% | 1.25% | 1.11% | 1.05% | 1.18% | 0.85% | 0.96% | 1.09% | 1.22% | 0.99% | 1.30% | 0.92% |
OVS Overlay Shares Small Cap Equity ETF | 6.32% | 3.69% | 4.08% | 3.19% | 3.43% | 4.05% | 1.74% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
RWK vs. OVS - Drawdown Comparison
The maximum RWK drawdown since its inception was -56.49%, which is greater than OVS's maximum drawdown of -45.09%. Use the drawdown chart below to compare losses from any high point for RWK and OVS.
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Drawdown Indicators
| RWK | OVS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.49% | -45.09% | -11.40% |
Max Drawdown (1Y)Largest decline over 1 year | -14.17% | -15.95% | +1.78% |
Max Drawdown (5Y)Largest decline over 5 years | -24.58% | -30.49% | +5.91% |
Max Drawdown (10Y)Largest decline over 10 years | -46.20% | — | — |
Current DrawdownCurrent decline from peak | -6.85% | -5.40% | -1.45% |
Average DrawdownAverage peak-to-trough decline | -7.60% | -11.63% | +4.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 3.85% | +0.19% |
Volatility
RWK vs. OVS - Volatility Comparison
The current volatility for Invesco S&P MidCap 400 Revenue ETF (RWK) is 5.93%, while Overlay Shares Small Cap Equity ETF (OVS) has a volatility of 6.99%. This indicates that RWK experiences smaller price fluctuations and is considered to be less risky than OVS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RWK | OVS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.93% | 6.99% | -1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 12.15% | 14.80% | -2.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.99% | 24.98% | -2.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.14% | 23.35% | -2.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.93% | 27.72% | -4.79% |