OVL vs VOO
Overlay Shares Large Cap Equity ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | OVL | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.03% | |
| AUM | $398M | $997.4B | |
| Dividend Yield | 7.41% | 1.08% | |
| Holdings | 11 | 509 | |
| YTD Return | +7.03% | +12.25% | |
| 1Y Return | +15.83% | +20.92% | |
| 3Y Return (annualized) | +20.56% | +21.79% | |
| 5Y Return (annualized) | +11.55% | +13.05% | |
| Volatility (annualized) | 19.0% | 14.1% | |
| Max Drawdown | -35.5% | -34.3% | |
| Fund Family | Overlay Shares | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Sep 30, 2019 | Sep 7, 2010 |
OVL vs VOO Performance
Overlay Shares Large Cap Equity ETF (OVL) is a ETF from Overlay Shares and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year OVL returned +15.83% while VOO returned +20.92%. Year to date, OVL is up 7.03% versus a gain of 12.25% for VOO.
Over three years, OVL compounded at +20.56% per year against +21.79% for VOO; over five years the annualized figures are +11.55% and +13.05% respectively. Across the full 7-year window we track, OVL has the edge at +16.17% annualized vs +13.45%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
OVL has been the more volatile fund, with annualized monthly volatility of 19.0% compared with 14.1% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -35.5% for OVL and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
OVL charges 0.79% per year while VOO charges 0.03%. On a $10,000 position that is $79 vs $3 annually, a gap of $76 per year that compounds over a long holding period. On income, OVL currently yields 7.41% against 1.08% for VOO.
Holdings Overlap
OVL and VOO share 0 holdings out of 507 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, OVL or VOO?
OVL has an expense ratio of 0.79% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, OVL or VOO?
Over the past year OVL returned +15.83% vs +20.92% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (7 years), OVL annualized +16.17% vs +13.45% for VOO. Past performance does not guarantee future results.
Which is riskier, OVL or VOO?
OVL has been the more volatile fund at 19.0% annualized versus 14.1% for VOO. Worst drawdown: OVL -35.5% vs VOO -34.3%.
Should I hold both OVL and VOO?
OVL and VOO have a monthly-return correlation of 0.99, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between OVL and VOO?
OVL and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, OVL or VOO?
OVL yields 7.41% while VOO yields 1.08%, so OVL currently pays the higher dividend yield.
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