Data as of .
IWMY vs OVS: which paid, and which earned it?
Over the year IWMY paid 29.9% of its price in cash against OVS’s 9.8%, though OVS returned more with it reinvested.
ETFIQ Return Stability Score: OVS scores higher
Was the payout funded by returns, or by your own capital?
A percentile among the 173 income ETFs writing on an index or proxy. It is a position in a set, not a rating, and neither end of it is a recommendation. All income ETFs ranked by it · How it is computed
What they hold in common
By the books each fund has filed, IWMY and OVS hold 0% of their money in the same securities at the same weight.
| Only in IWMY | Only in OVS |
|---|---|
| Rut 12/18/2026 200.34 C 92.47% | iShares Core S&P Small-Cap ETF 100.00% |
| Cash & Other 4.95% | |
| First American Government Obligations Fund 12/01/2031 2.71% | |
| Rut 09/21/2026 2868.98 C 0.22% | |
| Rut 09/21/2026 2860.4 C -0.35% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated May 31, 2026 and Sep 21, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| IWMY | OVS | IWMY | OVS | IWMY | OVS | |
| 3 months | −3.9% | −2.7% | 7.2% | 2.6% | −0.3 pts | +0.9 pts |
| 6 months | +14.5% | +16.8% | 16.1% | 5.9% | −3.4 pts | −1.1 pts |
| 1 year | +6.3% | +18.9% | 29.9% | 9.8% | −10.9 pts | +1.7 pts |
| 3 years | not published | +57.0% | not published | 20.3% | not published | −5.5 pts |
| Since launch | +41.5% | +113.2% | 91.8% | 39.6% | −37.1 pts | +4.5 pts |
| IWMY Defiance R2000 Weekly Distribution ETF Option income on IWM, paying weekly | OVS Overlay Shares Small Cap Equity ETF Put-selling overlay on IWM, paying monthly | |
|---|---|---|
| Issuer | Defiance | Overlay Shares |
| Strategy | option income | put-selling overlay |
| Benchmark | Russell 2000 (IWM) | Russell 2000 (IWM) |
| Pays | weekly | monthly |
| Payout rate, annualized | 30.2% | 11.0% |
| Expense ratio | 1.05% | not published |
| Cash paid, 1 year | 29.9% | 9.8% |
| Price change, 1 year | −24.9% | +8.5% |
| Total return, 1 year | +6.3% | +18.9% |
| Benchmark return, 1 year | +17.2% | +17.2% |
| Ahead or behind | −10.9 pts | +1.7 pts |
| Return of capital, latest estimate | 0% | not published |
| Age | 1053 days | 2544 days |
| Net assets | $90m | $28m |
IWMY in plain words
Over the year to Sep 18, 2026, IWMY paid 29.9% of its starting value in cash distributions while its price fell 24.9%. With every distribution reinvested, the fund returned +6.3%. Russell 2000 (IWM) returned +17.2% over the same days, so a holder was behind by 10.9 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 30.2%, paid weekly. Defiance estimates that 0% of the distribution paid Sep 18, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
OVS in plain words
Over the year to Sep 18, 2026, OVS paid 9.8% of its starting value in cash distributions while its price rose 8.5%. With every distribution reinvested, the fund returned +18.9%. Russell 2000 (IWM) returned +17.2% over the same days, so a holder was ahead by 1.7 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 11.0%, paid monthly.
Questions people ask
- Which paid more, IWMY or OVS?
- Over the year to Sep 18, 2026, IWMY paid 29.9% of its starting price in cash and OVS paid 9.8%, so IWMY paid more. Cash paid is not the same as money made: the price change matters too.
- Which returned more once distributions are counted, IWMY or OVS?
- With every distribution reinvested, IWMY returned +6.3% and OVS returned +18.9% over the year to Sep 18, 2026, so OVS returned more.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, IWMY against OVS, data as of Sep 18, 2026. https://etfiq.com/compare/income/iwmy-vs-ovs Free to use with attribution; the underlying files are at Open data.