OVLH ETF — Overlay Shares Hedged Large Cap Equity ETF

Overlay Shares Hedged Large Cap Equity ETF (OVLH)

OVLH is an ETF. its distribution rate is 0.28%, its trailing-12-month yield is 0.28%, its expense ratio is 0.80%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 73.7% over the past 5.7 years, 45.2 points behind SPY at 118.9%.

At the current 0.28% distribution rate, a $10,000 investment would generate approximately $28 per year if the next payment matches the last regular one.

Overlay Shares Hedged Large Cap Equity ETF is an actively managed fund that provides exposure to U.S. large-cap equities while employing an options overlay strategy—combining put spreads and longer-dated out-of-the-money put options—designed to limit downside risk while maintaining upside participation. The fund carries a modest distribution rate and an expense ratio of 0.80%, with annual distributions. It appeals to equity investors seeking large-cap exposure with downside protection rather than those prioritizing current income.

OVLH performance versus SPY

Price and return data through 2026-09-18.

Total return is 73.7% over the past 5.7 years, 45.2 points behind SPY at 118.9%. Over the past year its total return — price change plus distributions reinvested — is 9.1%. Its deepest 1-year drawdown was 6.4%.

OVLH key facts

Distribution Safety Score™

50 · Unproven

Issuer

Overlay Shares

Asset type

ETF

Asset class

Equity

Inception date

01/14/2021

Expense ratio

0.80%

Distribution rate

0.28%

Distribution frequency

Annual

Trailing yield

0.28%

Last close

$42.10 (as of 2026-09-18)

NAV

$41.72

Premium / discount

0.91% premium

AUM

$108,099,955

Average volume

3400.0

Last dividend

$0.119

Last ex-dividend date

12/23/2025 (as of 2025-12-23)

Last payment date

12/24/2025 (as of 2025-12-24)

Beta

0.74

P/E ratio

24.4844

How Dividend Vision calculates yield and returns

Distribution rate (0.28%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (0.28%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Overlay Shares or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

OVLH risks and drawbacks

OVLH's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are annual, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 6.4%.

Who may consider OVLH — and who may not

It is a weaker fit for investors who need monthly cash flow (OVLH pays annual); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Compare OVLH

OVLH vs similar funds:

• OVLH vs OVL

Frequently asked questions

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