Overlay Shares Large Cap Equity ETF
Top 10 Holdings
What is OVL?
The Fund is an actively-managed exchange-traded fund ( ETF ) that seeks to achieve its objective by (i) investing in one or more other ETFs that seek to obtain exposure to the performance of U.S. large cap equity securities or directly in the securities held by such ETFs (collectively, the Underlying Investments ) and (ii) selling and purchasing listed short-term put options to generate income to the Fund (the Overlay Strategy ). The Fund s Overlay Strategy seeks to generate income for the Fund by utilizing a put spread consisting of the sale of exchange-listed short-term put options ( Short Puts ) with a notional value (strike price times the value of the shares) up to 100% of the Fund s net assets and the purchase of an identical number of short-term put options ( Long Puts ) with a lower strike price. The Fund seeks to generate income from the sale and purchase of put options with a lower strike price to hedge against a decline in the options underlying asset, the S&P500 Index, which consists of approximately 500 leading U.S.-listed companies representing approximately 80% of the U.S. equity market capitalization.
ETFs related toOVL
ETFs correlated to OVL include MAYT, SPUU, PBUS
What is ETF correlation?
Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.
Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.
Using ETF correlations in portfolio and strategy construction
ETF correlations can help you create investing strategies and portfolios. Use them to:
- •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
- •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
- •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.
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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.
We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.