Data as of Nov 4, 2026.
KNG vs OVL: Dividend Yield & Total Return
Over the year to Nov 4, 2026, OVL paid 9.9% of its price in cash against KNG’s 8.8%, though KNG returned more with it reinvested.
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Net assets: $3.4bn on Nov 3, 2026 for FT Vest S&P 500 Dividend Aristocrats Target Income ETF, and $427m on Aug 31, 2026 for Overlay Shares Large Cap Equity ETF.
3.1 pts behind NOBL
KNG over 1 year: paid 8.8%, price +11.1%, total +20.8%, NOBL +23.9%, −3.1 pts. Data to Nov 4, 2026.
NOBL
+23.9%
KNG
+20.8%
8.8% of it arrived as cash
3.1 pts behind NOBL
Total return, distributions reinvested
3.1 pts behind NOBL
KNG over 1 year: paid 8.8%, price +11.1%, total +20.8%, NOBL +23.9%, −3.1 pts. Data to Nov 4, 2026.
NOBL
+23.9%
KNG
+20.8%
3.1 pts behind NOBL
8.8% of it arrived as cash. Total return, distributions reinvested. KNG over 1 year: paid 8.8%, price +11.1%, total +20.8%, NOBL +23.9%, −3.1 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.2.4 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%
2.4 pts ahead of VOO
9.9% of it arrived as cash. Both charts share one scale, 0 to +23.9%. 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 +23.9%. Data to Nov 4, 2026.Pair scorecard
KNG costs 0.05 points a year less; their one-year returns differ by 3.6 points.
Points (pts) are percentage points.
| Measure | KNG | OVL |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +20.8% | +17.2% |
| Price change, 1 year | rose 11.1% | rose 6.6% |
| Return of capital, issuer estimate | 80% of the Oct 30, 2026 payment | 100% of the Oct 29, 2026 payment |
| Against its benchmark | ||
| Benchmark | S&P 500 Dividend Aristocrats, measured through NOBL | Vanguard S&P 500 ETF, measured through VOO |
| Cost and size | ||
| Expense ratio | 0.74% | 0.79% |
| Net assets, KNG as of Nov 3, 2026 and OVL as of Aug 31, 2026 | $3.4bn | $427m |
| 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
Oct 11, 2019 to Oct 30, 2026 · 368 weekly returnsEach against its own benchmark: KNG against NOBL, Apr 6, 2018 to Oct 30, 2026; OVL against VOO, Oct 11, 2019 to Oct 30, 2026.
From Oct 2019 to Oct 2026, OVL returned more: +196.3% to +81.5%. KNG swung less: 17.3% to 21.1%. KNG fell less at its worst: −30.1% to −35.2%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | KNG | OVL | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +81.5% | +196.3% | OVL | Price change plus distributions, reinvested. |
| Annualized | +8.8% | +16.6% | OVL | Total return as a yearly rate. |
| Price return | +17.7% | +120.8% | OVL | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 17.3% | 21.1% | KNG | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.2% | 14.5% | KNG | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −30.1% | −35.2% | KNG | Deepest fall from a high to the low after it. |
| Upside capture | 91.7% | 121.3% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 96.9% | 108.9% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.96 | 1.13 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.98 | 0.99 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.41 | 0.70 | OVL | Return above Treasury bills per unit of volatility. |
| Sortino | 0.57 | 1.01 | OVL | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.078 | 0.130 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.29 | 0.47 | OVL | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | NOBL | VOO | The ETF each fund is measured against. | |
| Alpha | −0.6% a year | −0.6% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.81 | −0.66 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −2.1% to +0.9% | −2.4% to +1.2% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.42 | 0.34 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 2.4% | 3.4% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 368 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, KNG and OVL hold 0% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 3, 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 | KNG | OVL | KNG | OVL | KNG | OVL |
| 3 months | +5.2% | −0.5% | 2.0% | 2.6% | −0.5 pts | −0.4 pts |
| 6 months | +13.5% | +4.4% | 4.3% | 5.2% | −1.4 pts | −0.6 pts |
| 1 year | +20.8% | +17.2% | 8.8% | 9.9% | −3.1 pts | +2.4 pts |
| 3 years | +41.8% | +92.6% | 26.9% | 23.9% | −6.7 pts | +9.3 pts |
| Since launchNot the same days: KNG Mar 2018 · OVL Oct 2019 | +120.8% | +204.4% | 61.2% | 51.2% | −19.0 pts | +14.4 pts |
Client brief:
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KNG
Over the year to Nov 4, 2026, KNG paid 8.8% of its starting value in cash distributions while its price rose 11.1%. With every distribution reinvested, the fund returned +20.8%. S&P 500 Dividend Aristocrats (NOBL) returned +23.9% over the same days, so a holder was behind by 3.1 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 8.0%, paid monthly. First Trust estimates that 80% 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.
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).
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.
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ETFIQ, KNG against OVL, data as of Nov 4, 2026. https://etfiq.com/compare/income/kng-vs-ovl
ETFIQ. (Nov 4, 2026). KNG against OVL. Retrieved from https://etfiq.com/compare/income/kng-vs-ovl
[KNG against OVL (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/kng-vs-ovl)
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