{
 "ticker": "OVM",
 "name": "Overlay Shares Municipal Bond ETF",
 "issuer": "Overlay Shares",
 "desk": "income",
 "url": "https://etfiq.com/funds/ovm",
 "html": "https://etfiq.com/funds/ovm",
 "markdown": "https://etfiq.com/funds/ovm.md",
 "as_of": "2026-09-18",
 "verdict": "Over the year to Sep 18, 2026, OVM paid 6.2% in cash and finished 2.9 points ahead of MUB.",
 "key_facts": [
  {
   "key": "cash_paid_1_year_on_its_starting_price",
   "label": "Cash paid, 1 year, on its starting price",
   "value": "6.2%",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "OVM, cash paid, 1 year, on its starting price: 6.2%, as of Sep 18, 2026."
  },
  {
   "key": "total_return_1_year",
   "label": "Total return, 1 year",
   "value": "+2.6%",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "OVM, total return, 1 year: +2.6%, as of Sep 18, 2026."
  },
  {
   "key": "against_mub",
   "label": "Against MUB",
   "value": "+2.9 pts",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "OVM, against MUB: +2.9 pts, as of Sep 18, 2026."
  },
  {
   "key": "latest_payout_annualized",
   "label": "Latest payout, annualized",
   "value": "5.3%",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "OVM, latest payout, annualized: 5.3%, as of Sep 18, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$38m",
   "source": "SEC filing, whole fund, as filed for May 31, 2026",
   "as_of": "2026-09-18",
   "sentence": "OVM, net assets: $38m (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": "OVM, 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": "US municipal bonds (MUB), used as the proxy (proxy)",
   "source": null
  },
  {
   "key": "pays",
   "label": "Pays",
   "value": "monthly",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$38m",
   "source": "SEC filing, whole fund, as filed for May 31, 2026"
  },
  {
   "key": "latest_payout_annualized",
   "label": "Latest payout, annualized",
   "value": "5.3%",
   "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": "6.4%",
   "source": "ETFIQ"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Oct 1, 2019",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Cash paid": "1.3%",
   "Price": "\u22124.4%",
   "Total return": "\u22123.2%",
   "MUB": "\u22123.4%",
   "Ahead or behind": "+0.2 pts"
  },
  {
   "window": "6 months",
   "Cash paid": "2.6%",
   "Price": "\u22122.9%",
   "Total return": "\u22120.3%",
   "MUB": "\u22121.3%",
   "Ahead or behind": "+1.0 pts"
  },
  {
   "window": "1 year",
   "Cash paid": "6.2%",
   "Price": "\u22123.6%",
   "Total return": "+2.6%",
   "MUB": "\u22120.3%",
   "Ahead or behind": "+2.9 pts"
  },
  {
   "window": "3 years",
   "Cash paid": "16.2%",
   "Price": "\u22123.4%",
   "Total return": "+13.6%",
   "MUB": "+7.9%",
   "Ahead or behind": "+5.7 pts"
  },
  {
   "window": "Since launch",
   "Cash paid": "30.5%",
   "Price": "\u221216.7%",
   "Total return": "+16.0%",
   "MUB": "+7.7%",
   "Ahead or behind": "+8.3 pts"
  }
 ],
 "questions": [
  {
   "q": "How much has OVM paid over the last year?",
   "a": "Over the year to Sep 18, 2026, OVM paid 6.2% of its starting price in cash distributions, while the price fell 3.6%."
  },
  {
   "q": "Is OVM ahead of MUB?",
   "a": "Over the year to Sep 18, 2026, with every distribution reinvested, OVM returned +2.6% against \u22120.3% for US municipal bonds (MUB), used as the proxy, so a holder was ahead of it by 2.9 points."
  },
  {
   "q": "How often does OVM pay, and how much?",
   "a": "OVM pays monthly. The latest distribution annualizes to 5.3% 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)."
}