OVLHvsTSPYETF Comparison
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Overlay Shares Hedged Large Cap Equity ETF (OVLH) and TappAlpha SPY Growth & Daily Income ETF (TSPY) belong to the same industry segment: Options Strategies. Both ETFs have the same top 3 sector exposures: Information Technology, Financials and Communication Services. OVLH is more expensive with a Total Expense Ratio (TER) of 0.85%, versus 0.77% for TSPY. OVLH is up 3.08% year-to-date (YTD) with -$4M in YTD flows. TSPY performs better with 3.39% YTD performance, and +$90M in YTD flows. Run a side-by-side ETF comparison of OVLH and TSPY 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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OVLH vs TSPY performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | OVLH TSPY | +6.52%+8.10% | +1.96%+1.61% | +3.08%+3.39% | +20.18%+31.91% | +57.30%n/a | +53.03%n/a |
| Flows | OVLH TSPY | -$2M-$3M | -$4M+$49M | -$4M+$90M | +$34M+$231M | -$19M- | +$66M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | OVLH TSPY | +9.49%+15.00% | +8.19%+12.39% | +9.67%n/a | +11.30%n/a |
| Max drawdown | OVLH TSPY | -6.25%-9.44% | -6.25%-9.44% | -9.59%n/a | -20.03%n/a |
| Max drawdown duration | OVLH TSPY | 78d73d | 78d73d | 134dn/a | 771dn/a |
Trading data
OVLH | TSPY | |
Last sale 4/27/2026 at 1:30 PM | $40.59 | $25.13 |
| Previous close 04/24/2026 | $40.53 | $25.16 |
| Consolidated volume 04/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 4/27/2026 at 1:30 PM
Live
Closed
OVLH | TSPY | |
|---|---|---|
| Last price | $40.59 | $25.13 |
| 1D performance | +0.15% | -0.12% |
| AuM | $102.54 M | $257.24 M |
| E/R | 0.85% | 0.77% |
Characteristics
OVLH | TSPY | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Overlay Shares | TappAlpha |
| Benchmark | - | - |
| N° of holdings | 478 | 478 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 15, 2021 | August 14, 2024 |
| ESG | No | No |
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Exposure
Countries
OVLH
USA
91.66%
Other
8.34%
TSPY
USA
97.6%
Other
2.4%
Sectors
OVLH
Information Techn.
32.12%
Financials
9.71%
Communication Ser.
9.69%
Consumer Discreti.
9.49%
Health Care
8.83%
Industrials
7.88%
Other
22.28%
TSPY
Information Techn.
34.16%
Financials
10.46%
Communication Ser.
10.3%
Consumer Discreti.
10.08%
Health Care
9.39%
Industrials
8.38%
Other
17.23%
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Diversification
OVLH
Total weight of top 15 holdings out of 15
40.18%
TSPY
Total weight of top 15 holdings out of 15
42.79%
Top 15 holdings
Data as of March 31, 2026
OVLH
NVIDIA
7.18%
APPLE
6.31%
MICROSOFT-T
4.65%
AMAZON.COM INC
3.45%
ALPHABET INC-CL
2.84%
BROADCOM LIMITED
2.49%
ALPHABET INC-CL
2.27%
META PLATFORMS
2.12%
TESLA
1.77%
BERKSHIRE HATHWAY
1.49%
JPMORGAN CHASE
1.27%
LILLY
1.23%
EXXON
1.20%
JOHNSON&JOHNSON
1.00%
WALMART INC
0.92%
TSPY
NVIDIA
7.63%
APPLE
6.71%
MICROSOFT-T
4.95%
AMAZON.COM INC
3.66%
ALPHABET INC-CL
3.01%
BROADCOM LIMITED
2.64%
ALPHABET INC-CL
2.41%
META PLATFORMS
2.25%
TESLA
1.88%
BERKSHIRE HATHWAY
1.58%
JPMORGAN CHASE
1.43%
LILLY
1.31%
EXXON
1.28%
JOHNSON&JOHNSON
1.06%
WALMART INC
0.98%
Frequently asked questions about OVLH and TSPY
How have the OVLH and TSPY ETFs performed in 2026?
As of April 24, 2026, OVLH is up 3.08% year-to-date (YTD), while TSPY has returned 3.39%. That puts TSPY better performer ahead so far this year.
Which ETF is attracting more investor money: OVLH or TSPY?
Year-to-date, the OVLH ETF saw -$4M in flows, compared to +$90M for TSPY.
Which ETF is more volatile: OVLH or TSPY?
Over the past year, OVLH had a volatility of 8.19%, while TSPY experienced 12.39%.
Which ETF is bigger: OVLH or TSPY?
As of April 24, 2026, OVLH holds $102.54 M in assets under management (AUM), while TSPY manages $257.24 M.
What sectors do the OVLH and TSPY ETFs invest in?
OVLH leans toward sectors like Information Technology, Financials and Communication Services. Meanwhile, TSPY focuses on Information Technology, Financials and Communication Services.
What are the top holdings of the OVLH ETF and TSPY ETF?
OVLH top holdings include NVIDIA, APPLE and MICROSOFT-T. TSPY holds in its top three: NVIDIA, APPLE and MICROSOFT-T.
Which ETF is more diversified: OVLH or TSPY?
OVLH holds 503 securities with 40.18% of its assets in the top 15. TSPY has 502 securities and a top 15 weight of 42.79%.
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