How much has OVLH paid over the last year?

Over the year to Nov 4, 2026, OVLH paid 0.3% of its starting price in cash distributions, while the price rose 6.7%.

Is OVLH ahead of VOO?

Over the year to Nov 4, 2026, with every distribution reinvested, OVLH returned +7.0% against +14.8% for Vanguard S&P 500 ETF (VOO), so a holder was behind it by 7.8 points.

How often does OVLH pay, and how much?

OVLH pays annually. The latest distribution annualizes to 0.3% at its price on Nov 4, 2026, which is not a promise; the next one can differ.

Is the OVLH distribution return of capital?

Overlay Shares estimates 38% of the distribution paid Dec 29, 2023 was return of capital. That is a tax characterization from the fund's own 19a-1 notice, not a measure of erosion.

When does OVLH next pay a distribution?

OVLH pays annually. The last distribution went ex on Dec 23, 2025 at $0.1186 a share.

The prospectus expense ratio is 0.80% a year.

How much of OVLH’s distribution is return of capital?

Overlay Shares’s Rule 19a-1 notice estimates 38.0% of the distribution paid Dec 29, 2023 was return of capital. The annual report for the fiscal year to Aug 31, 2025 puts it at 0.0% of distributions. Estimates come before the fund year closes and often change.

OVLH Overlay Shares Hedged Large Cap Equity ETF

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$42.13

+1.0% · 1 day, price

IQ’s readingComputed nightly from ETFIQ data. Not written live.

Over the year to Nov 4, 2026, OVLH paid 0.3% in cash and returned 7.0% in total, against 14.8% for VOO.

Why did OVLH return +69.2% from Jan 2021 to Oct 2026, against VOO’s +113.9%?Is OVLH’s payout of 0.3% a year sustainable?What do OVLH’s net flows of −$16.5m over the 3 years to Aug 31, 2026 mean?

Put-selling overlay, hedged on VOO, paying annuallyOverlay Shares ↗Expense ratio 0.80%Fund assets $109m net assets, latest filing (Aug 31, 2026)First traded Jan 15, 2021Benchmark Vanguard S&P 500 ETF (VOO)SEC filings ↗Every Overlay Shares fund ETFIQ covers Dividend history

Promise check: DeliveredOver the year to Nov 4, 2026, OVLH paid 0.3% in cash and returned 7.0% in total, covering 2333.3% of its payout.

Compare with…Trading costs Put to the committee askIQ about OVLH Add to portfolio Flows Alerts

OVLH risk and return scorecard

vs VOO · Jan 2021 to Oct 2026 · 301 weekly returns · dividend-adjusted

5.8 years

OVLH +69.2%, VOO +113.9%, Jan 2021 to Oct 2026, distributions reinvested.

Return

MeasureOVLHVOOEdge

Total return+69.2%+113.9%VOO

Annualized+9.5%+14.0%VOO

Price return+64.8%+97.4%VOO

Risk

MeasureOVLHVOOEdge

Volatility10.8%15.7%OVLH

Max drawdown−19.6%−23.9%OVLH

Upside capture61.5%100.0%VOO

Downside capture79.7%100.0%OVLH

Risk-adjusted

MeasureOVLHVOOEdge

Sharpe ratio0.580.70VOO

Sortino ratio0.871.06VOO

Alpha vs VOO

MeasureOVLHVOOEdge

Alpha, a year−1.0%Not significant

Alpha t-stat−0.85

Beta to VOO0.671.00Lower beta

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

Money in and out

Net fund flows · Aug 31, 2026

12 months to Aug 31, 2026

+$21.3m

3 years to Aug 31, 2026

−$16.5m

5 years to Aug 31, 2026

+$62.2m

askIQ: what do these flows mean? ↗

What you earned

OVLH −1.2%, VOO −1.1%: total return over one month to Nov 4, 2026.

OVLH

−1.2%

VOO

−1.1%

Paid 0.0% in cash. Price −1.2%.

OVLH −1.4%, VOO −0.1%: total return over three months to Nov 4, 2026.

OVLH

−1.4%

VOO

−0.1%

Paid 0.0% in cash. Price −1.4%.

OVLH +1.6%, VOO +5.0%: total return over six months to Nov 4, 2026.

OVLH

+1.6%

VOO

+5.0%

Paid 0.0% in cash. Price +1.6%.

OVLH +7.0%, VOO +13.4%: total return over the year to Nov 4, 2026.

OVLH

+7.0%

VOO

+13.4%

Paid 0.0% in cash. Price +7.0%.

OVLH +7.0%, VOO +14.8%: total return over one year to Nov 4, 2026.

OVLH

+7.0%

VOO

+14.8%

Paid 0.3% in cash. Price +6.7%.

OVLH +58.6%, VOO +83.3%: total return over three years to Nov 4, 2026.

OVLH

+58.6%

VOO

+83.3%

Paid 1.7% in cash. Price +56.3%.

OVLH +45.6%, VOO +75.5%: total return over five years to Nov 4, 2026.

OVLH

+45.6%

VOO

+75.5%

Paid 2.6% in cash. Price +41.8%.

OVLH +73.9%, VOO +121.1%: total return since launch to Nov 4, 2026.

OVLH

+73.9%

VOO

+121.1%

Paid 3.2% in cash. Price +69.3%.

askIQ: why did OVLH return +7.0% over one year, against VOO’s +14.8%? ↗

What it paid

5 distributions · latest Dec 23, 2025

0.3%

Cash paid, 1 year, on its starting price

to Nov 4, 2026

Report

+7.0%

Total return, 1 year

to Nov 4, 2026

Report

−7.8 pts

Against VOO

to Nov 4, 2026

Report

38.0%

Return of capital, latest payout (Overlay Shares estimate)

Report

$0.1186

Last payment (paid annually), ex-date Dec 23, 2025

Report

Pays annual.

askIQ: is OVLH’s payout of 0.3% a year sustainable? ↗

More on OVLH

Every number below is on this page. Open what you need.

Price, 1 year

$42.13+1.0%1 day, priceClose, Nov 4, 2026

−5%0%5%Price +6.7%

Nov 4, 2025Nov 4, 2026

Price +6.7%

Price only. Total return over the same days, distributions reinvested, was +7.0%. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Nov 4, 2026. Updated every trading night. Report a data error

OVLH returns by window: total return, cash paid and price change
Window	Total return	Cash paid	Price	VOO	Ahead or behind
1M Oct 5 – Nov 4, 2026	−1.2%	0.0%	−1.2%	−1.1%	−0.1 pts
3M Aug 5 – Nov 4, 2026	−1.4%	0.0%	−1.4%	−0.1%	−1.3 pts
6M May 6 – Nov 4, 2026	+1.6%	0.0%	+1.6%	+5.0%	−3.4 pts
YTD Dec 31, 2025 – Nov 4, 2026	+7.0%	0.0%	+7.0%	+13.4%	−6.4 pts
1Y Nov 4, 2025 – Nov 4, 2026	+7.0%	0.3%	+6.7%	+14.8%	−7.8 pts
3Y Nov 3, 2023 – Nov 4, 2026	+58.6%	1.7%	+56.3%	+83.3%	−24.7 pts
5Y Nov 5, 2021 – Nov 4, 2026	+45.6%	2.6%	+41.8%	+75.5%	−29.9 pts
Since launch Jan 15, 2021 – Nov 4, 2026	+73.9%	3.2%	+69.3%	+121.1%	−47.2 pts
Since launch, annualised Jan 15, 2021 – Nov 4, 2026	+10.0%	–	–	–	–

Total returns, distributions reinvested.

Source: Tiingo end-of-day prices, with distributions reinvested.

Where the return came from

OVLH

−1.2%

VOO

−1.1%

About even with VOO OVLH over 1 month: paid 0.0%, price −1.2%, total −1.2%, VOO −1.1%, −0.1 pts. Data to Nov 4, 2026. VOO −1.1% OVLH −1.2% about even with VOO Total return, distributions reinvested About even with VOO OVLH over 1 month: paid 0.0%, price −1.2%, total −1.2%, VOO −1.1%, −0.1 pts. Data to Nov 4, 2026. VOO −1.1% OVLH −1.2% about even with VOO Over the 1 month to Nov 4, 2026, OVLH returned −1.2% with distributions reinvested and Vanguard S&P 500 ETF (VOO) returned −1.1%, so a holder came out behind it by 0.1 points. The lighter segment is the 0.0% that arrived as cash rather than as price.

Price change −1.2%Cash paid 0.0%, reinvested−0.1 pts vs VOO

0.0%

OVLH

−1.4%

VOO

−0.1%

1.3 pts behind VOO OVLH over 3 months: paid 0.0%, price −1.4%, total −1.4%, VOO −0.1%, −1.3 pts. Data to Nov 4, 2026. VOO −0.1% OVLH −1.4% 1.3 pts behind VOO Total return, distributions reinvested 1.3 pts behind VOO OVLH over 3 months: paid 0.0%, price −1.4%, total −1.4%, VOO −0.1%, −1.3 pts. Data to Nov 4, 2026. VOO −0.1% OVLH −1.4% 1.3 pts behind VOO Over the 3 months to Nov 4, 2026, OVLH returned −1.4% with distributions reinvested and Vanguard S&P 500 ETF (VOO) returned −0.1%, so a holder came out behind it by 1.3 points. The lighter segment is the 0.0% that arrived as cash rather than as price.

Price change −1.4%Cash paid 0.0%, reinvested−1.3 pts vs VOO

0.0%

OVLH

+1.6%

VOO

+5.0%

3.4 pts behind VOO OVLH over 6 months: paid 0.0%, price +1.6%, total +1.6%, VOO +5.0%, −3.4 pts. Data to Nov 4, 2026. VOO +5.0% OVLH +1.6% 3.4 pts behind VOO Total return, distributions reinvested 3.4 pts behind VOO OVLH over 6 months: paid 0.0%, price +1.6%, total +1.6%, VOO +5.0%, −3.4 pts. Data to Nov 4, 2026. VOO +5.0% OVLH +1.6% 3.4 pts behind VOO Over the 6 months to Nov 4, 2026, OVLH returned +1.6% with distributions reinvested and Vanguard S&P 500 ETF (VOO) returned +5.0%, so a holder came out behind it by 3.4 points. The lighter segment is the 0.0% that arrived as cash rather than as price.

Price change +1.6%Cash paid 0.0%, reinvested−3.4 pts vs VOO

OVLH

+7.0%

VOO

+14.8%

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 Over the 1 year to Nov 4, 2026, OVLH returned +7.0% with distributions reinvested and Vanguard S&P 500 ETF (VOO) returned +14.8%, so a holder came out behind it by 7.8 points. The lighter segment is the 0.3% that arrived as cash rather than as price.

Price change +6.7%Cash paid +0.3%, reinvested−7.8 pts vs VOO

OVLH

+58.6%

VOO

+83.3%

24.7 pts behind VOO OVLH over 3 years: paid 1.7%, price +56.3%, total +58.6%, VOO +83.3%, −24.7 pts. Data to Nov 4, 2026. VOO +83.3% OVLH +58.6% 24.7 pts behind VOO Total return, distributions reinvested 24.7 pts behind VOO OVLH over 3 years: paid 1.7%, price +56.3%, total +58.6%, VOO +83.3%, −24.7 pts. Data to Nov 4, 2026. VOO +83.3% OVLH +58.6% 24.7 pts behind VOO Over the 3 years to Nov 4, 2026, OVLH returned +58.6% with distributions reinvested and Vanguard S&P 500 ETF (VOO) returned +83.3%, so a holder came out behind it by 24.7 points. The lighter segment is the 1.7% that arrived as cash rather than as price.

Price change +56.3%Cash paid +1.7%, reinvested−24.7 pts vs VOO

OVLH

+73.9%

VOO

+121.1%

47.2 pts behind VOO OVLH since launch: paid 3.2%, price +69.3%, total +73.9%, VOO +121.1%, −47.2 pts. Data to Nov 4, 2026. VOO +121.1% OVLH +73.9% 47.2 pts behind VOO Total return, distributions reinvested 47.2 pts behind VOO OVLH since launch: paid 3.2%, price +69.3%, total +73.9%, VOO +121.1%, −47.2 pts. Data to Nov 4, 2026. VOO +121.1% OVLH +73.9% 47.2 pts behind VOO From launch to Nov 4, 2026, OVLH returned +73.9% with distributions reinvested and Vanguard S&P 500 ETF (VOO) returned +121.1%, so a holder came out behind it by 47.2 points. The lighter segment is the 3.2% that arrived as cash rather than as price.

Price change +69.3%Cash paid +3.2%, reinvested−47.2 pts vs VOO

99.7

IQ Income ScoreETFIQ Distribution Coverage Score1st of 167 · Nov 4, 2026

0.3 · lowest of 167 income ETFs not writing on a single company99.7 · highest

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

OVLH paid 0.3% in cash over the year and returned 7.0% in total, more than it paid out.

total return as a share of the cash paid2,333.3% · 100th pct

All 167 ranked by this score →

Money in and out

Monthly data · as of Aug 31, 2026

OVLH: in the month to Aug 31, 2026, net $5.5m went out, by its SEC filing.

12 months

+$21.3m

27.9% of $76.5m on Aug 31, 2025
Sep 1, 2025 to Aug 31, 2026
monthly, from SEC filings

3 years

−$16.5m

−17.1% of $96.5m on Aug 31, 2023
Sep 1, 2023 to Aug 31, 2026
monthly, from SEC filings

5 years

+$62.2m

505.3% of $12.3m on Aug 31, 2021
Sep 1, 2021 to Aug 31, 2026
monthly, from SEC filings

Since Jan 2021

+$73.4m

Jan 1, 2021 to Aug 31, 2026
monthly, from SEC filings

Computed by ETFIQ from the monthly sales and redemptions OVLH files with the SEC on Form N-PORT.

How this is computed

ETFIQ reads no daily data for this fund, so its flows are monthly, and the latest month filed is Aug 2026. Every day and month ETFIQ holds for OVLH, back to Jan 2021, is in its flows file. Flows across every fund · How these flows are computed · Compare OVLH with other funds in the flows tool

Month by month, money in and money outSep 2023 to Aug 2026

in, up to +$34m

out, down to −$73mSep 2023Aug 2026

OVLH, money in and money out each month from Sep 2023 to Aug 2026: two bars a month, money in above the line and money out below. Every bar is from OVLH’s SEC filings (N-PORT item B.6). Of the 36 months listed, money came in on net in 16 and went out in 19.

Every bar is from OVLH’s SEC filings (N-PORT item B.6). Of the 36 months listed, money came in on net in 16 and went out in 19.

MonthInOutNet

Aug 2026 SEC Form N-PORT+$2.1m−$7.6m−$5.5m

Jul 2026 SEC Form N-PORT+$2.1m−$5.0m−$2.9m

Jun 2026 SEC Form N-PORT+$2.9m−$1.7m+$1.2m

May 2026 SEC Form N-PORT+$9.9m$0+$9.9m

Apr 2026 SEC Form N-PORT+$1.1m−$4.7m−$3.6m

Mar 2026 SEC Form N-PORT+$1.5m−$2.7m−$1.2m

Feb 2026 SEC Form N-PORT+$2.8m−$3.2m−$412k

Jan 2026 SEC Form N-PORT+$3.6m−$3.2m+$389k

Dec 2025 SEC Form N-PORT+$1.6m−$2.4m−$783k

Nov 2025 SEC Form N-PORT+$13.7m−$2.7m+$11.0m

Oct 2025 SEC Form N-PORT+$13.3m−$1.2m+$12.1m

Sep 2025 SEC Form N-PORT+$1.2m$0+$1.2m

Aug 2025 SEC Form N-PORT+$2.3m$0+$2.3m

Jul 2025 SEC Form N-PORT$0−$2.6m−$2.6m

Jun 2025 SEC Form N-PORT+$5.0m$0+$5.0m

May 2025 SEC Form N-PORT+$5.8m−$2.8m+$3.0m

Apr 2025 SEC Form N-PORT+$33.6m$0+$33.6m

Mar 2025 SEC Form N-PORT+$668k−$11.4m−$10.7m

Feb 2025 SEC Form N-PORT+$12.0m$0+$12.0m

Jan 2025 SEC Form N-PORT$0−$11.0m−$11.0m

Dec 2024 SEC Form N-PORT+$12.6m$0+$12.6m

Nov 2024 SEC Form N-PORT+$10.8m−$10.1m+$770k

Oct 2024 SEC Form N-PORT$0$0$0

Sep 2024 SEC Form N-PORT+$9.8m−$10.1m−$310k

Aug 2024 SEC Form N-PORT+$967k−$9.9m−$8.9m

Jul 2024 SEC Form N-PORT+$9.0m$0+$9.0m

Jun 2024 SEC Form N-PORT$0−$958k−$958k

May 2024 SEC Form N-PORT$0−$310k−$310k

Apr 2024 SEC Form N-PORT+$5.6m−$16.3m−$10.7m

Mar 2024 SEC Form N-PORT+$8.6m$0+$8.6m

Feb 2024 SEC Form N-PORT+$6.6m−$72.9m−$66.3m

Jan 2024 SEC Form N-PORT$0−$5.1m−$5.1m

Dec 2023 SEC Form N-PORT+$2.9m−$7.1m−$4.2m

Nov 2023 SEC Form N-PORT$0−$1.4m−$1.4m

Oct 2023 SEC Form N-PORT+$668k$0+$668k

Sep 2023 SEC Form N-PORT$0−$2.8m−$2.8m

Most recent first.

How this is computed

N-PORT months: money in is sales plus reinvestments; money out is redemptions.

N-PORT months are the filed sales plus reinvestments less redemptions. Later months add up the daily data; the Source column names any missing day.

Source: ETFIQ, from the fund’s SEC N-PORT filings. Data as of Aug 31, 2026. Updated when the fund files its next report.

OVLH key stats

52-week high, daily closes to Nov 4, 2026 (ETFIQ)$43.06 on Aug 13, 2026

52-week low, daily closes to Nov 4, 2026 (ETFIQ)$37.38 on Mar 30, 2026

Close on Nov 4, 2026, within that range (ETFIQ)$42.13, 84% of the way from the low to the high

Beta to its benchmark, 1 year (ETFIQ)0.70, against VOO

R-squared, the same days (ETFIQ)0.93

Beta and R-squared measured over251 daily total returns, Nov 5, 2025 to Nov 4, 2026

Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

OVLH return of capital and tax

Return of capital, latest notice (Overlay Shares estimate, Dec 29, 2023)38.0%

Return of capital, fiscal year to Aug 31, 2025 (annual report, filed Nov 4, 2025)0.0%

Options it writes (holdings as of Aug 31, 2026)Options on the Vanguard S&P 500 ETF index, which are Section 1256 contracts

Estimates are Overlay Shares’s Rule 19a-1 notices, made before the fund year closes. The fiscal year number is the annual report’s tax character. Not tax advice. What a 19a-1 estimate is · Income ETFs by return of capital

Trading

as of Nov 4, 2026

Trading · OVLHas of Nov 4, 2026

Not scored2 of 6 measured · Nov 4, 2026

0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant

Cost for your order · one way, half its 30-day median spread

How to tradeSpread not read.

Full trading page: components, premium history, dealers →

OVLH for holders outside the US

US tax withheld on dividends, no treaty30%

Treaty rates on dividends (IRS table, read Oct 30, 2026)65 countries, 10% to 30%

OVLH interest-related and short-term gain dividendsnot read by ETFIQ

US estate tax filing threshold, non-resident holders$60,000

Share classDistributing

Treaty rate on dividends by country

OVLH is a US fund. Stock of US corporations counts as US property for a non-resident's estate. Facts from the IRS, not tax advice. How withholding and treaties work

$0.12

$0.24

$0.11

$0.12

Distributions per share for OVLH 5 distributions for OVLH, $0.1098 to $0.2404 a share and $0.1186 in the middle, Dec 29, 2021 to Dec 23, 2025. $0.1186 the middle one Dec 29, 2021 Dec 23, 2025 $0.2404 a share at the highest

Dec 2021Annual, per shareDec 2025

5 distributions for OVLH, $0.1098 to $0.2404 a share and $0.1186 in the middle, Dec 29, 2021 to Dec 23, 2025.

Latest

$0.1186

Ex Dec 23, 2025 · paid about 2 days later

Annualized

0.3%

At its price on Nov 4, 2026

Trailing 12 months

0.3%

1 payment, ex Dec 23, 2025 to Dec 23, 2025: $0.1186

Return of capital

38.0%

Latest payout (Overlay Shares estimate)

Next, projected

OVLH pays annually. The last distribution was $0.1186 a share, which went ex on Dec 23, 2025, with payment about 2 days later.

Every income ETF going ex-dividend in the next 14 days →

Every distribution ETFIQ holds for OVLH (5, most recent first)

Dec 23, 2025$0.1186

Dec 24, 2024$0.1098

Dec 27, 2023$0.2404

Dec 28, 2022$0.1971

Dec 29, 2021$0.1186

Cash distributions per share for OVLH. Source: ETFIQ from Tiingo end-of-day distributions.

Source: ETFIQ, from Tiingo end-of-day distributions.

How much of what it paid out did its total return cover?

Total return as a share of the cash paid

−272.3% to 2,333.3% across 167

That is the share of the 167 income ETFs not writing on a single company sitting at or below OVLH.

One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. Where the fund sits in this set, not a rating. Do not average it with another category's score.

Total return as a share of the cash paid: 2,333.3% · 100th pct, −272.3% to 2,333.3% across 167.

Covered the mostOne bar per fund · OVLH in whiteCovered the least

All income ETFs ranked by this score →

Also against RDVI, BALI, OVL, DUBS, TCAL, XPAY, QYLG, SEPI, XSPI, JUDO, NLSI, KIQQ, TPAY, JEPQ, QQQI, QYLD, GPIQ, XYLD, KNG, FTHI, ISPY, OMAH, FTQI, SDVD, QDTE, FEPI, YYY, SIXH, ULTY, KHPI, PAPI, PBP, IQQQ, IVVW, XDTE, TSPY, YMAG, TDAQ, DJIA, YLDE, QQQY, EGGY, JOYT, ROCY, ROCQ, XQQI, CAIQ, SCEP, DOGG, MAGY, XYLG, WDTE, XRMI, QLDY, XIJN, KYLD, OEI, SPIN, ACKY, SDTY, OARK, QDTY, XISE, CVRD, BIGY, APRJ, XIMR, APRH, XIDE, DRKY, QUSA, SCLZ, JULH, SPUT, OCTH, YQQQ, OCTJ, QRMI, JANJ, JULJ, LJAN, JANH, LOCT, LAPR, FDND, LJUL, RNTY, DYLG, FGSI, VAIE, ACSP, GRNI, QVOL, BALQ, YSPC, ACQQ, HEMI, SIOO, XSHP, PCOV, DDDD, XVSP, TPRY, ODTE, CDPI, QQDH, RECI, TMGN, VOOY.

About OVLH

Strategyput-selling overlay, hedged

BenchmarkVanguard S&P 500 ETF (VOO)

How the benchmark is set (ETFIQ)97.8% of its net assets is VOO, by its holdings of Aug 31, 2026.

Paysannual

Net assets (SEC filing, whole fund, as filed for Aug 31, 2026)$109mReport

Latest payout, annualized (ETFIQ)0.3%

Expense ratio (485BPOS XBRL, Dec 23, 2025)0.80%Report

Cash paid, last 12 months, over today’s price (ETFIQ)0.3%

First tradedJan 15, 2021

Return of capital, latest distribution (Overlay Shares 19a-1 estimate)38.0%

Paysannually

Typical gap between ex-dates364 days

Typical wait from ex-date to payment2 days

Last paid, per share$0.1186 ex Dec 23, 2025

Cash paid in the 12 months to Nov 4, 2026, 1 distribution, ex Dec 23, 2025 to Dec 23, 2025$0.1186

How we measure

Every number is an ETFIQ calculation from exchange prices and cash distributions (Tiingo end-of-day), total return with distributions reinvested. Return of capital is the issuer’s estimate. Method

IQ Investment Committee on OVLH

12 seats on OVLH, as of Nov 4, 2026: 1 Supports, 6 Challenges, 4 Not enough data, 1 Does not apply.

In the tradition ofJohn BogleBogle-style Low CostChallenges

In the tradition ofBenjamin GrahamGraham-style Margin of SafetyDoes not apply

In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityNot enough data

In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data

In the tradition ofJohn TempletonTempleton-style Global ContrarianNot enough data

In the tradition ofRay DalioDalio-style All-WeatherChallenges

In the tradition ofHoward MarksMarks-style Cycles & RiskChallenges

In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityChallenges

In the tradition ofDavid SwensenSwensen-style DiversificationChallenges

In the tradition ofCathie WoodWood-style Disruptive InnovationNot enough data

In the tradition ofJesse LivermoreLivermore-style Trend FollowingSupports

Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatChallenges

Put OVLH to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about OVLH

How much has OVLH paid over the last year?: Over the year to Nov 4, 2026, OVLH paid 0.3% of its starting price in cash distributions, while the price rose 6.7%.
Is OVLH ahead of VOO?: Over the year to Nov 4, 2026, with every distribution reinvested, OVLH returned +7.0% against +14.8% for Vanguard S&P 500 ETF (VOO), so a holder was behind it by 7.8 points.
How often does OVLH pay, and how much?: OVLH pays annually. The latest distribution annualizes to 0.3% at its price on Nov 4, 2026, which is not a promise; the next one can differ.
Is the OVLH distribution return of capital?: Overlay Shares estimates 38% of the distribution paid Dec 29, 2023 was return of capital. That is a tax characterization from the fund's own 19a-1 notice, not a measure of erosion.
When does OVLH next pay a distribution?: OVLH pays annually. The last distribution went ex on Dec 23, 2025 at $0.1186 a share.
What does OVLH cost?: The prospectus expense ratio is 0.80% a year.
How much of OVLH’s distribution is return of capital?: Overlay Shares’s Rule 19a-1 notice estimates 38.0% of the distribution paid Dec 29, 2023 was return of capital. The annual report for the fiscal year to Aug 31, 2025 puts it at 0.0% of distributions. Estimates come before the fund year closes and often change.

Sources and dates

Prices, OVLH and VOOTiingo end-of-day · Nov 4, 2026

Fee, 0.80%Prospectus filing with the expense ratio (SEC) ↗

Net assets, $109mSEC filing, whole fund · Aug 31, 2026

Return of capitalOverlay Shares 19a-1 distribution notice ↗

DistributionsTiingo end-of-day · 5 payments

All fund filingsFund filings on SEC EDGAR ↗

IssuerOverlay Shares website ↗

Overlay Shares 19a-1 distribution notice ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →

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ETFIQ, OVLH, income ETFs, data as of Nov 4, 2026. https://etfiq.com/funds/ovlh

The payout bar for OVLH, redrawn every trading night.

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

Total return

Price change plus every distribution reinvested on the day it went ex-dividend. This is what you actually ended up with, and the only fair basis for comparing with an index.

Cash paid

Distributions over the window as a share of what the fund cost at the start. A measure of cash delivered, not of return: a fund can pay a great deal and still lose money.

Ahead or behind

Total return minus benchmark total return, in percentage points. A fund can pay 12% a year and still be behind by 10 points if its price fell while the index rose.

Return of capital

The issuer’s own estimate, in a Rule 19a-1 notice, of how much of a distribution was your own money returned. An estimate and a tax characterization, not a measure of erosion.

Covered call

The fund owns the stocks and sells call options on them, collecting premium and giving up gains above the strike. Synthetic covered call funds hold options instead of the stocks. 0DTE funds sell options that expire the same day.

Autocallable

A fund that pays a coupon and can be called away early, on dates set when it launched. If it is called, you get your money back with the coupon and the run ends. If it is not, it runs on to the next date.

Barrier

The level the underlying has to stay above for you to be repaid in full. A barrier is not a buffer. A buffer takes the first slice of a fall for you; a barrier takes none of it once it breaks, so below it you take the whole fall rather than only the part past it.

Full definitions: income ETFs vocabulary page. →

Overlay Shares ETFs: Every Fund and Its Fee→Every income ETF measured against VOO→Income ETFs by return of capital, fiscal year→

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OVLH: OVLH over 1 year: paid 0.3%, price +6.7%, total +7.0%, VOO +14.8%, −7.8 pts. Data to Nov 4, 2026.

<figure style="margin:0;max-width:640px">
<iframe src="https://etfiq.com/embed/income/ovlh/" title="OVLH: OVLH over 1 year: paid 0.3%, price +6.7%, total +7.0%, VOO +14.8%, −7.8 pts. Data to Nov 4, 2026." width="640" height="370" loading="lazy" style="border:0;max-width:100%;width:100%"></iframe>
<figcaption style="font:13px/1.5 sans-serif">OVLH: 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: <a href="https://etfiq.com/funds/ovlh">ETFIQ</a></figcaption>
</figure>

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