KSPYvsOVLETF Comparison
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KraneShares Hedgeye Hedged Equity Index ETF (KSPY) and Overlay Shares Large Cap Equity ETF (OVL) belong to the same industry segment: Options Strategies. Both ETFs have the same top 3 sector exposures: Technology, Finance and Consumer Non-Cyclicals. KSPY is more expensive with a Total Expense Ratio (TER) of 0.88%, versus 0.79% for OVL. KSPY is up 7.21% year-to-date (YTD) with +$60M in YTD flows. OVL performs better with 8.53% YTD performance, and +$157M in YTD flows. Run a side-by-side ETF comparison of KSPY and OVL below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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KSPY vs OVL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | KSPY OVL | +1.27%-2.24% | +4.32%+1.99% | +7.21%+8.53% | +15.77%+18.14% | n/a+70.57% | n/a+74.52% |
| Flows | KSPY OVL | +$16M+$47M | +$23M+$128M | +$60M+$157M | +$96M+$155M | -+$124M | -+$112M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | KSPY OVL | +7.35%+14.88% | +7.64%+14.76% | n/a+17.22% | n/a+19.01% |
| Max drawdown | KSPY OVL | -2.25%-5.22% | -4.44%-8.71% | n/a-21.55% | n/a-28.68% |
| Max drawdown duration | KSPY OVL | 18d57d | 48d47d | n/a133d | n/a745d |
Trading data
KSPY | OVL | |
Last sale 7/30/2026 at 1:30 PM | $29.52 | $55.46 |
| Previous close 07/29/2026 | $29.24 | $54.34 |
| Consolidated volume 07/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of June 30, 2026
1-year trailing difference
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OVL
is actively managed and doesn’t replicate an indexKSPY | OVL | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 7/30/2026 at 1:30 PM
Live
Closed
KSPY | OVL | |
|---|---|---|
| Last price | $29.52 | $55.46 |
| 1D performance | +0.97% | +2.06% |
| AuM | $120.76 M | $337.26 M |
| E/R | 0.88% | 0.79% |
Characteristics
KSPY | OVL | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | KraneShares | Overlay Shares |
| Benchmark | Hedgeye Hedged Equity Index | - |
| N° of holdings | 496 | 496 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 16, 2024 | September 25, 2019 |
| ESG | No | No |
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Exposure
Countries
KSPY
USA
97.34%
Other
2.66%
OVL
USA
96.33%
Other
3.67%
Sectors
KSPY
Technology
45.73%
Finance
13.14%
Consumer Non-Cycl.
8.76%
Healthcare
8.66%
Industrials
7.94%
Other
15.77%
OVL
Technology
45.33%
Finance
12.86%
Consumer Non-Cycl.
8.68%
Healthcare
8.58%
Industrials
7.87%
Other
16.68%
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Diversification
KSPY
Total weight of top 15 holdings out of 15
43.07%
OVL
Total weight of top 15 holdings out of 15
42.59%
Top 15 holdings
Data as of June 30, 2026
KSPY
NVIDIA Corp.
7.50%
Apple, Inc.
6.58%
Microsoft Corp.
4.29%
Amazon.com, Inc.
3.61%
Alphabet, Inc.
3.24%
Broadcom Inc.
2.77%
Alphabet, Inc.
2.58%
Micron Technology, Inc.
2.01%
Meta Platforms, Inc.
1.91%
Tesla, Inc.
1.83%
Eli Lilly & Co.
1.47%
Advanced Micro Devices, Inc.
1.47%
Berkshire Hathaway, Inc.
1.42%
JPMorgan Chase & Co.
1.36%
Intel Corp.
1.02%
OVL
NVIDIA Corp.
7.43%
Apple, Inc.
6.52%
Microsoft Corp.
4.25%
Amazon.com, Inc.
3.58%
Alphabet, Inc.
3.21%
Broadcom Inc.
2.74%
Alphabet, Inc.
2.56%
Micron Technology, Inc.
2.00%
Meta Platforms, Inc.
1.90%
Tesla, Inc.
1.82%
Eli Lilly & Co.
1.46%
Advanced Micro Devices, Inc.
1.45%
Berkshire Hathaway, Inc.
1.41%
JPMorgan Chase & Co.
1.24%
Intel Corp.
1.01%
Frequently asked questions about KSPY and OVL
How have the KSPY and OVL ETFs performed in 2026?
As of July 28, 2026, KSPY is up 7.21% year-to-date (YTD), while OVL has returned 8.53%. That puts OVL better performer ahead so far this year.
Which ETF is attracting more investor money: KSPY or OVL?
Year-to-date, the KSPY ETF saw +$60M in flows, compared to +$157M for OVL.
Which ETF is more volatile: KSPY or OVL?
Over the past year, KSPY had a volatility of 7.64%, while OVL experienced 14.76%.
Which ETF is bigger: KSPY or OVL?
As of July 28, 2026, KSPY holds $120.76 M in assets under management (AUM), while OVL manages $337.26 M.
What sectors do the KSPY and OVL ETFs invest in?
KSPY leans toward sectors like Technology, Finance and Consumer Non-Cyclicals. Meanwhile, OVL focuses on Technology, Finance and Consumer Non-Cyclicals.
What are the top holdings of the KSPY ETF and OVL ETF?
KSPY top holdings include NVIDIA Corp., Apple, Inc. and Microsoft Corp.. OVL holds in its top three: NVIDIA Corp., Apple, Inc. and Microsoft Corp..
Which ETF is more diversified: KSPY or OVL?
KSPY holds 501 securities with 43.07% of its assets in the top 15. OVL has 503 securities and a top 15 weight of 42.59%.
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