WCEO vs. OVS

Last updated Apr 1, 2026

Compare and contrast key facts about Hypatia Women Ceo ETF (WCEO) and Overlay Shares Small Cap Equity ETF (OVS).

WCEO and OVS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. WCEO is an actively managed fund by Hypatia Capital. It was launched on Jan 6, 2023. OVS is an actively managed fund by Liquid Strategies. It was launched on Sep 30, 2019.

Performance

WCEO vs. OVS - Performance Comparison

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

WCEO vs. OVS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WCEO Hypatia Women Ceo ETF	0.93%	9.77%	8.28%	11.35%
OVS Overlay Shares Small Cap Equity ETF	4.70%	6.15%	11.07%	14.27%

Returns By Period

In the year-to-date period, WCEO achieves a 0.93% return, which is significantly lower than OVS's 4.70% return.

WCEO

• 1D: 2.13%
• 1M: -3.98%
• YTD: 0.93%
• 6M: 2.84%
• 1Y: 20.34%
• 3Y*: 9.62%
• 5Y*: —
• 10Y*: —

OVS

• 1D: 3.03%
• 1M: -3.86%
• YTD: 4.70%
• 6M: 6.98%
• 1Y: 23.91%
• 3Y*: 12.01%
• 5Y*: 4.50%
• 10Y*: —

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

WCEO vs. OVS - Expense Ratio Comparison

WCEO has a 0.85% expense ratio, which is higher than OVS's 0.83% expense ratio.

WCEO

Hypatia Women Ceo ETF

OVS

Overlay Shares Small Cap Equity ETF

Return for Risk

WCEO vs. OVS — Risk / Return Rank

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

WCEO

WCEO Risk / Return Rank: 58
WCEO Sharpe Ratio Rank: 55
WCEO Sortino Ratio Rank: 59
WCEO Omega Ratio Rank: 54
WCEO Calmar Ratio Rank: 57
WCEO Martin Ratio Rank: 63

OVS

OVS Risk / Return Rank: 56
OVS Sharpe Ratio Rank: 52
OVS Sortino Ratio Rank: 56
OVS Omega Ratio Rank: 51
OVS Calmar Ratio Rank: 60
OVS Martin Ratio Rank: 63

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.

WCEO vs. OVS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hypatia Women Ceo ETF (WCEO) 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.

	WCEO	OVS	Difference
Sharpe ratio Return per unit of total volatility	0.98	0.96	+0.02
Sortino ratio Return per unit of downside risk	1.54	1.48	+0.06
Omega ratio Gain probability vs. loss probability	1.20	1.20	+0.01
Calmar ratio Return relative to maximum drawdown	1.46	1.56	-0.10
Martin ratio Return relative to average drawdown	6.30	6.45	-0.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WCEO vs. OVS - Sharpe Ratio Comparison

The current WCEO Sharpe Ratio is 0.98, which is comparable to the OVS Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of WCEO and OVS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	WCEO	OVS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.98	0.96	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.37	+0.14

Correlation

The correlation between WCEO and OVS is 0.95, 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

WCEO vs. OVS - Dividend Comparison

WCEO's dividend yield for the trailing twelve months is around 0.63%, less than OVS's 6.32% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
WCEO Hypatia Women Ceo ETF	0.63%	0.64%	0.88%	0.93%	0.00%	0.00%	0.00%	0.00%
OVS Overlay Shares Small Cap Equity ETF	6.32%	3.69%	4.08%	3.19%	3.43%	4.05%	1.74%	0.54%

Drawdowns

WCEO vs. OVS - Drawdown Comparison

The maximum WCEO drawdown since its inception was -25.88%, smaller than the maximum OVS drawdown of -45.09%. Use the drawdown chart below to compare losses from any high point for WCEO and OVS.

Drawdown Indicators

	WCEO	OVS	Difference
Max Drawdown Largest peak-to-trough decline	-25.88%	-45.09%	+19.21%
Max Drawdown (1Y) Largest decline over 1 year	-13.86%	-15.95%	+2.09%
Max Drawdown (5Y) Largest decline over 5 years	—	-30.49%	—
Current Drawdown Current decline from peak	-4.98%	-5.40%	+0.42%
Average Drawdown Average peak-to-trough decline	-5.75%	-11.63%	+5.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	3.85%	-0.64%

Volatility

WCEO vs. OVS - Volatility Comparison

The current volatility for Hypatia Women Ceo ETF (WCEO) is 5.11%, while Overlay Shares Small Cap Equity ETF (OVS) has a volatility of 6.99%. This indicates that WCEO 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

	WCEO	OVS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	6.99%	-1.88%
Volatility (6M) Calculated over the trailing 6-month period	11.03%	14.80%	-3.77%
Volatility (1Y) Calculated over the trailing 1-year period	20.85%	24.98%	-4.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.37%	23.35%	-4.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.37%	27.72%	-9.35%