EDGU vs OVL
3EDGE Dynamic US Equity ETF vs Overlay Shares Large Cap Equity ETF
Which is better, EDGU or OVL?
Each has led over a different period.
OVL has a lower expense ratio. EDGU led over 1Y, OVL over the full window. The two have moved almost in lockstep, correlation 0.94.
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 | EDGU | OVL |
|---|---|---|
| Expense Ratio | 0.91% | 0.79%Best |
| AUM | $101M | $497M |
| Dividend Yield | 0.69% | 9.13% |
| Holdings | 30 | 16 |
| YTD Return | +11.37%Best | +6.54% |
| 1Y Return | +14.59%Best | +10.05% |
| 3Y Return (annualized) | - | +20.74% |
| 5Y Return (annualized) | - | +11.49% |
| Volatility (annualized) | 12.3%Best | 13.9% |
| Max Drawdown | -17.6%Best | -21.7% |
| $10,000 over 2 years | $12,796 | $12,857Best |
| Fund Family | 3 EDGE Asset Management | Overlay Shares |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Oct 3, 2024 | Sep 30, 2019 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2 years row, are measured over the window both funds cover: Oct 3, 2024 to Oct 14, 2026 (2 years).
EDGU 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 2 years both funds cover.
EDGU vs OVL Performance
3EDGE Dynamic US Equity ETF (EDGU) is an ETF from 3 EDGE Asset Management and Overlay Shares Large Cap Equity ETF (OVL) is an ETF from Overlay Shares. Over the past year EDGU returned +14.59% while OVL returned +10.05%. Year to date, EDGU is up 11.37% versus a gain of 6.54% for OVL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
OVL has been the more volatile fund, with annualized monthly volatility of 13.9% compared with 12.3% for EDGU. 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 -17.6% for EDGU 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 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
EDGU charges 0.91% per year while OVL charges 0.79%. On a $10,000 position that is $91 vs $79 annually, a gap of $12 per year that compounds over a long holding period. On income, EDGU currently yields 0.69% against 9.13% for OVL.
Holdings Overlap
At least 0.6% of EDGU's money is in holdings OVL also owns.
Stated as a floor: for OVL, our book for it covers 100.2% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 14 positions we hold weights for in EDGU and 2 in OVL, against full books of 30 and 16.
Top Shared Holdings
| Stock | Weight in EDGU | Weight in OVL | Difference |
|---|---|---|---|
| FGXXXFirst American Government Obligations Fund | 0.63% | 0.35% | 0.28% |
You are not choosing between two funds in isolation.
Whichever of EDGU 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, EDGU or OVL?
EDGU has an expense ratio of 0.91% while OVL charges 0.79%. OVL is the cheaper option, by $12 a year on a $10,000 investment.
Which performed better, EDGU or OVL?
Over the past year EDGU returned +14.59% vs +10.05% for OVL, so EDGU leads on 1-year performance. Over the longest common window we track (2 years), EDGU annualized +13.12% vs +13.39% for OVL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EDGU or OVL?
OVL has been the more volatile fund at 13.9% annualized versus 12.3% for EDGU. Worst drawdown: EDGU -17.6% vs OVL -21.7%.
Should I hold both EDGU and OVL?
EDGU and OVL have a monthly-return correlation of 0.94, 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, EDGU or OVL?
EDGU yields 0.69% while OVL yields 9.13%, so OVL currently pays the higher dividend yield.
Is OVL better than EDGU?
OVL has a lower expense ratio. EDGU led over 1Y, OVL over the full window. The two have moved almost in lockstep, correlation 0.94. Which one suits a particular account depends on what it is for. This is information, not a recommendation.