OVL vs ZJAN
Overlay Shares Large Cap Equity ETF vs Innovator Equity Defined Protection ETF - 1 Yr January
Which is better, OVL or ZJAN?
OVL has been ahead.
OVL led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93.
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 | ZJAN |
|---|---|---|
| Expense Ratio | 0.79%Tie | 0.79%Tie |
| AUM | $497M | $109M |
| Dividend Yield | 9.13% | 0.00% |
| Holdings | 16 | 15 |
| YTD Return | +6.54%Best | +3.98% |
| 1Y Return | +10.05%Best | +5.91% |
| 3Y Return (annualized) | +20.74% | - |
| 5Y Return (annualized) | +11.49% | - |
| Volatility (annualized) | 13.8% | 2.4%Best |
| Max Drawdown | -21.7% | -3.2%Best |
| $10,000 over 1.8 years | $12,596Best | $11,130 |
| Fund Family | Overlay Shares | Innovator ETFs Trust |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 30, 2019 | Jan 2, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Jan 2, 2025 to Oct 14, 2026 (1.8 years).
OVL vs ZJAN 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 1.8 years both funds cover.
OVL vs ZJAN Performance
Overlay Shares Large Cap Equity ETF (OVL) is an ETF from Overlay Shares and Innovator Equity Defined Protection ETF - 1 Yr January (ZJAN) is an ETF from Innovator ETFs Trust. Over the past year OVL returned +10.05% while ZJAN returned +5.91%. Year to date, OVL is up 6.54% versus a gain of 3.98% for ZJAN.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
OVL has been the more volatile fund, with annualized monthly volatility of 13.8% compared with 2.4% for ZJAN. 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 -3.2% for ZJAN. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
OVL charges 0.79% per year while ZJAN charges 0.79%. On a $10,000 position that is $79 vs $79 annually. On income, OVL currently yields 9.13% against 0.00% for ZJAN.
You are not choosing between two funds in isolation.
Whichever of OVL and ZJAN 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 ZJAN?
OVL has an expense ratio of 0.79% while ZJAN charges 0.79%. At the precision these are quoted to, they cost the same.
Which performed better, OVL or ZJAN?
Over the past year OVL returned +10.05% vs +5.91% for ZJAN, so OVL leads on 1-year performance. Over the longest common window we track (2 years), OVL annualized +13.68% vs +6.13% for ZJAN. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, OVL or ZJAN?
OVL has been the more volatile fund at 13.8% annualized versus 2.4% for ZJAN. Worst drawdown: OVL -21.7% vs ZJAN -3.2%.
Should I hold both OVL and ZJAN?
OVL and ZJAN have a monthly-return correlation of 0.93, 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 ZJAN?
OVL yields 9.13% while ZJAN yields 0.00%, so OVL currently pays the higher dividend yield.
Is ZJAN better than OVL?
OVL led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93. Which one suits a particular account depends on what it is for. This is information, not a recommendation.