Data as of Nov 4, 2026.

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Income ETFs

JUDO vs OVL: Dividend Yield & Total Return

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JUDO and OVL both write options for income.

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Net assets: $7.0m on Jul 31, 2026 for Janus Henderson U.S. Equity Enhanced Income ETF, and $427m on Aug 31, 2026 for Overlay Shares Large Cap Equity ETF.

At a glance
3.8%
JUDO cash paid, since launch, Mar 25, 2026
9.9%
OVL cash paid, 1 year
+16.1%
JUDO total return, since launch, Mar 25, 2026
+17.2%
OVL total return, 1 year
JUDO · since launch to Nov 4, 2026 Not measured
JUDO
+16.1%
none

Not measured

JUDO since launch: paid 3.8%, price +12.2%, total +16.1%, not measured against a benchmark. Data to Nov 4, 2026.

JUDO

+16.1%

3.8% as cash

Total return, distributions reinvested

Not measured

JUDO since launch: paid 3.8%, price +12.2%, total +16.1%, not measured against a benchmark. Data to Nov 4, 2026.

JUDO

+16.1%

3.8% of it arrived as cash. Total return, distributions reinvested. JUDO since launch: paid 3.8%, price +12.2%, total +16.1%, not measured against a benchmark. Data to Nov 4, 2026.

Data to Nov 4, 2026.
OVL · 1 year to Nov 4, 2026 2.4 pts ahead of VOO
OVL
+17.2%
VOO
+14.8%

2.4 pts ahead of VOO

OVL over 1 year: paid 9.9%, price +6.6%, total +17.2%, VOO +14.8%, +2.4 pts. Data to Nov 4, 2026.

VOO

+14.8%

OVL

+17.2%

9.9% of it arrived as cash

2.4 pts ahead of VOO

Total return, distributions reinvested

2.4 pts ahead of VOO

OVL over 1 year: paid 9.9%, price +6.6%, total +17.2%, VOO +14.8%, +2.4 pts. Data to Nov 4, 2026.

VOO

+14.8%

OVL

+17.2%

9.9% cash

2.4 pts ahead of VOO

9.9% of it arrived as cash. Both charts share one scale, 0 to +17.2%. OVL over 1 year: paid 9.9%, price +6.6%, total +17.2%, VOO +14.8%, +2.4 pts. Data to Nov 4, 2026.

Both charts share one scale, 0 to +17.2%. Data to Nov 4, 2026.

Pair scorecard

JUDO costs 0.24 points a year less.

Points (pts) are percentage points.

JUDO vs OVL: Dividend Yield & Total Return
MeasureJUDOOVL
Paid and earned
Total return, 1 yearnot published+17.2%
Price changerose 2.7% (6 months)rose 6.6% (1 year)
Return of capital, issuer estimate100% of the Oct 29, 2026 payment
Against its benchmark
Benchmarkits own stocksVanguard S&P 500 ETF, measured through VOO
Against its benchmark, same daysahead by 0.6 ptsahead by 2.4 pts
Cost and size
Expense ratio0.55%0.79%
Net assets, JUDO as of Jul 31, 2026 and OVL as of Aug 31, 2026$7.0m$427m
Holdings
Holdings in common0%

Method

What they share

0%

By the books each fund has filed, JUDO and OVL hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Aug 31, 2026.

0 half 100%

half

0% in common

Positions both hold · largest shared weight first JUDO OVL
Only in one fund ↓
Only in JUDO
NVIDIA Corp. 7.84%
Alphabet, Inc. 6.79%
Microsoft Corp. 6.64%
Amazon.com, Inc. 5.17%
Apple, Inc. 4.38%
Broadcom, Inc. 3.56%
JPMorgan Chase & Co. 2.31%
Eli Lilly & Co. 2.07%
Only in OVL
Vanguard S&P 500 ETF 99.97%
Check overlap with more funds →

Side by side

JUDO Janus Henderson U.S. Equity Enhanced Income ETF · Covered call on its own stocks, paying monthly OVL Overlay Shares Large Cap Equity ETF · Put-selling overlay on VOO, paying monthly
Strategy covered call put-selling overlay
Benchmark JUDO's own stocks, without the options (from its filed holdings, rebalanced at each filing; latest Jul 31, 2026) Vanguard S&P 500 ETF (VOO)
Pays monthly monthly
Payout rate, annualized 6.4% 10.6%
Expense ratio 0.55% 0.79%
Cash paid, 1 year 3.8% (since launch, Mar 25, 2026) 9.9%
Price change, 1 year +12.2% (since launch, Mar 25, 2026) +6.6%
Total return, 1 year +16.1% (since launch, Mar 25, 2026) +17.2%
Benchmark return, 1 year not published +14.8%
Ahead or behind not available +2.4 pts
Return of capital, latest estimate not published 100%
Age 224 days 7.1 years
Net assets, JUDO as of Jul 31, 2026 and OVL as of Aug 31, 2026 $7.0m $427m

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

Window by window: JUDO vs OVL: Dividend Yield & Total Return
Total returnCash paidAgainst the benchmark
WindowJUDOOVLJUDOOVLJUDOOVL
3 months−1.2%−0.5%1.6%2.6%+0.5 pts−0.4 pts
6 months+5.8%+4.4%3.1%5.2%+0.6 pts−0.6 pts
1 year–+17.2%–9.9%–+2.4 pts
3 years–+92.6%–23.9%–+9.3 pts
Since launchNot the same days: JUDO Mar 2026 · OVL Oct 2019+16.1%+204.4%3.8%51.2%not measured+14.4 pts

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About each fund
JUDO

JUDO's own stocks, without the options (from its filed holdings, rebalanced at each filing; latest Jul 31, 2026) returned +5.2% over the same days, so a holder was ahead by 0.6 pts.

Over the 6 months to Nov 4, 2026, JUDO paid 3.1% of its starting value in cash distributions while its price rose 2.7%. With every distribution reinvested, the fund returned +5.8%. At its price on Nov 4, 2026 the latest distribution annualizes to 6.4%, paid monthly.

OVL

Over the year to Nov 4, 2026, OVL paid 9.9% of its starting value in cash distributions while its price rose 6.6%. With every distribution reinvested, the fund returned +17.2%. Vanguard S&P 500 ETF (VOO) returned +14.8% over the same days, so a holder was ahead by 2.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 10.6%, 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

Which is cheaper, JUDO or OVL?
JUDO charges 0.55% a year and OVL charges 0.79%, so JUDO is cheaper. Fees come from each fund's prospectus.
Other comparisons
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ETFIQ, JUDO against OVL, data as of Nov 4, 2026. https://etfiq.com/compare/income/judo-vs-ovl

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