SPDV vs. OOSP

Last updated Jun 24, 2026

SPDV (AAM S&P 500 High Dividend Value ETF) and OOSP (Obra Opportunistic Structured Products ETF) are both exchange-traded funds - SPDV is a Dividend fund tracking the S&P 500 Dividend and Free Cash Flow Yield Index, while OOSP is a Multisector Bonds fund actively managed by Obra. SPDV is passively managed, while OOSP is actively managed. Over the past year, SPDV returned 24.69% vs 6.50% for OOSP. At a correlation of -0.06, they often move in opposite directions. SPDV charges 0.29%/yr vs 0.90%/yr for OOSP.

Performance

SPDV vs. OOSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM S&P 500 High Dividend Value ETF (SPDV) and Obra Opportunistic Structured Products ETF (OOSP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPDV achieves a 13.31% return, which is significantly higher than OOSP's 2.66% return.

SPDV

• 1D: 0.10%
• 1M: -0.63%
• YTD: 13.31%
• 6M: 13.16%
• 1Y: 24.69%
• 3Y*: 16.36%
• 5Y*: 9.01%
• 10Y*: —

OOSP

• 1D: 0.00%
• 1M: 0.36%
• YTD: 2.66%
• 6M: 2.82%
• 1Y: 6.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPDV vs. OOSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPDV AAM S&P 500 High Dividend Value ETF	13.31%	10.90%	7.84%
OOSP Obra Opportunistic Structured Products ETF	2.66%	7.41%	6.27%

Correlation

The correlation between SPDV and OOSP is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Apr 10, 2024	-0.06

Return for Risk

SPDV vs. OOSP — Risk / Return Rank

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

SPDV

SPDV Risk / Return Rank: 70
SPDV Sharpe Ratio Rank: 64
SPDV Sortino Ratio Rank: 69
SPDV Omega Ratio Rank: 62
SPDV Calmar Ratio Rank: 83
SPDV Martin Ratio Rank: 69

OOSP

OOSP Risk / Return Rank: 72
OOSP Sharpe Ratio Rank: 57
OOSP Sortino Ratio Rank: 59
OOSP Omega Ratio Rank: 67
OOSP Calmar Ratio Rank: 89
OOSP Martin Ratio Rank: 88

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.

SPDV vs. OOSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM S&P 500 High Dividend Value ETF (SPDV) and Obra Opportunistic Structured Products ETF (OOSP). 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.

	SPDV	OOSP	Difference
Sharpe ratio: Return per unit of total volatility	2.02	1.79	+0.23
Sortino ratio: Return per unit of downside risk	2.97	2.60	+0.37
Omega ratio: Gain probability vs. loss probability	1.36	1.38	-0.02
Calmar ratio: Return relative to maximum drawdown	4.28	4.97	-0.70
Martin ratio: Return relative to average drawdown	12.11	18.41	-6.30

SPDV vs. OOSP - Sharpe Ratio Comparison

The current SPDV Sharpe Ratio is 2.02, which is comparable to the OOSP Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of SPDV and OOSP, 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

SPDV vs. OOSP - Drawdown Comparison

The maximum SPDV drawdown since its inception was -43.81%, which is greater than OOSP's maximum drawdown of -1.31%. Use the drawdown chart below to compare losses from any high point for SPDV and OOSP.

Drawdown Indicators

	SPDV	OOSP	Difference
Max Drawdown Largest peak-to-trough decline	-43.81%	-1.31%	-42.50%
Max Drawdown (1Y) Largest decline over 1 year	-5.80%	-1.31%	-4.49%
Max Drawdown (3Y) Largest decline over 3 years	-18.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.31%	—	—
Current Drawdown Current decline from peak	-2.37%	0.00%	-2.37%
Average Drawdown Average peak-to-trough decline	-6.53%	-0.20%	-6.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	0.35%	+1.69%

Volatility

SPDV vs. OOSP - Volatility Comparison

AAM S&P 500 High Dividend Value ETF (SPDV) has a higher volatility of 3.66% compared to Obra Opportunistic Structured Products ETF (OOSP) at 0.39%. This indicates that SPDV's price experiences larger fluctuations and is considered to be riskier than OOSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPDV	OOSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.66%	0.39%	+3.27%
Volatility (6M) Calculated over the trailing 6-month period	8.33%	2.17%	+6.16%
Volatility (1Y) Calculated over the trailing 1-year period	12.31%	3.65%	+8.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.25%	3.32%	+12.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.28%	3.32%	+16.96%

SPDV vs. OOSP - Expense Ratio Comparison

SPDV has a 0.29% expense ratio, which is lower than OOSP's 0.90% expense ratio.

Dividends

SPDV vs. OOSP - Dividend Comparison

SPDV's dividend yield for the trailing twelve months is around 3.34%, less than OOSP's 6.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
OOSP Obra Opportunistic Structured Products ETF	6.45%	6.71%	5.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPDV AAM S&P 500 High Dividend Value ETF	3.34%	3.85%	3.54%	3.95%	3.73%	3.08%	3.90%	3.54%	3.63%	0.28%

Frequently Asked Questions

Can I hold both SPDV and OOSP in my portfolio?

SPDV and OOSP have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPDV or OOSP?

SPDV has higher volatility (3.66%) compared to OOSP (0.39%). In terms of maximum drawdown, SPDV dropped -43.81% vs OOSP's -1.31%.

Which ETF is better, SPDV or OOSP?

On 1-year performance, SPDV leads with 24.69% vs 6.50% for OOSP. On fees, SPDV is cheaper at 0.29% per year. On volatility, OOSP has been the lower-risk option at 0.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPDV or OOSP?

Over the 1-year period, SPDV has performed better with a 24.69% return vs 6.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPDV or OOSP?

SPDV is cheaper with a 0.29% expense ratio, compared with 0.90% for OOSP.

Which ETF pays a higher dividend yield, SPDV or OOSP?

OOSP has the higher dividend yield at 6.45%, compared with 3.34% for SPDV.

What is the main difference between SPDV and OOSP?

SPDV is categorized as Dividend, while OOSP is Multisector Bonds. They also come from different issuers: Advisors Asset Management and Obra. Their fees differ too: 0.29% for SPDV and 0.90% for OOSP.

Which has better risk-adjusted returns?

SPDV currently has the higher Sharpe Ratio (2.02 vs 1.79), 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.