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ETFs

Overlay Shares Large Cap Equity ETF

OVL
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Sep 30, 2019
Expense Ratio
0.80%
Type
US Equities
Fund Owner
Liquid Strategies
Volume (1m avg. daily)
$736,116
AUM
$151,085,880
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

VOO
Vanguard Group, Inc. - Vanguard S&P 500 ETF
100.25%
n/a
Cash & Other
0.76%
n/a
CBOE S&P PUT OPT 09/23 4390
0.31%
n/a
S&P 500 PUT OPT 10/23 4320
0.23%
n/a
CBOE S&P PUT OPT 09/23 4350
0.22%
n/a
CBOE S&P PUT OPT 09/23 4330
0.14%
n/a
S&P 500 PUT OPT 10/23 4175
0.07%
n/a
S&P 500 PUT OPT 10/23 4275
-0.16%
n/a
CBOE S&P PUT OPT 09/23 4400
-0.36%
n/a
CBOE S&P PUT OPT 09/23 4400
-0.37%
Invest with OVL

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 PBUS, SPUU, VOO

OVL
Listed Funds Trust - Overlay Shares Large Cap Equity ETF
PBUS
Invesco Capital Management LLC - Invesco MSCI USA ETF
SPUU
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bull 2X Shares
VOO
Vanguard Group, Inc. - Vanguard S&P 500 ETF
IYY
BlackRock Institutional Trust Company N.A. - iShares Dow Jones U.S. ETF
GSUS
Goldman Sachs ETF Trust - Goldman Sachs MarketBeta U.S. Equity ETF
SPY
SSgA Active Trust - SPDR S&P 500 ETF Trust
BBUS
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan BetaBuilders U.S. Equity ETF
LCTU
BlackRock ETF Trust - BlackRock U.S. Carbon Transition Readiness ETF
SPLG
SPDR Series Trust - SPDR Portfolio S&P 500 ETF
SPXL
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bull 3X Shares

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.

Automated Strategies
Related toOVL

#DSS

Diversify with Sin Stocks

Category

Grow Your Portfolio, Diversification

Risk Rating

Aggressive

#SPYMIN

SPY minimum drawdown

Category

Community

Risk Rating

Aggressive

Create your own algorithmic trading strategy with OVL using Composer

News Related to OVL

If You Invested $100 In This Stock 5 Years Ago, You Would Have This Much Today

May 28, 2025 • by Benzinga Insights
If You Invested $100 In This Stock 5 Years Ago, You Would Have This Much Today
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Morgan Stanley Downgrades Cboe Global Markets to Underweight, Lowers Price Target to $215

May 14, 2025 • by Benzinga Newsdesk
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Reported Earlier, Cboe Strengthens Asia Pacific Presence With Key Hires Amid Surging Demand For U.S. And European Market Access

May 14, 2025 • by Benzinga Newsdesk
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$100 Invested In Cboe Global Markets 15 Years Ago Would Be Worth This Much Today

May 9, 2025 • by Benzinga Insights
$100 Invested In Cboe Global Markets 15 Years Ago Would Be Worth This Much Today
Read

FAQ

OVL is a US Equities ETF. 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.

Yes, OVL is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, OVL is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on OVL is -0.0134%. This is the percent change in the value of OVL over the most recent 1-month period. The 3-month return on OVL is 0.0031%. This is the percent change in the value of OVL over the most recent 3-month period.

The standard deviation of OVL for the past year is 0.1949%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to OVL include SPHQ, DSI, and QUAL.

ETFs correlated to OVL include PBUS, SPUU, and VOO.

ETFs that are inversely correlated to OVL include SPDN, SDS, and SH.

Disclaimers

*

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.