MEDX vs OVL
Horizon Kinetics Medical ETF vs Overlay Shares Large Cap Equity ETF
Which is better, MEDX or OVL?
Each has led over a different period.
OVL has a lower expense ratio. MEDX led over 1Y, OVL over 3Y 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 | MEDX | OVL |
|---|---|---|
| Expense Ratio | 0.85% | 0.79%Best |
| AUM | $16M | $497M |
| Dividend Yield | 1.16% | 9.13% |
| Holdings | 68 | 16 |
| YTD Return | +8.66%Best | +7.04% |
| 1Y Return | +15.44%Best | +10.10% |
| 3Y Return (annualized) | +10.34% | +20.91%Best |
| 5Y Return (annualized) | - | +11.41% |
| Volatility (annualized) | 14.2%Tie | 14.2%Tie |
| Max Drawdown | -21.6%Best | -21.7% |
| $10,000 over 3.7 years | $12,836 | $19,182Best |
| Fund Family | Horizon Kinetics LLC | Overlay Shares |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 27, 2023 | Sep 30, 2019 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.7 years row, are measured over the window both funds cover: Jan 31, 2023 to Oct 15, 2026 (3.7 years).
MEDX 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 3.7 years both funds cover.
MEDX vs OVL Performance
Horizon Kinetics Medical ETF (MEDX) is an ETF from Horizon Kinetics LLC and Overlay Shares Large Cap Equity ETF (OVL) is an ETF from Overlay Shares. Over the past year MEDX returned +15.44% while OVL returned +10.10%. Year to date, MEDX is up 8.66% versus a gain of 7.04% for OVL.
Over three years, MEDX compounded at +10.34% per year against +20.91% for OVL. Across the full 4-year window we track, OVL has the edge at +19.25% annualized vs +6.98%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MEDX and OVL have been equally volatile, both at 14.2% annualized.
The deepest peak-to-trough decline in our data was -21.6% for MEDX 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 0.43. They move together some of the time, and apart the rest.
Fees and Cost Over Time
MEDX charges 0.85% per year while OVL charges 0.79%. On a $10,000 position that is $85 vs $79 annually, a gap of $6 per year that compounds over a long holding period. On income, MEDX currently yields 1.16% against 9.13% for OVL.
Holdings Overlap
We hold position weights for 31 holdings in MEDX and 2 in OVL, totalling 91.6% 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 31 positions we hold weights for in MEDX and 2 in OVL, against full books of 68 and 16.
You are not choosing between two funds in isolation.
Whichever of MEDX 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, MEDX or OVL?
MEDX has an expense ratio of 0.85% while OVL charges 0.79%. OVL is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, MEDX or OVL?
Over the past year MEDX returned +15.44% vs +10.10% for OVL, so MEDX leads on 1-year performance. Over the longest common window we track (4 years), MEDX annualized +6.98% vs +19.25% for OVL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MEDX or OVL?
MEDX and OVL have been equally volatile, both at 14.2% annualized. Worst drawdown: MEDX -21.6% vs OVL -21.7%.
Should I hold both MEDX and OVL?
MEDX and OVL have a monthly-return correlation of 0.43, 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, MEDX or OVL?
MEDX yields 1.16% while OVL yields 9.13%, so OVL currently pays the higher dividend yield.
Is OVL better than MEDX?
OVL has a lower expense ratio. MEDX led over 1Y, OVL over 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.