NITE vs OVL
The Nightview Fund ETF vs Overlay Shares Large Cap Equity ETF
Which is better, NITE or OVL?
NITE has been ahead.
OVL has a lower expense ratio. NITE led over 1Y 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 | NITE | OVL |
|---|---|---|
| Expense Ratio | 1.25% | 0.79%Best |
| AUM | $35M | $497M |
| Dividend Yield | 0.00% | 9.13% |
| Holdings | 38 | 16 |
| YTD Return | +4.15% | +6.54%Best |
| 1Y Return | +10.11%Best | +10.05% |
| 3Y Return (annualized) | - | +20.74% |
| 5Y Return (annualized) | - | +11.49% |
| Volatility (annualized) | 20.6% | 13.0%Best |
| Max Drawdown | -29.6% | -21.7%Best |
| $10,000 over 2.3 years | $15,420Best | $13,583 |
| Fund Family | Nightview Capital | Overlay Shares |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 21, 2024 | Sep 30, 2019 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.3 years row, are measured over the window both funds cover: Jun 24, 2024 to Oct 14, 2026 (2.3 years).
NITE 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 2.3 years both funds cover.
NITE vs OVL Performance
The Nightview Fund ETF (NITE) is an ETF from Nightview Capital and Overlay Shares Large Cap Equity ETF (OVL) is an ETF from Overlay Shares. Over the past year NITE returned +10.11% while OVL returned +10.05%. Year to date, NITE is up 4.15% versus a gain of 6.54% for OVL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NITE has been the more volatile fund, with annualized monthly volatility of 20.6% compared with 13.0% 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 -29.6% for NITE 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NITE charges 1.25% per year while OVL charges 0.79%. On a $10,000 position that is $125 vs $79 annually, a gap of $46 per year that compounds over a long holding period. On income, NITE currently yields 0.00% against 9.13% for OVL.
Holdings Overlap
We hold position weights for 19 holdings in NITE and 2 in OVL, totalling 99.8% 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 19 positions we hold weights for in NITE and 2 in OVL, against full books of 38 and 16.
You are not choosing between two funds in isolation.
Whichever of NITE 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, NITE or OVL?
NITE has an expense ratio of 1.25% while OVL charges 0.79%. OVL is the cheaper option, by $46 a year on a $10,000 investment.
Which performed better, NITE or OVL?
Over the past year NITE returned +10.11% vs +10.05% for OVL, so NITE leads on 1-year performance. Over the longest common window we track (2 years), NITE annualized +20.72% vs +14.24% for OVL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NITE or OVL?
NITE has been the more volatile fund at 20.6% annualized versus 13.0% for OVL. Worst drawdown: NITE -29.6% vs OVL -21.7%.
Should I hold both NITE and OVL?
NITE and OVL have a monthly-return correlation of 0.78, 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, NITE or OVL?
NITE yields 0.00% while OVL yields 9.13%, so OVL currently pays the higher dividend yield.
Is OVL better than NITE?
OVL has a lower expense ratio. NITE led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.