OVL vs SPYU
Overlay Shares Large Cap Equity ETF vs MAX S&P 500 4X Leveraged ETN
Which is better, OVL or SPYU?
SPYU has been ahead.
SPYU led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.97.
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 | SPYU |
|---|---|---|
| Expense Ratio | 0.79% | - |
| AUM | $497M | $567M |
| Dividend Yield | 9.13% | 0.00% |
| Holdings | 16 | - |
| YTD Return | +6.54% | +24.74%Best |
| 1Y Return | +10.05% | +32.09%Best |
| 3Y Return (annualized) | +20.74% | - |
| 5Y Return (annualized) | +11.49% | - |
| Volatility (annualized) | 13.3%Best | 49.1% |
| Max Drawdown | -21.7%Best | -62.3% |
| $10,000 over 2.9 years | $16,902 | $28,049Best |
| Fund Family | Overlay Shares | BMO Capital Markets |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 30, 2019 | Dec 4, 2023 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Dec 5, 2023 to Oct 14, 2026 (2.9 years).
OVL vs SPYU 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 2.9 years both funds cover.
OVL vs SPYU Performance
Overlay Shares Large Cap Equity ETF (OVL) is an ETF from Overlay Shares and MAX S&P 500 4X Leveraged ETN (SPYU) is an ETF from BMO Capital Markets. Over the past year OVL returned +10.05% while SPYU returned +32.09%. Year to date, OVL is up 6.54% versus a gain of 24.74% for SPYU.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPYU has been the more volatile fund, with annualized monthly volatility of 49.1% compared with 13.3% 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 -62.3% for SPYU. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
You are not choosing between two funds in isolation.
Whichever of OVL and SPYU 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 performed better, OVL or SPYU?
Over the past year OVL returned +10.05% vs +32.09% for SPYU, so SPYU leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, OVL or SPYU?
SPYU has been the more volatile fund at 49.1% annualized versus 13.3% for OVL. Worst drawdown: OVL -21.7% vs SPYU -62.3%.
Should I hold both OVL and SPYU?
OVL and SPYU have a monthly-return correlation of 0.97, 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, OVL or SPYU?
OVL yields 9.13% while SPYU yields 0.00%, so OVL currently pays the higher dividend yield.
Is SPYU better than OVL?
SPYU led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.97. Which one suits a particular account depends on what it is for. This is information, not a recommendation.