OVL
Overlay Shares Large Cap Equity ETF
OVL is actively managed to provide exposure to large cap U.S. equities combined with a put spread option overlay strategy.
US
EQUITY
Active
MANAGEMENT STYLE
$ 282.7 M
ASSETS UNDER MGMT
87 bp
EXPENSES
Fund Basics
| Inception date | Sep 30, 2019 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Annually |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | Yes |
| Options available | No |
| Currency hedged | No |
| Fund of funds | Yes |
Top 10 Holdings
| VANGUARD S&P 500 ETF | 99.3 % |
| CASH & OTHER | 0.9 % |
| SPXW US 06/11/26 P7500 | 0.1 % |
| SPXW US 06/10/26 P7500 | 0.1 % |
| SPXW US 06/09/26 P7500 | 0.0 % |
| SPXW US 06/08/26 P7500 | 0.0 % |
| SPXW US 06/08/26 P7575 | -0.1 % |
| SPXW US 06/09/26 P7575 | -0.1 % |
| SPXW US 06/10/26 P7575 | -0.1 % |
| SPXW US 06/11/26 P7575 | -0.1 % |
Constituent Breakdown
| Number of holdings | 1 |
| Herfindahl-Hirschman Index | 216 |
| Wgt avg mkt cap (mns) | $1,345,482 |
| Large cap (>$10bn) | 98.7% |
| Mid cap ($2-10bn) | 0.4% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 99.0% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 96.2 % |
 |
IRELAND | 1.5 % |
Historical Performance
Standardized Performance (as of 05/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 9.1% | 26.6% | 17.2% | 20.1% | 9.9% | -- | -- | 13.7% |
| Dividend Yield | 4.8% | 8.8% | 6.0% | 5.5% | 4.7% | -- | -- | 4.4% |
| Total Returns | 13.9% | 35.4% | 23.2% | 25.6% | 14.6% | -- | -- | 18.0% | Ann. Volatility | 15.6% | 14.0% | 20.5% | 18.5% | 19.8% | -- | -- | 22.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.17 | 97% |
| MSCI EAFE | 0.68 | 54% |
| MSCI Emg Mkts | 0.52 | 54% |
Liquidity Measures
| Avg. volume (000) | 88 |
| ADV traded (mns) | $5 |
| Turnover | 1.8% |
| Avg. Bid/Ask (% of price) | 0.11% |
Technical Indicators
| 30d moving avg. (EMA) | $56.18 |
| Relative strength (RSI) | 56 |
| MACD/Signal | 0.25/0.58 |
| Bollinger Bands (Upper/Lower) | $58.60/$55.24 |
| Short interest (% of AUM) | 0.1% |
Distributions
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. OVL |
Expenses vs. OVL |
ALTAR Score™ vs. OVL |
|---|---|---|---|---|
| EDGX | Global X U.S. 500 Income Edge ETF | 36.9% | -87 bp | +0.9% |
Risk and Returns: OVL vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
Content on this tab for Individual & Professional subscribers only. Start your FREE trial
Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 6/17/2026
Peer Group Comparison
Sample data. Subscribe for access.
Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
Some content on this tab for Individual & Professional subscribers only. Start your FREE trial
ETF Research Center Rating
4.1%
ALTAR SCORE™
28th
PERCENTILE
UNDERWEIGHT
ETFRC RATING
There are 1,397 funds in the US Equity category with an average
ALTAR Score™ of 5.3% and a standard deviation
of 2.1%. OVL's ALTAR Score™ is approximately -0.6 standard
deviations above the category average. This places OVL in the 28th percentile
among funds in the category.
Sell-Side Consensus
$64.54
PRICE TARGET
+12.8%
UPSIDE