Data as of Nov 4, 2026.
IWMY vs OVS: Dividend Yield & Total Return
Over the year to Nov 4, 2026, IWMY paid 28.6% of its price in cash against OVS’s 11.3%, though OVS returned more with it reinvested.
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Net assets: $79m on Nov 3, 2026 for Defiance R2000 Weekly Distribution ETF, and $39m on Aug 31, 2026 for Overlay Shares Small Cap Equity ETF.
11.1 pts behind IWM
IWMY over 1 year: paid 28.6%, price −21.4%, total +7.9%, IWM +19.0%, −11.1 pts. Data to Nov 4, 2026.
IWM
+19.0%
IWMY
+7.9%
28.6% as cash
11.1 pts behind IWM
Total return, distributions reinvested
11.1 pts behind IWM
IWMY over 1 year: paid 28.6%, price −21.4%, total +7.9%, IWM +19.0%, −11.1 pts. Data to Nov 4, 2026.
IWM
+19.0%
IWMY
+7.9%
11.1 pts behind IWM
28.6% of it arrived as cash. Total return, distributions reinvested. IWMY over 1 year: paid 28.6%, price −21.4%, total +7.9%, IWM +19.0%, −11.1 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.2.2 pts ahead of IJR
OVS over 1 year: paid 11.3%, price +14.4%, total +26.4%, IJR +24.2%, +2.2 pts. Data to Nov 4, 2026.
IJR
+24.2%
OVS
+26.4%
11.3% of it arrived as cash
2.2 pts ahead of IJR
Total return, distributions reinvested
2.2 pts ahead of IJR
OVS over 1 year: paid 11.3%, price +14.4%, total +26.4%, IJR +24.2%, +2.2 pts. Data to Nov 4, 2026.
IJR
+24.2%
OVS
+26.4%
2.2 pts ahead of IJR
11.3% of it arrived as cash. Both charts share one scale, with zero at the line. OVS over 1 year: paid 11.3%, price +14.4%, total +26.4%, IJR +24.2%, +2.2 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
OVS costs 0.22 points a year less; their one-year returns differ by 18.5 points.
Points (pts) are percentage points.
| Measure | IWMY | OVS |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +7.9% | +26.4% |
| Price change, 1 year | fell 21.4% | rose 14.4% |
| Return of capital, issuer estimate | 100% of the Oct 30, 2026 payment | 100% of the Oct 29, 2026 payment |
| Against its benchmark | ||
| Benchmark | Russell 2000, measured through IWM | iShares Core S&P Small-Cap ETF, measured through IJR |
| Cost and size | ||
| Expense ratio | 1.05% | 0.83% |
| Net assets, IWMY as of Nov 3, 2026 and OVS as of Aug 31, 2026 | $79m | $39m |
| Holdings | ||
| Holdings in common | 0% | |
How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed
One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →
Risk and return
Nov 10, 2023 to Oct 30, 2026 · 155 weekly returnsEach against its own benchmark: IWMY against IWM, Nov 10, 2023 to Oct 30, 2026; OVS against IJR, Oct 11, 2019 to Oct 30, 2026.
From Nov 2023 to Oct 2026, OVS returned more: +68.0% to +37.8%. IWMY swung less: 14.2% to 19.6%. IWMY fell less at its worst: −16.3% to −26.7%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | IWMY | OVS | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +37.8% | +68.0% | OVS | Price change plus distributions, reinvested. |
| Annualized | +11.3% | +19.0% | OVS | Total return as a yearly rate. |
| Price return | −72.7% | +41.1% | OVS | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 14.2% | 19.6% | IWMY | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 10.0% | 13.0% | IWMY | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −16.3% | −26.7% | IWMY | Deepest fall from a high to the low after it. |
| Upside capture | 56.1% | 110.3% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 81.5% | 102.7% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.68 | 1.03 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.84 | 0.95 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.52 | 0.76 | OVS | Return above Treasury bills per unit of volatility. |
| Sortino | 0.73 | 1.14 | OVS | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.108 | 0.109 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.69 | 0.71 | OVS (slight) | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | IWM | IJR | The ETF each fund is measured against. | |
| Alpha | −3.1% a year | +0.7% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.94 | 0.32 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −9.7% to +3.5% | −3.5% to +4.8% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.96 | 0.17 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 8.4% | 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, 155 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, IWMY and OVS hold 0% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 4, 2026.
half
0% in common
Only in one fund ↓
Side by side
As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.
Window by window
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | IWMY | OVS | IWMY | OVS | IWMY | OVS |
| 3 months | −6.1% | −4.1% | 7.0% | 2.5% | −1.1 pts | −0.4 pts |
| 6 months | −2.3% | +2.9% | 14.0% | 5.2% | −1.8 pts | −0.6 pts |
| 1 year | +7.9% | +26.4% | 28.6% | 11.3% | −11.0 pts | +2.2 pts |
| 3 years | +36.8% | +67.1% | 90.4% | 22.8% | −31.5 pts | +8.2 pts |
| Since launchNot the same days: IWMY Oct 2023 · OVS Oct 2019 | +40.4% | +118.6% | 92.7% | 42.4% | −38.1 pts | +9.8 pts |
Client brief:
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IWMY
Over the year to Nov 4, 2026, IWMY paid 28.6% of its starting value in cash distributions while its price fell 21.4%. With every distribution reinvested, the fund returned +7.9%. Russell 2000 (IWM) returned +19.0% over the same days, so a holder was behind by 11.1 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 29.9%, paid weekly. Defiance estimates that 100% of the distribution paid Oct 30, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
OVS
Over the year to Nov 4, 2026, OVS paid 11.3% of its starting value in cash distributions while its price rose 14.4%. With every distribution reinvested, the fund returned +26.4%. iShares Core S&P Small-Cap ETF (IJR) returned +24.2% over the same days, so a holder was ahead by 2.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 10.3%, paid monthly. Overlay Shares estimates that 100% of the distribution paid Oct 29, 2026 was a return of capital (its 19a-1 notice).
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
It is a place in a set, not a rating or a recommendation.
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, IWMY against OVS, data as of Nov 4, 2026. https://etfiq.com/compare/income/iwmy-vs-ovs
ETFIQ. (Nov 4, 2026). IWMY against OVS. Retrieved from https://etfiq.com/compare/income/iwmy-vs-ovs
[IWMY against OVS (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/iwmy-vs-ovs)
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