Overlay Shares Small Cap Equity ETF (OVS) Performance
OVS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +17.3% since Dec 31, 2025
- 1 year
- +18.2% total return
- 5 years
- +5.8% a year
- Since first price
- +11.2% a year since 2019
OVS trailing returns vs SPY, QQQ, AGG
| Period | OVS total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.4% | −1.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −4.1% | −6.6% | +3.2% | +1.9% | −0.4% |
| 6 months | +2.3% | −2.8% | +7.8% | +8.4% | −1.5% |
| YTD | +17.3% | +8.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +18.2% | +7.9% | +14.4% | +15.9% | −1.1% |
| 3 years | +72.2%+19.9%/yr | +46.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +32.3%+5.8%/yr | +3.9% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionOct 1, 2019 | +111.1%+11.2%/yr | +57.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: OVS vs SPY
From Oct 1, 2019: OVS grew to $21,106, SPY to $28,643.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
OVS returns by calendar year
5 of 6 full years positive. Best 2021 (+30.1%), worst 2022 (−20.0%). 2026 is year to date.
OVS annual returns table
| Year | OVS | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +17.3% | −9.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +6.2% | −26.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +11.1% | −9.8% | +24.9% | +25.6% | +1.3% |
| 2023 | +17.2% | −19.7% | +26.2% | +54.9% | +5.7% |
| 2022 | −20.0% | −28.8% | −18.2% | −32.6% | −13.0% |
| 2021 | +30.1% | −10.2% | +28.7% | +27.4% | −1.8% |
| 2020 | +12.2% | −45.1% | +18.3% | +48.6% | +7.5% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
OVS largest drawdowns
Now 8.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 16, 2020 | −45.1% | Mar 23, 2020 | Nov 23, 2020 | 2 months | 10 months |
| Nov 25, 2024 | −30.5% | Apr 8, 2025 | Jan 6, 2026 | 4 months | 1.1 years |
| Nov 5, 2021 | −30.4% | Sep 30, 2022 | Jul 16, 2024 | 11 months | 2.7 years |
| Jun 8, 2021 | −10.2% | Jul 19, 2021 | Nov 1, 2021 | 41 days | 5 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
OVS risk statistics
| Statistic | 3 years | 5 years | Since 2019 |
|---|---|---|---|
| Annualized return | +16.6% | +6.3% | +10.5% |
| Volatility (annualized) | 20.6% | 22.2% | 24.0% |
| Sharpe ratio | 0.64 | 0.22 | 0.42 |
| Sortino ratio | 1.12 | 0.35 | 0.65 |
| Best month | +13.3% | +13.5% | +19.4% |
| Worst month | −8.8% | −11.7% | −21.1% |
| Best 12 months | +44.1% | +44.1% | +104.2% |
| Worst 12 months | −5.6% | −22.9% | −22.9% |
| Positive months | 58% | 53% | 59% |
| Beta vs S&P 500 | 1.22 | 1.17 | — |
| Correlation with S&P 500 | 0.74 | 0.83 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
OVS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 73 | −22.9% | +10.1% | +104.2% | 70% |
| 3-year (a year) | 49 | −0.8% | +8.7% | +22.3% | 96% |
| 5-year (a year) | 25 | +4.7% | +9.4% | +15.7% | 100% |
Every holding period starting at a month-end since 2019. Returns for 3 years and longer are annualized.
OVS performance overview
Overlay Shares Small Cap Equity ETF (OVS) returned +18.2% over the past year and +5.8% a year over five years, with distributions reinvested. Since its first recorded price in 2019 it has returned +11.2% a year, turning $10,000 into about $21,106. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −45.1%, from Jan 16, 2020 to Mar 23, 2020, and it took 8 months to get back to the old high. OVS finished 5 of its 6 full calendar years with a gain; the best year was 2021 (+30.1%) and the worst 2022 (−20.0%). Volatility has been 24.0% a year.
Related: OVS chart, OVS dividends. See the OVS overview for the latest quote and fund facts.
OVS performance FAQ
What is the OVS return over the past year?
OVS returned +18.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 7.9%.
What is the average annual return of OVS?
OVS has returned +5.8% a year over 5 years, +11.2% a year since October 1, 2019 (total return, distributions reinvested).
How much would $10,000 invested in OVS be worth?
$10,000 invested in OVS at its first recorded close on October 1, 2019 would be worth about $21,106 on October 23, 2026 with distributions reinvested.
What was the worst year for OVS?
The worst calendar year was 2022, with a total return of −20.0%. The best was 2021 at +30.1%.
What is the biggest drawdown of OVS?
The largest peak-to-trough decline was −45.1% between January 16, 2020 and March 23, 2020. It recovered to the old high on November 23, 2020, 8 months after the bottom.
How volatile is OVS?
Over the past 3 years OVS had an annualized volatility of 20.6% and a Sharpe ratio of 0.64 (excess return over 1–3 month T-bills per unit of risk).