XJR vs. OVS
XJR (iShares ESG Screened S&P Small-Cap ETF) and OVS (Overlay Shares Small Cap Equity ETF) are both Small Cap Blend Equities funds. XJR is passively managed, while OVS is actively managed. Over the past 5 years, XJR returned 7.17%/yr vs 7.56%/yr for OVS. Their 0.98 correlation means they have historically moved very closely together. XJR charges 0.12%/yr vs 0.83%/yr for OVS.
Performance
XJR vs. OVS - Performance Comparison
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Returns By Period
In the year-to-date period, XJR achieves a 21.53% return, which is significantly lower than OVS's 23.16% return.
XJR
- 1D
- -0.12%
- 1M
- -0.71%
- 6M
- 15.81%
- YTD
- 21.53%
- 1Y
- 33.14%
- 3Y*
- 13.33%
- 5Y*
- 7.17%
- 10Y*
- —
- ALL TIME*
- 15.09%
OVS
- 1D
- 0.06%
- 1M
- -0.72%
- 6M
- 16.06%
- YTD
- 23.16%
- 1Y
- 38.98%
- 3Y*
- 14.61%
- 5Y*
- 7.56%
- 10Y*
- —
- ALL TIME*
- 12.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $632.13K | $526.77K | $451.76K | |
| $397.40K | $346.04K | $432.61K |
XJR vs. OVS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XJR iShares ESG Screened S&P Small-Cap ETF | 21.53% | 4.73% | 9.59% | 16.39% | -17.30% | 24.96% | 35.61% |
OVS Overlay Shares Small Cap Equity ETF | 23.16% | 6.15% | 11.07% | 17.20% | -19.99% | 30.15% | 37.22% |
Correlation
The correlation between XJR and OVS is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | 0.98 |
The correlation between XJR and OVS has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
XJR vs. OVS - Sectors Allocation Comparison
Sectors
XJR
OVS
Financial Services
Technology
Industrials
Consumer Cyclical
Healthcare
Real Estate
Basic Materials
Consumer Defensive
Communication Services
Energy
Utilities
Financial Services
XJR
OVS
Technology
XJR
OVS
Industrials
XJR
OVS
Consumer Cyclical
XJR
OVS
Healthcare
XJR
OVS
Real Estate
XJR
OVS
Basic Materials
XJR
OVS
Consumer Defensive
XJR
OVS
Communication Services
XJR
OVS
Energy
XJR
OVS
Utilities
XJR
OVS
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Return for Risk
XJR vs. OVS — Risk / Return Rank
XJR
OVS
XJR vs. OVS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG Screened S&P Small-Cap ETF (XJR) 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.
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.
| XJR | OVS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.33 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.33 | 4.30 | -0.98 |
| Martin ratioReturn relative to average drawdown | 10.84 | 14.13 | -3.28 |
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Drawdowns
XJR vs. OVS - Drawdown Comparison
The maximum XJR drawdown since its inception was -27.14%, smaller than the maximum OVS drawdown of -45.09%. Use the drawdown chart below to compare losses from any high point for XJR and OVS.
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Drawdown Indicators
| XJR | OVS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.14% | -45.09% | +17.95% |
Max Drawdown (1Y)Largest decline over 1 year | -9.43% | -8.51% | -0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -27.14% | -30.49% | +3.35% |
Max Drawdown (5Y)Largest decline over 5 years | -27.14% | -30.49% | +3.35% |
Current DrawdownCurrent decline from peak | -2.18% | -2.23% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -9.25% | -11.12% | +1.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 2.59% | +0.30% |
Volatility
XJR vs. OVS - Volatility Comparison
The current volatility for iShares ESG Screened S&P Small-Cap ETF (XJR) is 3.74%, while Overlay Shares Small Cap Equity ETF (OVS) has a volatility of 4.16%. This indicates that XJR 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
| XJR | OVS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.74% | 4.16% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 12.25% | 12.91% | -0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.74% | 19.22% | -1.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.30% | 23.08% | -1.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.57% | 27.26% | -5.69% |
XJR vs. OVS - Expense Ratio Comparison
XJR has a 0.12% expense ratio, which is lower than OVS's 0.83% expense ratio.
Dividends
XJR vs. OVS - Dividend Comparison
XJR's dividend yield for the trailing twelve months is around 0.94%, less than OVS's 7.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
OVS Overlay Shares Small Cap Equity ETF | 7.69% | 3.69% | 4.08% | 3.19% | 3.43% | 4.05% | 1.74% | 0.54% |
XJR iShares ESG Screened S&P Small-Cap ETF | 0.94% | 1.14% | 1.96% | 0.92% | 1.29% | 2.00% | 0.58% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, XJR 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.
OVS has higher volatility (4.16%) compared to XJR (3.74%). In terms of maximum drawdown, XJR dropped -27.14% vs OVS's -45.09%.
On 5-year performance, OVS leads with 7.56% vs 7.17% for XJR. On fees, XJR is cheaper at 0.12% per year. On volatility, XJR has been the lower-risk option at 3.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OVS has performed better with a 7.56% return vs 7.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XJR is cheaper with a 0.12% expense ratio, compared with 0.83% for OVS.
OVS has the higher dividend yield at 7.69%, compared with 0.94% for XJR.
They also come from different issuers: iShares and Liquid Strategies. Their fees differ too: 0.12% for XJR and 0.83% for OVS.
OVS currently has the higher Sharpe Ratio (1.91 vs 1.77), 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.
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