DVSP vs OVL
WEBs SPY Defined Volatility ETF vs Overlay Shares Large Cap Equity ETF
Which is better, DVSP or OVL?
Nearly the same fund. OVL costs less.
OVL has a lower expense ratio. DVSP led over 1Y, OVL over the full window. The two have moved almost in lockstep, correlation 0.95.
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 | DVSP | OVL |
|---|---|---|
| Expense Ratio | 0.89% | 0.79%Best |
| AUM | $2M | $497M |
| Dividend Yield | 0.26% | 9.13% |
| Holdings | 8 | 16 |
| YTD Return | +10.86%Best | +7.04% |
| 1Y Return | +13.59%Best | +10.10% |
| 3Y Return (annualized) | - | +20.91% |
| 5Y Return (annualized) | - | +11.41% |
| Volatility (annualized) | 17.8% | 13.5%Best |
| Max Drawdown | -22.7% | -21.7%Best |
| $10,000 over 1.8 years | $12,078 | $12,117Best |
| Fund Family | WEBs Investments | Overlay Shares |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 16, 2024 | Sep 30, 2019 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 17, 2024 to Oct 15, 2026 (1.8 years).
DVSP vs OVL 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 1.8 years both funds cover.
DVSP vs OVL Performance
WEBs SPY Defined Volatility ETF (DVSP) is an ETF from WEBs Investments and Overlay Shares Large Cap Equity ETF (OVL) is an ETF from Overlay Shares. Over the past year DVSP returned +13.59% while OVL returned +10.10%. Year to date, DVSP is up 10.86% versus a gain of 7.04% for OVL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DVSP has been the more volatile fund, with annualized monthly volatility of 17.8% compared with 13.5% for OVL. 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 -22.7% for DVSP and -21.7% for OVL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DVSP charges 0.89% per year while OVL charges 0.79%. On a $10,000 position that is $89 vs $79 annually, a gap of $10 per year that compounds over a long holding period. On income, DVSP currently yields 0.26% against 9.13% for OVL.
Holdings Overlap
We hold position weights for 1 holding in DVSP and 2 in OVL, totalling 43.3% and 100.2% 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 1 positions we hold weights for in DVSP and 2 in OVL, against full books of 8 and 16.
You are not choosing between two funds in isolation.
Whichever of DVSP and OVL 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, DVSP or OVL?
DVSP has an expense ratio of 0.89% while OVL charges 0.79%. OVL is the cheaper option, by $10 a year on a $10,000 investment.
Which performed better, DVSP or OVL?
Over the past year DVSP returned +13.59% vs +10.10% for OVL, so DVSP leads on 1-year performance. Over the longest common window we track (2 years), DVSP annualized +11.06% vs +11.26% for OVL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DVSP or OVL?
DVSP has been the more volatile fund at 17.8% annualized versus 13.5% for OVL. Worst drawdown: DVSP -22.7% vs OVL -21.7%.
Should I hold both DVSP and OVL?
DVSP and OVL have a monthly-return correlation of 0.95, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, DVSP or OVL?
DVSP yields 0.26% while OVL yields 9.13%, so OVL currently pays the higher dividend yield.
Is OVL better than DVSP?
OVL has a lower expense ratio. DVSP led over 1Y, OVL over the full window. The two have moved almost in lockstep, correlation 0.95. Which one suits a particular account depends on what it is for. This is information, not a recommendation.