STXK vs. OVS

Last updated Jun 4, 2026

STXK (Strive Small-Cap ETF) and OVS (Overlay Shares Small Cap Equity ETF) are both Small Cap Blend Equities funds. STXK is passively managed, while OVS is actively managed. Over the past 3 years, STXK returned 14.24%/yr vs 16.07%/yr for OVS. With a 0.97 correlation, they move nearly in lockstep. STXK charges 0.18%/yr vs 0.83%/yr for OVS.

Performance

STXK vs. OVS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strive Small-Cap ETF (STXK) and Overlay Shares Small Cap Equity ETF (OVS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, STXK achieves a 10.46% return, which is significantly lower than OVS's 17.65% return.

STXK

• 1D: -0.89%
• 1M: 2.04%
• YTD: 10.46%
• 6M: 9.14%
• 1Y: 25.86%
• 3Y*: 14.24%
• 5Y*: —
• 10Y*: —

OVS

• 1D: -0.98%
• 1M: 2.07%
• YTD: 17.65%
• 6M: 16.54%
• 1Y: 36.35%
• 3Y*: 16.07%
• 5Y*: 6.01%
• 10Y*: —

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

STXK vs. OVS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
STXK Strive Small-Cap ETF	10.46%	7.82%	9.47%	20.15%	-4.99%
OVS Overlay Shares Small Cap Equity ETF	17.65%	6.15%	11.07%	17.20%	-5.37%

Correlation

The correlation between STXK and OVS is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (All Time) Calculated using the full available price history since Nov 11, 2022	0.97

The correlation between STXK and OVS has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

STXK vs. OVS - Sectors Allocation Comparison

Sectors	STXK	OVS
Technology	16.4%	15.3%
Financial Services	15.8%	17.0%
Industrials	14.6%	15.3%
Consumer Cyclical	13.5%	13.4%
Healthcare	12.2%	11.0%
Real Estate	7.4%	7.7%
Energy	7.0%	6.0%
Basic Materials	4.5%	5.2%
Utilities	3.2%	2.0%
Consumer Defensive	3.1%	3.6%
Communication Services	2.2%	3.6%

Return for Risk

STXK vs. OVS — Risk / Return Rank

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

STXK

STXK Risk / Return Rank: 48
STXK Sharpe Ratio Rank: 45
STXK Sortino Ratio Rank: 46
STXK Omega Ratio Rank: 42
STXK Calmar Ratio Rank: 54
STXK Martin Ratio Rank: 54

OVS

OVS Risk / Return Rank: 64
OVS Sharpe Ratio Rank: 56
OVS Sortino Ratio Rank: 57
OVS Omega Ratio Rank: 52
OVS Calmar Ratio Rank: 81
OVS Martin Ratio Rank: 74

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.

STXK vs. OVS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strive Small-Cap ETF (STXK) 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.

	STXK	OVS	Difference
Sharpe ratio Return per unit of total volatility	1.55	1.90	-0.36
Sortino ratio Return per unit of downside risk	2.29	2.71	-0.42
Omega ratio Gain probability vs. loss probability	1.27	1.33	-0.06
Calmar ratio Return relative to maximum drawdown	2.65	4.29	-1.64
Martin ratio Return relative to average drawdown	9.12	13.85	-4.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

STXK vs. OVS - Sharpe Ratio Comparison

The current STXK Sharpe Ratio is 1.55, which is comparable to the OVS Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of STXK and OVS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	STXK	OVS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	1.90	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.26	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.43	+0.16

Drawdowns

STXK vs. OVS - Drawdown Comparison

The maximum STXK drawdown since its inception was -27.12%, smaller than the maximum OVS drawdown of -45.09%. Use the drawdown chart below to compare losses from any high point for STXK and OVS.

Drawdown Indicators

	STXK	OVS	Difference
Max Drawdown Largest peak-to-trough decline	-27.12%	-45.09%	+17.97%
Max Drawdown (1Y) Largest decline over 1 year	-9.81%	-8.51%	-1.30%
Max Drawdown (3Y) Largest decline over 3 years	-27.12%	-30.49%	+3.37%
Max Drawdown (5Y) Largest decline over 5 years	—	-30.49%	—
Current Drawdown Current decline from peak	-1.10%	-0.98%	-0.12%
Average Drawdown Average peak-to-trough decline	-5.61%	-11.35%	+5.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	2.63%	+0.21%

Volatility

STXK vs. OVS - Volatility Comparison

The current volatility for Strive Small-Cap ETF (STXK) is 4.21%, while Overlay Shares Small Cap Equity ETF (OVS) has a volatility of 4.58%. This indicates that STXK 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.

Volatility by Period

	STXK	OVS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	4.58%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	11.55%	13.00%	-1.45%
Volatility (1Y) Calculated over the trailing 1-year period	16.86%	19.27%	-2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.12%	23.23%	-3.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.12%	27.47%	-7.35%

STXK vs. OVS - Expense Ratio Comparison

STXK has a 0.18% expense ratio, which is lower than OVS's 0.83% expense ratio.

Dividends

STXK vs. OVS - Dividend Comparison

STXK's dividend yield for the trailing twelve months is around 1.39%, less than OVS's 6.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
OVS Overlay Shares Small Cap Equity ETF	6.83%	3.69%	4.08%	3.19%	3.43%	4.05%	1.74%	0.54%
STXK Strive Small-Cap ETF	1.39%	1.29%	1.64%	1.14%	0.31%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both STXK and OVS in my portfolio?

With a correlation of 0.96, STXK and OVS 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.

Which is riskier, STXK or OVS?

OVS has higher volatility (4.58%) compared to STXK (4.21%). In terms of maximum drawdown, STXK dropped -27.12% vs OVS's -45.09%.

Which ETF is better, STXK or OVS?

On 3-year performance, OVS leads with 16.07% vs 14.24% for STXK. On fees, STXK is cheaper at 0.18% per year. On volatility, STXK has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, STXK or OVS?

Over the 3-year period, OVS has performed better with a 16.07% return vs 14.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, STXK or OVS?

STXK is cheaper with a 0.18% expense ratio, compared with 0.83% for OVS.

Which ETF pays a higher dividend yield, STXK or OVS?

OVS has the higher dividend yield at 6.83%, compared with 1.39% for STXK.

What is the main difference between STXK and OVS?

They also come from different issuers: Strive and Liquid Strategies. Their fees differ too: 0.18% for STXK and 0.83% for OVS.

Which has better risk-adjusted returns?

OVS currently has the higher Sharpe Ratio (1.90 vs 1.55), 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.