OVS vs SPY
Overlay Shares Small Cap Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, OVS or SPY?
Small Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | OVS | SPY |
|---|---|---|
| Expense Ratio | 0.83% | 0.09%Best |
| AUM | $39M | $804.7B |
| Dividend Yield | 8.39% | 0.98% |
| Holdings | 11 | 505 |
| YTD Return | +10.58% | +11.52%Best |
| 1Y Return | +14.15% | +17.48%Best |
| 3Y Return (annualized) | +13.16% | +20.62%Best |
| 5Y Return (annualized) | +5.24% | +12.73%Best |
| Volatility (annualized) | 23.8% | 16.8%Best |
| Max Drawdown | -45.1% | -34.1%Best |
| $10,000 over 5 years | $12,909 | $18,205Best |
| Fund Family | Overlay Shares | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | Sep 30, 2019 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Oct 1, 2019 to Sep 10, 2026 (6.9 years).
OVS vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 6.9 years both funds cover.
OVS vs SPY Performance
Overlay Shares Small Cap Equity ETF (OVS) is an ETF from Overlay Shares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year OVS returned +14.15% while SPY returned +17.48%. Year to date, OVS is up 10.58% versus a gain of 11.52% for SPY.
Over three years, OVS compounded at +13.16% per year against +20.62% for SPY; over five years the annualized figures are +5.24% and +12.73% respectively. Across the full 7-year window we track, SPY has the edge at +15.88% annualized vs +10.28%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
OVS has been the more volatile fund, with annualized monthly volatility of 23.8% compared with 16.8% for SPY. 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 -45.1% for OVS and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
OVS charges 0.83% per year while SPY charges 0.09%. On a $10,000 position that is $83 vs $9 annually, a gap of $74 per year that compounds over a long holding period. On income, OVS currently yields 8.39% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 2 holdings in OVS and 504 in SPY, totalling 100.1% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 2 positions we hold weights for in OVS and 504 in SPY, against full books of 11 and 505.
You are not choosing between two funds in isolation.
Whichever of OVS and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, OVS or SPY?
OVS has an expense ratio of 0.83% while SPY charges 0.09%. SPY is the cheaper option, by $74 a year on a $10,000 investment.
Which performed better, OVS or SPY?
Over the past year OVS returned +14.15% vs +17.48% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (7 years), OVS annualized +10.28% vs +15.88% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, OVS or SPY?
OVS has been the more volatile fund at 23.8% annualized versus 16.8% for SPY. Worst drawdown: OVS -45.1% vs SPY -34.1%.
Should I hold both OVS and SPY?
OVS and SPY have a monthly-return correlation of 0.85, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, OVS or SPY?
OVS yields 8.39% while SPY yields 0.98%, so OVS currently pays the higher dividend yield.
Is SPY better than OVS?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.