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OVLH ETF — Overlay Shares Hedged Large Cap Equity ETF
Overlay Shares Hedged Large Cap Equity ETF (OVLH)
Updated November 6, 2026.
Verdict as of November 6, 2026 close
OVLH's distribution is rated unproven by the Dividend Vision Distribution Safety Score™ (50/100, medium confidence). It pays annual and its distribution rate is 0.29%. The latest total cash payment per current share, $0.119 with an ex-date of December 23, 2025, was 8.2% higher than the previous $0.11. It is not yet confirmed whether this is an increase in the regular payout or a one-off difference.
Sources: Overlay Shares page for OVLH, Section 19a-1 notices, scoring methodology.
OVLH is an ETF. Its distribution rate is 0.29%, its trailing-12-month yield is 0.29%, its expense ratio is 0.80%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 69.3% over the past 5.8 years, 41.3 points behind SPY at 110.6%.
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 dividend yield and income
Price as of 2026-11-06.
The distribution rate (0.29%) has no calculation basis on file. Trailing-12-month yield (0.29%) is the last year of cash distributions by ex-date divided by the current price. The dividend amount is $0.119. The ex-dividend date is 12/23/2025. The payment date is 12/24/2025.
| Ex-date | Amount | Change from previous payment |
|---|---|---|
| 2025-12-23 | $0.119 | 8.2% Total cash (unclassified) |
| 2024-12-24 | $0.11 | -54.2% Total cash (unclassified) |
| 2023-12-27 | $0.24 | 21.8% Total cash (unclassified) |
| 2022-12-28 | $0.197 | 65.5% Total cash (unclassified) |
| 2021-12-29 | $0.119 | — |
| 2021 total | $0.119 | — |
| 2022 total | $0.197 | 65.5% |
| 2023 total | $0.24 | 21.8% |
| 2024 total | $0.11 | -54.2% |
| 2025 total | $0.119 | 8.2% |
OVLH dividend growth
Trailing-12-month distributions versus the preceding 12 months changed +8.2%. The 1Y row below uses this same adjacent TTM cash-window comparison.
| Window | Change |
|---|---|
| 1Y | +8.2% |
| 3Y | -39.6% |
OVLH holdings and sector exposure
The top 2 holdings are 93.6% of the fund.
| Ticker | Name | Weight |
|---|---|---|
| VOO | Vanguard S&P 500 ETF | 93.54% |
| FGXXX | First American Funds Inc. - Government Obligations Fund | 0.03% |
To see how this fund's sectors add up across your own holdings, use True Exposure.
OVLH performance versus SPY
Total return is 69.3% over the past 5.8 years, 41.3 points behind SPY at 110.6%. Over the past year its total return — price change plus distributions reinvested — is 4.0%. Its deepest 1-year drawdown was 6.4%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | -3.8% | — |
| 3M | -4.0% | — |
| 6M | 0.1% | — |
| YTD | 4.2% | — |
| 1Y | 4.0% | — |
| 2Y CAGR | — | 10.40% |
| 3Y CAGR | — | 15.60% |
| 5Y CAGR | — | 7.20% |
| Since 2021-01-15 (first price on file) · 5.8 years | 69.3% | 9.50% |
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
- 0.29%
- Distribution frequency
- Annual
- Trailing yield
- 0.29%
- Last close
- $41.08 (as of 2026-11-06)
- AUM
- $105,913,635
- Average volume
- 2,089
- Dividend
- $0.119
- Ex-dividend date
- 12/23/2025
- Payment date
- 12/24/2025
- Beta
- 0.73
How Dividend Vision calculates yield and returns
Distribution rate (0.29%) has no calculation basis on file. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (0.29%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. 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.
Yield and safety methodology · 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.
More on OVLH
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OVLH vs similar funds:
Frequently asked questions
Does OVLH pay monthly?
No. OVLH currently pays annual, not monthly.
What is OVLH's expense ratio?
OVLH's expense ratio is 0.80%.
What is OVLH's dividend yield?
OVLH's distribution rate is 0.29%, paid annual, with a 0.80% expense ratio — no calculation basis on file.
How has OVLH's dividend grown?
Trailing-12-month distributions versus the preceding 12 months changed +8.2%. That is the same adjacent TTM cash-window comparison used in the dividend-history table.
When does OVLH pay a dividend?
OVLH pays annual. The dividend amount is $0.119. The ex-dividend date is 12/23/2025. The payment date is 12/24/2025.
How has OVLH performed?
Total return is 69.3% over the past 5.8 years, 41.3 points behind SPY at 110.6%. Over the past year its total return — price change plus distributions reinvested — is 4.0%. Its deepest 1-year drawdown was 6.4%.
Is OVLH a good investment?
OVLH's Dividend Vision Distribution Safety Score is 50 (Unproven). That is a risk signal, not investment advice. Its distribution rate is 0.29% (no calculation basis on file). Compare peers below rather than treating any single figure as a buy or sell.
More securities from Overlay Shares.
Tickers
OVLH's distribution is rated unproven by the Dividend Vision Distribution Safety Score™ (50/100, medium confidence). It pays annual and its distribution rate is 0.29%. The latest total cash payment per current share, $0.119 with an ex-date of December 23, 2025, was 8.2% higher than the previous $0.11. It is not yet confirmed whether this is an increase in the regular payout or a one-off difference.
Sources: Overlay Shares page for OVLH, Section 19a-1 notices, scoring methodology.
Holdings as-of date unavailable.
| Ticker | Name | Weight |
|---|
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