Data as of Oct 28, 2026.
IJR vs OVS: Differences, Returns & Fees
Over the year to Oct 28, 2026, IJR returned +17.5% to OVS's +19.5%, and IJR charges 0.06% to OVS's 0.83%.
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Net assets: $104.6bn on Oct 27, 2026 for iShares Core S&P Small-Cap ETF, and $39m on Aug 31, 2026 for Overlay Shares Small Cap Equity ETF.
Pair scorecard
IJR costs 0.77 points a year less; their one-year returns differ by 2.0 points.
| Measure | IJR | OVS |
|---|---|---|
| Return | ||
| Total return, 1 year | +17.5% | +19.5% |
| Price change, 1 year | rose 16.0% | rose 8.1% |
| Latest payout, annualized | 10.5% | |
| Return of capital, issuer estimate | 100% of the Oct 29, 2026 payment | |
| Drawdown | ||
| Below its high | 6.8%, high on Aug 14, 2026 | |
| Benchmark | ||
| What it tracks | S&P SmallCap 600 | Benchmark: iShares Core S&P Small-Cap ETF, measured through IJR |
| Cost and size | ||
| Expense ratio | 0.06% | 0.83% |
| Net assets, IJR as of Oct 27, 2026 and OVS as of Aug 31, 2026 | $104.6bn | $39m |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 0% | |
| Top ten holdings, share of the fund | 5.3% | |
Holdings in common uses holdings dated Aug 31, 2026 and Oct 27, 2026. Method
Risk and return
Oct 11, 2019 to Oct 23, 2026 · 367 weekly returnsEach against its own benchmark: IJR against SPSM, Jul 19, 2013 to Oct 23, 2026; OVS against IJR, Oct 11, 2019 to Oct 23, 2026.
OVS returned slightly more: +109.8% to +100.5%. IJR swung slightly less: 24.8% to 26.2%. IJR fell slightly less at its worst: −41.7% to −42.6%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | IJR | OVS | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +100.5% | +109.8% | OVS (slight) | Price change plus distributions, reinvested. |
| Annualized | +10.4% | +11.1% | OVS (slight) | Total return as a yearly rate. |
| Price return | +79.9% | +56.4% | IJR | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 24.8% | 26.2% | IJR (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 17.1% | 18.4% | IJR (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −41.7% | −42.6% | IJR (slight) | Deepest fall from a high to the low after it. |
| Upside capture | 98.7% | 110.4% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 98.9% | 102.7% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.99 | 1.03 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.99 | 0.95 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.40 | 0.42 | OVS (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.59 | 0.60 | OVS (slight) | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.097 | 0.108 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.25 | 0.26 | OVS (slight) | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | SPSM | IJR | The ETF each fund is measured against. | |
| Alpha | +0.6% a year | +0.7% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.91 | 0.34 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −0.7% to +1.9% | −3.4% to +4.8% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.20 | 0.18 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 2.4% | 5.6% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 367 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, IJR and OVS hold 0% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
IJR and OVS on the fields both publish, as of Oct 28, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price.
IJR and OVS do different jobs. What does each one do in a portfolio?
- What each follows. IJR follows S&P SmallCap 600 and OVS is measured against iShares Core S&P Small-Cap ETF through IJR.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026 and Aug 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 IJR returned +17.5% and OVS +19.5% with distributions reinvested, a gap of 2.0 points.
Data as of Oct 28, 2026.
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IJR
IJR tracks the S&P SmallCap 600. Over the year to Oct 28, 2026 it returned +17.5% with distributions reinvested, against +17.6% for its benchmark, the S&P SmallCap 600. The prospectus expense ratio is 0.06% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 642 positions, with the top ten at 5.3%. It sat 6.8% below its high of Aug 14, 2026 on Oct 28, 2026.
OVS
Over the year to Oct 28, 2026, OVS paid 10.9% of its starting value in cash distributions while its price rose 8.1%. With every distribution reinvested, the fund returned +19.5%. iShares Core S&P Small-Cap ETF (IJR) returned +17.5% over the same days, so a holder was ahead by 2.0 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 10.5%, paid monthly. Overlay Shares estimates that 100% of the distribution paid Oct 29, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
Questions people ask
- Are IJR and OVS in the same category?
- IJR is a stock ETF and OVS is an option-income ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, IJR or OVS?
- In the year to Oct 28, 2026, with distributions reinvested, IJR returned +17.5% and OVS +19.5%.
- Which is cheaper, IJR or OVS?
- IJR is cheaper, by 0.77 percentage points a year. That is about $77 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, IJR against OVS, data as of Oct 28, 2026. https://etfiq.com/compare/any/ijr-vs-ovs
ETFIQ. (Oct 28, 2026). IJR against OVS. Retrieved from https://etfiq.com/compare/any/ijr-vs-ovs
[IJR against OVS (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/ijr-vs-ovs)
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