Data as of .
OVLH vs TPAY: which paid, and which earned it?
OVLH and TPAY both write options for income.
What they hold in common
By the books each fund has filed, OVLH and TPAY hold 0% of their money in the same securities at the same weight.
| Only in OVLH | Only in TPAY |
|---|---|
| Vanguard S&P 500 ETF 100.00% | SPY 03/12/2027 33.67 C 61.75% |
| SPY 04/16/2027 33.18 C 33.20% | |
| SPYM 03/12/2027 3.33 C 5.05% |
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 18, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| OVLH | TPAY | OVLH | TPAY | OVLH | TPAY | |
| 3 months | +0.5% | +1.5% | 0.0% | 2.4% | −1.7 pts | −0.8 pts |
| 6 months | +11.0% | +17.3% | 0.0% | 5.3% | −7.0 pts | −0.7 pts |
| 1 year | +9.1% | not published | 0.3% | not published | −7.5 pts | not published |
| 3 years | +54.7% | not published | 1.7% | not published | −23.7 pts | not published |
| Since launch | +73.7% | +11.0% | 3.1% | 5.8% | −45.2 pts | −0.8 pts |
| OVLH Overlay Shares Hedged Large Cap Equity ETF Put-selling overlay, hedged on SPY, paying annual | TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF Option income on SPY, paying monthly | |
|---|---|---|
| Issuer | Overlay Shares | Roundhill |
| Strategy | put-selling overlay, hedged | option income |
| Benchmark | S&P 500 (SPY) | S&P 500 (SPY) |
| Pays | annual | monthly |
| Payout rate, annualized | 0.3% | 9.5% |
| Expense ratio | not published | 0.49% |
| Cash paid, 1 year | 0.3% | 5.8% (since launch on Feb 18, 2026) |
| Price change, 1 year | +8.8% | +4.9% |
| Total return, 1 year | +9.1% | +11.0% (since launch on Feb 18, 2026) |
| Benchmark return, 1 year | +16.6% | +11.8% |
| Ahead or behind | −7.5 pts | −0.8 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 2072 days | 212 days |
| Net assets | $116m | $2m |
OVLH in plain words
Over the year to Sep 18, 2026, OVLH paid 0.3% of its starting value in cash distributions while its price rose 8.8%. With every distribution reinvested, the fund returned +9.1%. S&P 500 (SPY) returned +16.6% over the same days, so a holder was behind by 7.5 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 0.3%, paid annual.
TPAY in plain words
Over the period since launch on Feb 18, 2026 to Sep 18, 2026, TPAY paid 5.8% of its starting value in cash distributions while its price rose 4.9%. With every distribution reinvested, the fund returned +11.0%. S&P 500 (SPY) returned +11.8% over the same days, so a holder was behind by 0.8 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 9.5%, paid monthly.
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, OVLH against TPAY, data as of Sep 18, 2026. https://etfiq.com/compare/income/ovlh-vs-tpay Free to use with attribution; the underlying files are at Open data.