{
 "ticker": "OVL",
 "name": "Overlay Shares Large Cap Equity ETF",
 "issuer": "Overlay Shares",
 "desk": "income",
 "url": "https://etfiq.com/funds/ovl",
 "html": "https://etfiq.com/funds/ovl",
 "markdown": "https://etfiq.com/funds/ovl.md",
 "as_of": "2026-09-18",
 "verdict": "Over the year to Sep 18, 2026, OVL paid 8.9% in cash and finished 2.6 points ahead of SPY.",
 "key_facts": [
  {
   "key": "cash_paid_1_year_on_its_starting_price",
   "label": "Cash paid, 1 year, on its starting price",
   "value": "8.9%",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "OVL, cash paid, 1 year, on its starting price: 8.9%, as of Sep 18, 2026."
  },
  {
   "key": "total_return_1_year",
   "label": "Total return, 1 year",
   "value": "+19.2%",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "OVL, total return, 1 year: +19.2%, as of Sep 18, 2026."
  },
  {
   "key": "against_spy",
   "label": "Against SPY",
   "value": "+2.6 pts",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "OVL, against SPY: +2.6 pts, as of Sep 18, 2026."
  },
  {
   "key": "latest_payout_annualized",
   "label": "Latest payout, annualized",
   "value": "10.4%",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "OVL, latest payout, annualized: 10.4%, as of Sep 18, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$276m",
   "source": "SEC filing, whole fund, as filed for May 31, 2026",
   "as_of": "2026-09-18",
   "sentence": "OVL, net assets: $276m (SEC filing, whole fund, as filed for May 31, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "not read by ETFIQ",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "OVL, expense ratio: not read by ETFIQ, as of Sep 18, 2026."
  }
 ],
 "fields": [
  {
   "key": "strategy",
   "label": "Strategy",
   "value": "put-selling overlay",
   "source": null
  },
  {
   "key": "benchmark",
   "label": "Benchmark",
   "value": "S&P 500 (SPY)",
   "source": null
  },
  {
   "key": "pays",
   "label": "Pays",
   "value": "monthly",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$276m",
   "source": "SEC filing, whole fund, as filed for May 31, 2026"
  },
  {
   "key": "latest_payout_annualized",
   "label": "Latest payout, annualized",
   "value": "10.4%",
   "source": "ETFIQ"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "not read by ETFIQ",
   "source": null
  },
  {
   "key": "cash_paid_last_12_months_over_today_s_price",
   "label": "Cash paid, last 12 months, over today\u2019s price",
   "value": "8.2%",
   "source": "ETFIQ"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Oct 1, 2019",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Cash paid": "2.6%",
   "Price": "\u22120.4%",
   "Total return": "+2.3%",
   "SPY": "+2.3%",
   "Ahead or behind": "0.0 pts"
  },
  {
   "window": "6 months",
   "Cash paid": "5.7%",
   "Price": "+12.7%",
   "Total return": "+18.8%",
   "SPY": "+18.0%",
   "Ahead or behind": "+0.7 pts"
  },
  {
   "window": "1 year",
   "Cash paid": "8.9%",
   "Price": "+9.4%",
   "Total return": "+19.2%",
   "SPY": "+16.6%",
   "Ahead or behind": "+2.6 pts"
  },
  {
   "window": "3 years",
   "Cash paid": "21.1%",
   "Price": "+59.9%",
   "Total return": "+86.2%",
   "SPY": "+78.4%",
   "Ahead or behind": "+7.8 pts"
  },
  {
   "window": "Since launch",
   "Cash paid": "47.2%",
   "Price": "+130.0%",
   "Total return": "+203.4%",
   "SPY": "+187.2%",
   "Ahead or behind": "+16.1 pts"
  }
 ],
 "questions": [
  {
   "q": "How much has OVL paid over the last year?",
   "a": "Over the year to Sep 18, 2026, OVL paid 8.9% of its starting price in cash distributions, while the price rose 9.4%."
  },
  {
   "q": "Is OVL ahead of SPY?",
   "a": "Over the year to Sep 18, 2026, with every distribution reinvested, OVL returned +19.2% against +16.6% for S&P 500 (SPY), so a holder was ahead of it by 2.6 points."
  },
  {
   "q": "How often does OVL pay, and how much?",
   "a": "OVL pays monthly. The latest distribution annualizes to 10.4% at its price on Sep 18, 2026, which is not a promise; the next one can differ."
  }
 ],
 "generated": "2026-09-21",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}