Data as of Nov 4, 2026.
OVL vs WDTE: Dividend Yield & Total Return
Over the year to Nov 4, 2026, WDTE paid 27.9% of its price in cash against OVL’s 9.9%, though OVL returned more with it reinvested.
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Net assets: $427m on Aug 31, 2026 for Overlay Shares Large Cap Equity ETF, and $69m on Nov 3, 2026 for Defiance S&P 500 Weekly Distribution ETF.
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. Total return, distributions reinvested. OVL over 1 year: paid 9.9%, price +6.6%, total +17.2%, VOO +14.8%, +2.4 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.0.7 pts behind SPY
WDTE over 1 year: paid 27.9%, price −15.9%, total +14.1%, SPY +14.8%, −0.7 pts. Data to Nov 4, 2026.
SPY
+14.8%
WDTE
+14.1%
27.9% of it arrived as cash
0.7 pts behind SPY
Total return, distributions reinvested
0.7 pts behind SPY
WDTE over 1 year: paid 27.9%, price −15.9%, total +14.1%, SPY +14.8%, −0.7 pts. Data to Nov 4, 2026.
SPY
+14.8%
WDTE
+14.1%
27.9% as cash
0.7 pts behind SPY
27.9% of it arrived as cash. Both charts share one scale, with zero at the line. WDTE over 1 year: paid 27.9%, price −15.9%, total +14.1%, SPY +14.8%, −0.7 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
OVL costs 0.24 points a year less; their one-year returns differ by 3.1 points.
Points (pts) are percentage points.
| Measure | OVL | WDTE |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +17.2% | +14.1% |
| Price change, 1 year | rose 6.6% | fell 15.9% |
| Return of capital, issuer estimate | 100% of the Oct 29, 2026 payment | 100% of the Oct 30, 2026 payment |
| Against its benchmark | ||
| Benchmark | Vanguard S&P 500 ETF, measured through VOO | S&P 500, measured through SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 1.03% |
| Net assets, OVL as of Aug 31, 2026 and WDTE as of Nov 3, 2026 | $427m | $69m |
| 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 →
What they share
By the books each fund has filed, OVL and WDTE 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 | OVL | WDTE | OVL | WDTE | OVL | WDTE |
| 3 months | −0.5% | −0.4% | 2.6% | 7.3% | −0.4 pts | −0.2 pts |
| 6 months | +4.4% | +4.6% | 5.2% | 14.4% | −0.6 pts | −0.4 pts |
| 1 year | +17.2% | +14.1% | 9.9% | 27.9% | +2.4 pts | −0.7 pts |
| 3 years | +92.6% | +50.8% | 23.9% | 78.5% | +9.3 pts | −32.1 pts |
| Since launchNot the same days: OVL Oct 2019 · WDTE Sep 2023 | +204.4% | +49.2% | 51.2% | 79.5% | +14.4 pts | −30.4 pts |
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.
WDTE
Over the year to Nov 4, 2026, WDTE paid 27.9% of its starting value in cash distributions while its price fell 15.9%. With every distribution reinvested, the fund returned +14.1%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 0.7 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 30.3%, paid weekly. Defiance estimates that 100% of the distribution paid Oct 30, 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, OVL against WDTE, data as of Nov 4, 2026. https://etfiq.com/compare/income/ovl-vs-wdte
ETFIQ. (Nov 4, 2026). OVL against WDTE. Retrieved from https://etfiq.com/compare/income/ovl-vs-wdte
[OVL against WDTE (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/ovl-vs-wdte)
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