Data as of Oct 28, 2026.
OVT vs VCSH: Differences, Returns & Fees
Over the year to Oct 28, 2026, OVT returned +3.0% to VCSH's +1.3%, and VCSH charges 0.03% to OVT's 0.79%.
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Net assets: $61m on Aug 31, 2026 for Overlay Shares Short Term Bond ETF, and $43.9bn on Sep 30, 2026 for Vanguard Short-Term Corporate Bond ETF.
Pair scorecard
VCSH costs 0.76 points a year less; their one-year returns differ by 1.7 points.
| Measure | OVT | VCSH |
|---|---|---|
| Return | ||
| Total return, 1 year | +3.0% | +1.3% |
| Price change, 1 year | fell 4.5% | fell 3.1% |
| Latest payout, annualized | 6.5% | |
| Return of capital, issuer estimate | 82% of the Oct 29, 2026 payment | |
| Benchmark | ||
| What it tracks | Benchmark: Vanguard Short-Term Corporate Bond ETF, measured through VCSH | Bloomberg U.S. 1-5 Year Corporate Bond Index |
| Cost and size | ||
| Expense ratio | 0.79% | 0.03% |
| Net assets, OVT as of Aug 31, 2026 and VCSH as of Sep 30, 2026 | $61m | $43.9bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Aug 31, 2026 and Sep 30, 2026. Method
Risk and return
Jan 22, 2021 to Oct 23, 2026 · 300 weekly returnsEach against its own benchmark: OVT against VCSH, Jan 22, 2021 to Oct 23, 2026; VCSH against SCHJ, Oct 18, 2019 to Oct 23, 2026.
OVT returned more: +16.8% to +12.5%. VCSH swung less: 2.7% to 4.3%. VCSH fell less at its worst: −9.1% to −13.6%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | OVT | VCSH | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +16.8% | +12.5% | OVT | Price change plus distributions, reinvested. |
| Annualized | +2.7% | +2.1% | OVT | Total return as a yearly rate. |
| Price return | −14.8% | −6.6% | VCSH | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 4.3% | 2.7% | VCSH | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 3.1% | 2.0% | VCSH | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −13.6% | −9.1% | VCSH | Deepest fall from a high to the low after it. |
| Upside capture | 136.8% | 98.3% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 131.4% | 98.3% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.27 | 0.95 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.63 | 0.99 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | −0.15 | −0.50 | OVT | Return above Treasury bills per unit of volatility. |
| Sortino | −0.20 | −0.68 | OVT | Return above Treasury bills per unit of downside deviation. |
| Treynor | −0.005 | −0.003 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.20 | 0.23 | VCSH | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | VCSH | SCHJ | The ETF each fund is measured against. | |
| Alpha | +1.1% a year | 0.0% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.99 | −0.29 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −1.1% to +3.2% | −0.4% to +0.3% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.26 | −0.06 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 2.7% | 0.5% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 300 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, OVT and VCSH hold 0% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Sep 30, 2026.
half
0% in common
Only in one fund ↓
Side by side
OVT and VCSH 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.
OVT and VCSH do different jobs. What does each one do in a portfolio?
- What each follows. OVT is measured against Vanguard Short-Term Corporate Bond ETF through VCSH and VCSH follows Bloomberg U.S. 1-5 Year Corporate Bond Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Aug 31, 2026 and Sep 30, 2026).
- Cost. OVT charges 0.79% of assets a year and VCSH 0.03%, a gap of 0.76 points.
Data as of Oct 28, 2026.
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OVT
Over the year to Oct 28, 2026, OVT paid 7.4% of its starting value in cash distributions while its price fell 4.5%. With every distribution reinvested, the fund returned +3.0%. Vanguard Short-Term Corporate Bond ETF (VCSH) returned +1.3% over the same days, so a holder was ahead by 1.7 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 6.5%, paid monthly. Overlay Shares estimates that 82% 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.
VCSH
VCSH tracks an index of Short-Term Corporate Bond. Over the year to Oct 28, 2026 it returned +1.3% with distributions reinvested, against +1.3% for its benchmark, the Bloomberg U.S. 1-5 Year Corporate Bond Index. The prospectus expense ratio is 0.03% a year.
Questions people ask
- Are OVT and VCSH in the same category?
- OVT is an option-income ETF and VCSH is a bond ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, OVT or VCSH?
- In the year to Oct 28, 2026, with distributions reinvested, OVT returned +3.0% and VCSH +1.3%.
- Which is cheaper, OVT or VCSH?
- VCSH is cheaper, by 0.76 percentage points a year. That is about $76 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, OVT against VCSH, data as of Oct 28, 2026. https://etfiq.com/compare/any/ovt-vs-vcsh
ETFIQ. (Oct 28, 2026). OVT against VCSH. Retrieved from https://etfiq.com/compare/any/ovt-vs-vcsh
[OVT against VCSH (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/ovt-vs-vcsh)
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