OVL vs RSHO
Overlay Shares Large Cap Equity ETF vs Tema American Reshoring ETF
Which is better, OVL or RSHO?
RSHO has been ahead.
RSHO has a lower expense ratio. RSHO 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 | OVL | RSHO |
|---|---|---|
| Expense Ratio | 0.79% | 0.75%Best |
| AUM | $497M | $302M |
| Dividend Yield | 9.13% | 0.23% |
| Holdings | 16 | 25 |
| Volatility (annualized) | 15.2%Best | 22.6% |
| Max Drawdown | -21.7%Best | -27.3% |
| $10,000 over 3.1 years | $18,783 | $24,965Best |
| Fund Family | Overlay Shares | Tema Global Limited |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 30, 2019 | May 11, 2023 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 118 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. OVL has data through Oct 14, 2026 and RSHO through Jun 18, 2026.
Volatility and max drawdown, and the $10,000 over 3.1 years row, are measured over the window both funds cover: May 11, 2023 to Jun 18, 2026 (3.1 years).
Risk: Volatility and Drawdowns
RSHO has been the more volatile fund, with annualized monthly volatility of 22.6% compared with 15.2% 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 -21.7% for OVL and -27.3% for RSHO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
OVL charges 0.79% per year while RSHO charges 0.75%. On a $10,000 position that is $79 vs $75 annually, a gap of $4 per year that compounds over a long holding period. On income, OVL currently yields 9.13% against 0.23% for RSHO.
Holdings Overlap
We hold position weights for 2 holdings in OVL and 24 in RSHO, totalling 100.2% and 99.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 155 days apart, OVL as of Oct 2, 2026 and RSHO as of Apr 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 2 positions we hold weights for in OVL and 24 in RSHO, against full books of 16 and 25.
You are not choosing between two funds in isolation.
Whichever of OVL and RSHO 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, OVL or RSHO?
OVL has an expense ratio of 0.79% while RSHO charges 0.75%. RSHO is the cheaper option, by $4 a year on a $10,000 investment.
Which is riskier, OVL or RSHO?
RSHO has been the more volatile fund at 22.6% annualized versus 15.2% for OVL. Worst drawdown: OVL -21.7% vs RSHO -27.3%.
Should I hold both OVL and RSHO?
OVL and RSHO have a monthly-return correlation of 0.73, 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, OVL or RSHO?
OVL yields 9.13% while RSHO yields 0.23%, so OVL currently pays the higher dividend yield.
Is RSHO better than OVL?
RSHO has a lower expense ratio. RSHO 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.