Data as of Nov 4, 2026.
OVLH vs TPAY: Dividend Yield & Total Return
OVLH and TPAY both write options for income.
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Net assets: $109m on Aug 31, 2026 for Overlay Shares Hedged Large Cap Equity ETF, and $2.1m on Nov 4, 2026 for Roundhill S&P 500 Target 10 Managed Distribution ETF.
7.8 pts behind VOO
OVLH over 1 year: paid 0.3%, price +6.7%, total +7.0%, VOO +14.8%, −7.8 pts. Data to Nov 4, 2026.
VOO
+14.8%
OVLH
+7.0%
7.8 pts behind VOO
Total return, distributions reinvested
7.8 pts behind VOO
OVLH over 1 year: paid 0.3%, price +6.7%, total +7.0%, VOO +14.8%, −7.8 pts. Data to Nov 4, 2026.
VOO
+14.8%
OVLH
+7.0%
7.8 pts behind VOO
0.3% of it arrived as cash. Total return, distributions reinvested. OVLH over 1 year: paid 0.3%, price +6.7%, total +7.0%, VOO +14.8%, −7.8 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.1 pt behind VOO
TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.
VOO
+12.6%
TPAY
+11.6%
6.6% of it arrived as cash
1 pt behind VOO
Total return, distributions reinvested
1 pt behind VOO
TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.
VOO
+12.6%
TPAY
+11.6%
1 pt behind VOO
6.6% of it arrived as cash. Both charts share one scale, 0 to +14.8%. TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.
Both charts share one scale, 0 to +14.8%. Data to Nov 4, 2026.Pair scorecard
TPAY costs 0.31 points a year less.
Points (pts) are percentage points.
| Measure | OVLH | TPAY |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +7.0% | not published |
| Price change | rose 6.7% (1 year) | rose 4.6% (since Feb 18, 2026) |
| Return of capital, issuer estimate | 38% of the Dec 29, 2023 payment | 100% of the Oct 15, 2026 payment |
| Against its benchmark | ||
| Benchmark | Vanguard S&P 500 ETF, measured through VOO | Vanguard S&P 500 ETF, measured through VOO |
| Against its benchmark, same days | behind by 7.8 pts | behind by 1.0 pts |
| Cost and size | ||
| Expense ratio | 0.80% | 0.49% |
| Net assets, OVLH as of Aug 31, 2026 and TPAY as of Nov 4, 2026 | $109m | $2.1m |
| Holdings | ||
| Holdings in common | 0% | |
Risk and return
Feb 27, 2026 to Oct 30, 2026 · 35 weekly returnsFrom Feb 2026 to Oct 2026, TPAY returned more: +10.2% to +6.1%. OVLH fell less at its worst: −4.8% to −7.2%.
Full scorecard
3 measures, with how each is measured Open ↓
| Measure | OVLH | TPAY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +6.1% | +10.2% | TPAY | Price change plus distributions, reinvested. |
| Price return | +6.1% | +3.4% | OVLH | Price change alone, distributions left out. |
| Risk | ||||
| Max drawdown | −4.8% | −7.2% | OVLH | Deepest fall from a high to the low after it. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 35 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, OVLH and TPAY 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 | OVLH | TPAY | OVLH | TPAY | OVLH | TPAY |
| 3 months | −1.4% | −0.8% | 0.0% | 2.3% | −1.3 pts | −0.7 pts |
| 6 months | +1.6% | +4.2% | 0.0% | 4.7% | −3.5 pts | −0.8 pts |
| 1 year | +7.0% | – | 0.3% | – | −7.8 pts | – |
| 3 years | +58.6% | – | 1.7% | – | −24.8 pts | – |
| Since launchNot the same days: OVLH Jan 2021 · TPAY Feb 2026 | +73.9% | +11.6% | 3.2% | 6.6% | −47.2 pts | −1.1 pts |
– means no data for this window. Open this comparison in the app →
No client brief for this pair: ETFIQ prints no one-year total return for TPAY.
OVLH
Over the year to Nov 4, 2026, OVLH paid 0.3% of its starting value in cash distributions while its price rose 6.7%. With every distribution reinvested, the fund returned +7.0%. Vanguard S&P 500 ETF (VOO) returned +14.8% over the same days, so a holder was behind by 7.8 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 0.3%, paid annually. Overlay Shares estimates that 38% of the distribution paid Dec 29, 2023 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
TPAY
Over the period from its first trade on Feb 18, 2026 to Nov 4, 2026, TPAY paid 6.6% of its starting value in cash distributions while its price rose 4.6%. With every distribution reinvested, the fund returned +11.6%. Vanguard S&P 500 ETF (VOO) returned +12.6% over the same days, so a holder was behind by 1.0 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 9.5%, paid monthly. Roundhill estimates that 100% of the distribution paid Oct 15, 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
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, OVLH against TPAY, data as of Nov 4, 2026. https://etfiq.com/compare/income/ovlh-vs-tpay
ETFIQ. (Nov 4, 2026). OVLH against TPAY. Retrieved from https://etfiq.com/compare/income/ovlh-vs-tpay
[OVLH against TPAY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/ovlh-vs-tpay)
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